DriveCam funding for strategic acquisition

To continue funding rapid growth and market expansion, DriveCam has entered into a definitive agreement to raise US$85 million in investment capital from Welsh, Carson, Anderson & Stowe XI, (WCAS), a New York-based private equity firm.
March 23, 2012 Read time: 1 min
To continue funding rapid growth and market expansion, 4232 DriveCam has entered into a definitive agreement to raise US$85 million in investment capital from Welsh, Carson, Anderson & Stowe XI, (WCAS), a New York-based private equity firm. The investment is being made, in part, to fund the acquisition of Rair Technologies, a provider of regulatory compliance solutions for DOT-regulated fleets. Rair allows fleet operators to efficiently manage hours-of-service logs, CSA safety scores, driver qualification and vehicle inspection requirements. The company provides web-based safety and compliance services to many top fleets in trucking, distribution and transit, including 50 per cent of the ‘Top 100’ carriers in the US and Canada.

“With this investment, DriveCam will continue to accelerate its growth by expanding into new market segments and broadening its value proposition through strategic partnerships and targeted acquisitions, the first of which is Rair,” said DriveCam CEO Brandon Nixon.
Location Based Systems

For more information on companies in this article

Related Content

  • EVs & smart cities: Tritium keeps things moving
    December 3, 2018
    Electric vehicles are widely expected to play a major role in the smarter, cleaner cities of the future. Paul Sernia explains why – and looks at the place of ultra-rapid chargers as part of a versatile public infrastructure Electric vehicles (EVs) are widely expected to play a major role in the smarter, cleaner cities of the future. With no dirty tailpipe, EVs can help improve the polluted air of inner cities. And when deployed as widely shared assets – through car clubs, ride-sharing services and taxi
    Read More
  • L-Charge EV charger receives $1.5m boost
    September 21, 2021
    L-Charge plans to develop a network in Paris, Berlin, New York, Amsterdam and London
    Read More
  • DSRC holds the key to tomorrow's transportation
    June 15, 2016
    Dedicated Short-Range Communication (DSRC) technologies are poised to revolutionise transportation system planning, management and operations. But will widespread US adoption take five years, or twenty? As Ben Pierce of Battelle explains, the answer depends largely on which roadmap the ITS community chooses to follow for deployment.
    Read More
  • Panasonic in Colorado: Rocky mountain way
    December 3, 2018
    Panasonic is at the heart of a C-V2X project which began last year in Colorado. The company’s smart mobility boss Chris Armstrong tells Adam Hill how it is working out Colorado needs traffic and transport solutions – and fast. The US state’s population has grown 50% in the last 20 years and another 50% hike is predicted in the next 20. It also spends more than $13 billion in roadway crash costs each year. In 2015, 546 people died in traffic-related crashes, and more than 3,000 were seriously injured.
    Read More

Highlighted Content