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

  • City of Cambridge partners with Volpe on truck side guards
    May 28, 2015
    The City of Cambridge, Massachusetts is partnering with Volpe, the National Transportation Systems Center, to install truck side guards on city-owned trucks in order to enhance safety for pedestrians and bicyclists travelling in Cambridge. The city intends to install these side guards on heavy-duty vehicles in an effort to lead by example in Massachusetts and to encourage private entities to do the same.
    Read More
  • European EV charging infrastructure market set to boom
    May 16, 2012
    Electric vehicles (EVs) have gained significant attention over the last few years from various European governments as they look to promote the deployment of EV charging infrastructure. According to new analysis from Frost & Sullivan, contained in 'Strategic Analysis of the European EV Charging Station Infrastructure' there are strong indicators that the EV market will grow from less than 10,000 public charging points in 2010 to close to two million public charging points by 2017. Some three per cent of thi
    Read More
  • User-based insurance joins the battle for big data
    November 10, 2015
    User-based insurance is blazing a trail others would like to follow and is also discovering the challenges. The ITS sector needs to keep a very careful eye on the automotive industry: “There’s a war going on in the connected car space creating richer datasets than we ever imagined possible” says Paul Stacy, research and development director of Wunelli, part of the LexisNexis group. The car makers have gone way beyond infotainment, unlocking huge amounts of data in the process … facts and figures which the i
    Read More
  • Iteris to expand its iPerform data and analytics software solutions
    March 12, 2013
    Intelligent traffic management information solutions provider Iteris is expanding its iPerform traffic and weather-related data and analytics software offering. iPerform was established in 2011 and provides a new generation of intelligent traffic and weather-related information solutions. These solutions bring the power of big data to the prediction of traffic conditions and the delivery of actionable information to both the public and commercial marketplace. The segment’s initial product, IterisPeMS, is a
    Read More

Highlighted Content