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

  • Artificial Intelligence applications for commercial vehicle operations
    December 28, 2021
    The combination of machine learning, deep neural networks and computer vision provides opportunities to address in new ways an increasing range of functions that are a part of commercial vehicle operations. Here, IRD’s Rish Malhotra details how.
    Read More
  • PrePass service expands to North Carolina
    June 4, 2015
    Help, the provider of the PrePass commercial vehicle bypass service, and International Road Dynamics (IRD), the administrator of North Carolina’s NCPass, have reached an agreement to provide PrePass users with the benefits of bypassing at weigh stations located at Hillsborough, North Carolina. More than a half million trucks from over 44,000 fleets are currently enrolled in PrePass, saving time, fuel and money. According to the companies, since 1997, PrePass has provided over 647 million actual truc
    Read More
  • World Congress rewards outstanding ITS
    September 9, 2014
    Tradition dictates that the ITS World Congress is the setting for a variety of award presentations, and 2014 is no exception. During the glittering 2014 ITS World Congress opening ceremony the first of a series of awards was presented with São Paulo’s Municipal Department of Transport receiving the MobiPrize Enterprising City/State Award.
    Read More
  • Missouri’s smart solution for rural road monitoring
    July 7, 2017
    David Crawford sees how Missouri is using commercially available information to rapidly improve monitoring and driver information on rural highways. Missouri is a predominantly rural state with the second largest number of farms in the country and agriculture the main occupation in 97 of its 114 counties. US statistics starkly reveal how road accidents in rural areas tend to be more serious than in urban regions and of the 32,000 US motorists killed each year, 54% die on roads in rural areas even though onl
    Read More

Highlighted Content