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

  • Progress towards a pan-European cooperative infrastructure
    July 17, 2012
    Kallistratos Dionelis, General Secretary of ASECAP, makes the case for a lightly regulated, staged progression towards a pan-European cooperative infrastructure environment, the achievement of which should look to engender cooperation between the public and private sectors. Such an approach, he says, is the only real path to success.
    Read More
  • Ability to keep in touch on US buses woos travellers
    February 1, 2012
    David Crawford finds evidence of a new trend in American intercity travel: that better access to data sources on the move is tempting passengers away from air travel and onto surface modes. In the US the ease of use of Portable Electronic Devices (PEDs) is successfully wooing long-distance travellers away from airlines and onto surface public transport, according to just-published research. Using data from field observations of 7,028 passengers travelling by bus, air and train in 14 US states and the Distri
    Read More
  • Ability to keep in touch on US buses woos travellers
    February 1, 2012
    David Crawford finds evidence of a new trend in American intercity travel: that better access to data sources on the move is tempting passengers away from air travel and onto surface modes. In the US the ease of use of Portable Electronic Devices (PEDs) is successfully wooing long-distance travellers away from airlines and onto surface public transport, according to just-published research. Using data from field observations of 7,028 passengers travelling by bus, air and train in 14 US states and the Distri
    Read More
  • 50 years of Cubic Transportation Systems
    August 25, 2022
    If you detect an air of celebration on the Cubic stand, there’s a good reason for it. June 2022 marked 50 years of Cubic Transportation Systems. While Cubic Corporation started 70 years ago, the transportation business began in 1972 and has since been nurtured and developed into a successful $1 billion enterprise and an established leader in the transportation industry.
    Read More

Highlighted Content