The Ashes

Technology, Science and other news
August 14, 2009

DriveCam Raises $19 Million Series D

Posted by : admin
Filed under : General

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DriveCam is a company that improves risky drivers by setting up video event recorders on the windshield behind the rear-view mirror.  DriveCam reduces claims costs and improves the way people drive.

DriveCam offers driver coaching and expert analysis.  The company has announced that they have raised $19 million Series D.

The $19 million Series D round of investment was led by Triangle Peak Partners.  Other investors include Menlo Ventures, Insight Venture Partners, JMI Equity, and Integral Capital Partners.

DriveCam had year-over-year revenue growth and an 85% growth in their client base.  The company also had a positive cash flow for the first time in history.

[via NYT]

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