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SmartDrive Gets $46M in Venture Funding

SmartDrive Systems Inc., the San Diego company that uses technology to monitor employee driving habits and to capture video of accidents, said Nov. 13 that it closed a $46 million Series D round of funding.

Two venture capital firms led the round. They were Oak Investment Partners, which has offices in Palo Alto, Minneapolis and Connecticut, and New Enterprise Associates, which has offices in Menlo Park and Maryland. Existing investors Revolution Ventures, the Founders Fund, Edelson Technology Ventures and Western Technology Partners also participated.

SmartDrive provides its customers with vehicle-mounted video cameras and software that record driving patterns and incidents. The company also offers a professional services component, and employs 300 people worldwide.

, Brad Graves

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