AICC member GreenRoad Technologies Raises $15M from a new investor

Source: Globes Online 5/31/09
greenroad

GreenRoad Technologies Inc. has raised $15 million in a financing round led by DAG Ventures, a new investor.

GreenRoad CTO Ofer Raz and chief of safety Hod Fleishman founded the company, which is based in California, has sales offices in the US and UK, and an R&D center at Or Yehuda, in Israel. The company develops solutions for improving driver safe and fuel-efficient driving habits. The company’s system has sensors that analyze up to 120 separate driving events in real-time, and transmits the data to a red-yellow-green LED light display, which provides the driver with immediate feedback. The device also transmits the safety data via cellular modem to the GreenRoad servers to evaluate overall driving risk and skills.

Green Road technology improves driver safety, and significantly reduces crashes and fuel consumption by instantly identifying risky drivers and empowering them to change their behavior behind the wheel. GreenRoad’s flagship service offering is GreenRoad Safety Center. This service combines in-vehicle technology with integrated web applications that continuously rates driving skills and behavior, trains drivers in real time by providing feedback as they drive, and sustains behavior improvements through continuous reinforcement. By improving driver safety, GreenRoad Safety Center significantly reduces crashes and fuel consumption.

Bill Dale, GreenRoads’ Atlanta based sales manager for the Southeast presented earlier this year at AICC’s Software Committee meeting, and the company joined AICC shortly therafter. In addition to Dag Ventures, GreenRoad is funded by leading private equity investors including Benchmark Capital, Balderton Capital and Virgin Green Fund.

Full Globes Article

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