GreenRoad raises $26M for growth

GreenRoad, a driver behavior and fleet performance service provider, has raised $26 million in growth capital led by Israel Growth Partners, whose general partner, Haim Shani, has joined the GreenRoad board of directors.

GreenRoad offers a platform that helps fleet operators improve driving safety, increase fuel economy, lower insurance premiums, and reduce accident-related costs.

“The Telematics space is changing rapidly, creating huge opportunities. Fleet executives realize that safer driving is a key to lowering operating costs, reducing environmental impact, and improving customer service provided by their mobile resources,” said Zeev Braude, CEO of GreenRoad. “Our product offering and technology are well positioned to meet market demand for solutions that address driver behavior together with traditional telematics and industry-specific requirements.”

GreenRoad will utilize the new capital injection to invest heavily in expanding its sales and marketing resources and activity in the US and EMEA. In addition, the company plans to enhance its driver behavior technology to capture opportunities arising from next generation mobility models, new ADAS and connected fleet technologies.