SmartDrive finalist for technology venture award

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SmartDrive Systems, a provider of driving performance systems that reduce collisions and improve fuel efficiency, announced it had been selected as a finalist for Red Herring’s Top 100 North America award, a prestigious list honoring the year’s most promising private technology ventures from the North American business region.

As the market demand for Big Data solutions for fleets grows, SmartDrive, with its database of over 61 million recorded and analyzed risky driving events, uses technology to mine vehicle performance information combined with proprietary sensor data and analytics to provide intelligence and insights for fleets.

SmartDrive has incorporated a driver-centric approach to give both fleets and their individual drivers tools to improve on unsafe and fuel inefficiency maneuvers, greatly lowering collisions, fuel waste as well as carbon emissions. Transportation organizations using SmartDrive include Salvation ArmyVeoliaLoomis, and the U.S. Marines.

Red Herring has been selecting the most exciting and promising start-ups and “scale ups” since 1995. Finalists are evaluated individually from a large pool of hundreds of candidates based across North America. Twenty major criteria underlie the scoring and process. They include, among others: the candidate company’s addressable market size, its IP and patents, its financing, the proof of concept, trailing revenues and management’s expertise.