Lytx announced record growth in 2014 with 57,000 new subscriptions-in-service (SIS) to its video-based driver safety program called DriveCam. More than 200,000 vehicles worldwide are now subscribed to DriveCam.
In a press release, Lytx noted that the 57,000 new subscriptions it added in 2014 is more than the total number of subscriptions that its competitors have combined. Its new subscriptions came from adding 200 new clients in 2014 and from 450 of its 1,300 clients expanding their fleet deployment of the program.
“This year was another exceptional one for Lytx. We are grateful to our clients for continuing to choose us,” said Brandon Nixon, Lytx CEO. “The momentum toward video-based safety and compliance solutions is accelerating across most transportation segments as evidenced by our continued trend of doubling subscriptions every two years.”
Lytx says that its DriveCam program and RAIR Compliance Services enables fleets to reduce collision, fuel and maintenance costs and improve all seven BASICs of a fleet’s CSA score by effectively changing driving and compliance behavior. The combined program has an average six-month payback, it says.
“This past year is just the beginning of our journey. Transportation is evolving quickly with innovations that are making it safer than ever before to be on the road,” continued Nixon.
Lytx sells its programs to every significant commercial segment in transportation.
“We expect to continue on our growth trajectory in 2015, scaling up functions and adding system features to ensure we are constantly elevating the value we offer our clients and ultimately making our roads safer,” said Nixon.
Lytx says that it analyzes tens of billions of miles annually for its clients, and provides them with information to quickly pinpoint and correct driving behaviors that will most likely lead to collisions.
Other highlights of 2014 include the third consecutive year of orders exceeding $100 million annually and 40 percent revenue CAGR for the past 5 years.
