Tuesday, November 13, 2007

SmartDrive Systems Steers In Another $46M

San Diego-based SmartDrive Systems announced late Tuesday that it has raised $46M in a Series D round of funding. The firm, which develops systems targeted at fleet vehicles for monitoring driver safety, said the round was co-led by Oak Investment Partners and New Enterprise Associates. Prior investors Revolution Ventures, The Founders Fund, Edelson Technology Ventures, and Western Technology Partners also participated in the funding. The firm said it now has more than 300 employees. Richard Kramlich from NEA and Bendel Carano from Oak will be joining the firm's board as part of the funding. More information »