Wednesday, December 16, 2009

SmartDrive Systems Gets $25M

San Diego-based SmartDrive Systems, a developer of video-based, fleet safety management systems, announced today that it has raised $25M in an additional venture funding round. The round came from existing investors Oak Investment Partners and New Enterprise Associates. As part of the funding, the firm said it has named Dave Vucina, former CEO of Wayport, as Chairman of the board. SmartDrive said the new funding will provide it with working capital.

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