Netadyne’s journey started in 2015 to build a fleet safety solution constructed with the most future forward, advanced technology to improve driver and fleet performance through rewarding positive driving behavior, and ultimately create safer roadways for all.
With that, we are excited to share that we have raised $150 million in series C funding, bringing our total capital raised to over $197 million. The investment was led by SoftBank Vision Fund, with participation from existing investors Point72 Ventures and M12.
This is a significant milestone for the company and follows a stage of hypergrowth, with our business growing annual recurring revenue by over 300% in 2019 and the same in 2020
The investment will help push Netradyne into overdrive, and fuel further innovation and growth. We are advancing industry-first product innovations that will not only enable our customers to solve today’s fleet safety challenges, but also gain deeper insights into the data for more informed decision making. At the same time, we will use the new funding to progress our core technology, expand into new geographies and accelerate hiring across R&D, marketing, and customer support. We have an exciting road map ahead and can’t wait to share more.
Today, data is the heart of every business. Netradyne customers are leveraging data to improve their fleet safety program every day, and new AI capabilities adoption is at the forefront of this transformation. This requires reimagining fleet safety.
We fundamentally believe that an advanced edge computing and computer vision approach is the only possible option for the future. It not only radically simplifies data into organized insights and reduces costs, but also fuels innovation by being able to learn from itself. Today, Netradyne helps achieve cost-savings thanks to less incidents and also plays a major role in reduced insurance claims.
And that’s not all. Earlier this week we unveiled a fresh new look for Netradyne. Over recent months, we worked with our customers to better align with the direction the business is headed. We’ve got a new logo, new brand colors, and a new website, all part of our commitment to improving positive reinforcement and fleet performance.
One of Netradyne’s core values and a centric part of our DNA is ‘to enhance safety’ – it drives us to push boundaries, reward safe driving behaviors and coach the risky ones. We believe safety does not stop when the driver gets home to their family. Our ability to analyze risk of every mile of a completed journey prioritizes safety, allowing fleets to learn more miles logged.
Netradyne customers, employees, and partners have played a central role in helping us reach this point and we are grateful for their continued commitment. Thank you to everyone who has been part of the journey so far and we look forward to continuing to bring innovation to life.
Questions? Schedule a call with us today to learn how to level up your fleet safety program.