FleetMatics Seals $68M in Growth Equity
FleetMatics, which develops GPS tracking applications for commercial fleets, has raised $68 million in growth equity financing. Institutional Venture Partners contributed to the round, investing alongside the company’s majority owner Investcorp Technology Partners. New World Ventures also participated as a new investor. As a result of the financing, Institutional Venture Partners’ Sandy Miller joins the FleetMatics board. The new financing will help FleetMatics expand its technology and software-as-a-service products. FleetMatics has operations in the UK and Ireland, and U.S. offices in cities including Atlanta, Boston and Chicago.
6 December 2010•4 mins read
