SureCam, a provider of video telematics technology for small and midsized businesses, has closed a $11.5m funding round.
The round was led by Lewis & Clark Capital, SureCam’s majority shareholder, with participation from existing shareholders, and the addition of Virginia-based CCA Financial, one of America’s largest independent technology and equipment financing companies.
Since its inception in 2014, SureCam has provided video telematics solutions via connected dash cameras for busy fleets in organisations ranging from family-owned businesses up to some of the world’s most recognised fleets in field services, utilities, transportation, distribution, construction, taxi service, and home delivery.
SureCam said the funds from the round will go towards product development and expanding the company’s customer-base.
Arpan Majumder, SureCam’s chief financial officer and chief operating officer, said, “Managing a fleet of vehicles can be an enormous task and liability, especially for a company whose core competency is construction, landscaping, waste management or home repair services. SureCam is a tool for company owners and managers to sleep well at night, knowing they have visibility and control of their fleet.”
Staci Harvatin, senior director of global marketing at SureCam, added that the company has tapped into a segment of the market that has historically been overlooked by technology providers.
“Small and midsize businesses have found other video telematics solutions to be highly complex and expensive. At SureCam, we’re relentlessly focused on delivering the core video functionality and safety insights that drive the greatest return on investment. We are excited to leverage this funding round to continue reaching those fleets.”
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