DriveCam is #30 "Top-Ranked Venture Backed Company" in Wall Street Journal's "The Next Big Thing"
DriveCam selected from 10,000 companies based upon track record of success and continued strong growth
SAN DIEGO – March 16, 2010 – DriveCam Inc., a global Driver Risk Management (DRM) company, announced today it has been listed as #30 in The Wall Street Journal’s latest listing of Top 50 Venture-Backed Companies, “The Next Big Thing.”
Starting from a list of over 10,000 companies, Wall Street Journal editors considered a variety of criteria, including DriveCam’s track record of success and continued strong growth – even in this economy -- to come up with the final rankings.
“We are very proud to be recognized, again, as the pioneer and leader in the emerging field of Driver Risk Management,” said Brandon Nixon, CEO of DriveCam. “Our # 30 ranking – out of the thousands of ventured-back companies in the USA – is a validation of the value we deliver to our clients and a testament to the strength of our employees, our management team and our investors.”
Commenting in the interactive company profile, featured in the article, Nixon stated, “We save lives, we improve fuel efficiencies and we prevent accidents. Savings in fuel and claims – the latter typically drops 50% to 70% – pay for the program in the first year.”
Nixon went on to say, “The company shifted focus to preventing collisions several years ago and attracted the interest of VCs, who have since invested $60 million. Last year, DriveCam turned profitable, but it could raise more capital to boost growth or fund acquisitions.
“The biggest challenge is really staying focused because the opportunity is so vast and the market is so big. Clients across a broad selection of transportation sectors - including transit, trucking, oil & gas, waste, public utilities, energy, services and cable/telecommunications - have proven that the ROI created from an investment in our services is compelling and continues to deliver year after year.
“Our ongoing mission is to continue to innovate – to provide the insights that empower our clients to manage their fleets to a level of efficiency not otherwise thought possible.”
About DriveCam Inc.
DriveCam is a global Driver Risk Management company that dramatically reduces fuel expenses and claims costs – while saving lives – by improving the way people drive. By combining sight and sound, expert analysis and driver coaching, DriveCam has reduced vehicle damages, workers' compensation and personal injury costs by more than 50 percent and fuel consumption by up to 6% in over 130,000 commercial and government vehicles. DriveCam has analyzed data from over 2 billion driving miles and holds the world's largest database of more than 16 million actual risky driving events, which the company uses to continually improve its proprietary analytics and scoring. DriveCam has been included on Inc. Magazine’s list of the 500 fastest-growing, privately held companies in the U.S. for three consecutive years. For more information, visit www.drivecam.com.
