SmartDrive Expands Venture Round

6/23/10

San Diego’s SmartDrive Systems, which uses video recording technology and web-based services to help reduce the operating costs of motor vehicle fleets, says in an amended regulatory filing that it has expanded its targeted funding to $28.5 million. The company, which has more than 350 worldwide employees, disclosed plans in December to raise as much as $25 million—after raising $12 million in October. In its latest filing, SmartDrive says it has raised $12 million so far.



Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @

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