SmartDrive Raises $10.1M

8/11/11Follow @bvbigelow

San Diego’s SmartDrive Systems has raised $10.1 million of a planned $11.5 million from investors, according to a recent regulatory filing. As we reported a couple of years ago, SmartDrive helps fleet operators mitigate their risk by using a SmartRecorder device mounted above the dashboard to record driving behavior and determine what happened in accidents. Jason Palmer, who joined the company in 2009 as chief product officer, is now CEO. No investors were identified in the filing, but past investors include Oak Investment Partners of Palo Alto, CA, and New Enterprise Associates of Menlo Park, CA.

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 @bvbigelow

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