Netradyne has received a $150 million Series C funding investment made by SoftBank Vision Fund 2, with participation from existing investors Point72 Ventures and M12. With the funds raised, the company will use the new funding to advance its core technology, expand into new geographies and accelerate hiring across R&D, marketing, and customer support. This financing, along with earlier investments, brings Netradyne’s total capital raised to over $197 million.
Netradyne provides fleets of all sizes with an advanced video safety camera and fleet performance analytics tracking, as well as driver awareness tools to help reduce risky driving behavior and reward safe driving decision-making. Powered by AI and edge computing, Netradyne’s Driveri, an advanced vision-based driver recognition and fleet safety solution, is built to reward positive driving behavior, providing a powerful retention tool in an industry challenged by massive labor shortages.
Driveri's transformative capabilities set it well ahead of other products in the industry. It is the only fleet safety solution to capture the complete driving day with accurate object detection, event causality, and full visibility to what’s happening on the road, as opposed to only capturing video after an incident has occurred like legacy platforms.
“We believe Netradyne is an industry leader who is poised to profoundly impact the entire transportation ecosystem by creating safer roads,” Nagraj Kashyap, managing partner at SoftBank Investment Advisers, said. “Through its advanced vision-based technology, Netradyne is helping to improve the commercial driver experience and performance to help reduce transportation-related deaths and injuries on the roadways. We are pleased to partner with Avneesh and the Netradyne team as they harness the power of computer vision and edge computing to revolutionize modern-day transportation.”
Since its founding in 2015, Netradyne said it has grown to reach over 1,000 fleets, across multiple industries, and has grown annual recurring revenue by over 300% in 2019 and the same in 2020.
“This investment by SoftBank solidifies our global marketplace leadership position in fleet safety technology,” Avneesh Agrawal, CEO of Netradyne, said. “With this new infusion of capital, we will invest even more deeply into advanced AI technology and accelerate our international expansion, all in support of furthering our mission to create safer roadways for all.”
