GPS Vehicle Tracking Applications Maker FleetMatics Raises $68 Million

Monday, 06 December 2010 15:53

GPS Vehicle Tracking Applications Maker FleetMatics Raises $68 Million

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FleetMatics, a Boston-based provider of GPS tracking applications for commercial fleets, this morning announced that it has closed a massive $68 million growth equity financing round. Late-stage investor Institutional Venture Partners invested in conjunction with

Investcorp Technology Partners, FleetMatics’ majority owner. New World Ventures also participated as a new investor. FleetMatics provides GPS vehicle tracking applications around the world - the company says over 12,500 businesses currently use its on-demand vehicle management solutions.