GreenRoad: The App That Uses Your Smartphone To Make Driving Safer

Last week, Israeli company GreenRoad announced the launch of a new smartphone app to measure drivers’ performance. This is a major shift for the veteran Israeli company, founded in 2003, which has spent its first decade developing a device which monitors driver behavior on the road. GreenRoad Technologies, which was founded by Hod Fleischman and Ofer Raz, who are no longer involved in managing the company, employs 70 workers, 40 of which are employed in the Israeli offices.

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The company has raised $60 million to date from a long line of funds, including Benchmark, Amadeus Capital Partners, Virgin Green Fund, Balderton Capital and DAG Ventures. In February 2010, Al Gore’s Generation Investment led a $10 million financing round. In May 2011, invested companies put in an additional $13 million and announced the appointment of Jim Heeger as CEO. In 2010, technology blog TechCrunch estimated the company’s annual revenue at $20 million.

Before this recent development, GreenRoad offered its clients an attachment that connected directly to the car’s system and reported to the driver if they were speeding and offered information on acceleration and braking. Among other things, the company’s devices, which also relayed information directly to car fleet operators, were designed to raise safety consciousness and to conserve gas. GreenRoad’s systems are used mainly by companies who manage large vehicle fleets, like British bus operator First Group, which have the systems installed on some 9,000 busses. According to the company’s case studies, the system can reduce gas consumption by up to 10 percent and reduce over 50 percent of traffic accidents involving vehicles that carry the system.
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To read this article in Hebrew, click here.
Via TheMarker
Photo by GreenRoad