GreenRoad, a California-based developer of driving behavior and safety management services, has named Jim Heeger as its chief executive, and added $13 million in equity financing. The money comes from existing investors, GreenRoad said Wednesday. The company last raised a $10 million round in February 2010 from Benchmark Capital, DAG Ventures, Virgin Green Fund, Amadeus Capital Partners and Balderton Capital.
GreenRoad, the leader in fleet driver performance and safety management, today announced that Jim Heeger, a Silicon Valley veteran with extensive growth-company leadership experience, has joined as president and CEO.
The company also announced that, in conjunction with Heeger’s appointment, existing investors have provided an additional $13 million in equity financing to fund the company’s rapid growth.
“GreenRoad is one of those rare opportunities; it’s an extremely well-positioned company offering a compelling solution to an existing and growing problem. In this case, our driver performance management solutions deliver real, measurable results including improved safety, reduction of crash-related costs and savings in fuel consumption and emissions,” commented Heeger. “We’ve made significant inroads into the targeted fleet market, both in North America and the U.K., and the additional expansion opportunities across markets and geographies are virtually unlimited,” continued Heeger.
Over 60,000 fleet drivers around the world are currently using the GreenRoad service and experiencing an average 50% reduction in crashes and instant savings to the bottom line by realizing up to 10% reduction in fuel consumption. To date the company has logged over 3 billion driver miles and continues to add over 100 million driver miles per month.
Heeger has a track record of growing emerging businesses into category leaders and plans to leverage that experience to continue GreenRoad’s growth momentum. He was most recently CEO of PayCycle, helping to build it from a small start-up in a relatively crowded market, into the leading online payroll service purchased in July 2009 by Intuit for $170 million. Prior to PayCycle, Heeger was the senior vice president of Adobe’s Creative Professional business unit, which grew dramatically under his direction. Heeger revamped the business strategy, launching the enormously popular Adobe Creative Suite as well as revitalizing other flagship products such as Adobe Illustrator CS and Adobe InDesign CS. Prior to Adobe, Heeger was senior vice president and general manager of Intuit’s Small Business division where he recorded record growth and steered expansion of the QuickBooks franchise into the payroll category.
GreenRoad also announced that Tanya Roberts has joined the company as senior vice president of marketing. Roberts also brings significant growth company experience to GreenRoad with previous successes at PayCycle, SugarSync, Fotiva and Intuit.
GreenRoad serves a blue-chip roster of leading customers including First Group, the U.K.’s largest bus and rail operator company, and Ryder, which provides leading-edge transportation, logistics and supply chain management solutions worldwide. Other customers include: Iron Mountain, Securitas Mobile, Mastec, Arctic Glacier, DuPre Logistics and Quickway Carriers.
GreenRoad has received numerous industry awards including most recently the 2011 Van Fleet World Honours Award for Safety.
GreenRoad allows safety and fleet managers to be dramatically more effective in their jobs. It’s estimated that driving decisions are responsible for 90% of all accidents and GreenRoad’s goal is to mitigate those crash-causing driving decisions
The GreenRoad service significantly improves fleet driver performance and safety through a comprehensive real-time driver performance management solution which includes:
A fleet management website reporting on overall safety performance as well as detail by driver, vehicle or route.
Individual web accounts for each driver providing insights into personal performance.
An innovative in-vehicle system measuring over 120 maneuvers and providing real-time, in-cab driver performance feedback.
A web-based training and coaching portal for drivers and managers.
GreenRoad is the leader in fleet driver performance and safety management. GreenRoad offers the industry’s most sophisticated, customizable technology solutions and services to maximize driving safety and efficiency, generating immediate cost savings. GreenRoad 360™ provides real-time feedback integrated with comprehensive online visibility. GreenRoad engage drivers on an ongoing basis to deliver lasting improvement to driver and fleet performance. The company is headquartered in Redwood City, CA, with offices throughout the U.S. and U.K., and Israel. For more information, visit www.greenroad.com.
Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now!
Take your pick!
- Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
- VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.