Netradyne, an innovative SaaS company specializing in artificial intelligence (AI) and edge computing, has successfully raised $90 million in its Series D funding round.
The round was spearheaded by Point72 Private Investments, with additional contributions from Qualcomm Ventures and Pavilion Capital.
This fresh funding will be directed toward accelerating the company’s growth, with key investments planned for research and development, expanding global markets, and strengthening go-to-market strategies.
Established in 2015 by Avneesh Agrawal (CEO) and David Julian (CTO), Netradyne delivers cutting-edge AI-powered solutions for fleet safety and video telematics. The company operates from its headquarters in San Diego, California, with regional offices in San Francisco and Bangalore, India, and serves customers in countries like the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India.
Netradyne’s flagship product, Driver.i, leverages advanced AI to monitor driving behavior, recognizing both safe and unsafe practices. This technology aids in building trust between companies and their drivers, offering real-time coaching and actionable insights. By reducing accidents, lowering insurance costs, improving productivity, and ensuring regulatory compliance, Driver.i supports businesses in enhancing overall fleet performance.
The company’s solutions cater to diverse industries, including online retail, transportation, food and beverage, construction, utilities, field services, oil and gas, and passenger transit. Over 3,000 businesses currently use Netradyne’s services, with an impressive 450,000 active subscriptions globally. With this latest funding, the company is gearing up to expand its footprint into new markets, particularly in Europe and Japan.
To date, Netradyne has raised over $350 million in funding. Previous rounds include $65 million secured in September 2022 from Silicon Valley Bank and a $195 million investment led by SoftBank Vision Fund in July 2021. The company also counts Reliance Industries, led by Mukesh Ambani, among its early investors.
With its latest capital infusion, Netradyne is poised to lead the way in transforming fleet management through AI innovation, ensuring safer roads and more efficient logistics across the globe.