“Fitbit for Cars” Raises $4M
Lightfoot , the UK company which sells a telematics system, has raised $4m in funding from the Business Growth Fund and Martin McCourt, former CEO of Dyson, bringing the company’s total funding to date to $5.4m.
Launched in 2013 by Mark Roberts, Lightfoot has been offering the product to companies with car fleets and now, the company is beginning to offer the product to private motorists in the UK.
Lightfoot’s telematic device plugs into a vehicle’s onboard computer and sits on the dashboard, giving drivers a quick heads up on their driving performance. The company offers rewards for good drivers such as discounts on restaurants, gym memberships, free coffee, and cheaper car insurance. The company ranks drivers by providing a score and allows them to compete in leagues – those who earn an ‘elite’ status are eligible for prizes and special deals.
“We’re on a mission to change the way people think about driving. And to make it fun again. We want everyone to enjoy the amazing benefits that smoother driving can have on their wallets and our planet. So far, we’ve created a community of Lightfoot drivers who are earning better deals for better driving – now, we’re excited to grow this with more like-minded motorists who believe good driving deserves rewarding. – founder and CEO of Lightfoot, Mark Roberts.
“Lightfoot is a vibrant, smart and ambitious business with a first-class management team. After five years of operation, they have established a strong reputation in the market and developed a clear strategy for growth. We’re pleased to be backing another fantastic business in the South West.” – BGF investor, Ned Drobin.
“Lightfoot has top class technology and engineering capabilities, the brand is fresh and approachable and when you walk into Lightfoot HQ you hit a wall of energy from a noisy bunch who are passionate about the benefits their product offers the planet. The parallels to my past are abundant – proud British engineering, disruptive technology and a team who can deliver… there’s a lot to be excited about!” – former CEO of Dyson, Martin McCourt.