SureCam raises $11.5 million

Video telematics company SureCam closed an $11.5 million funding round.

The round was led by Lewis & Clark Capital, SureCam’s majority shareholder, with participation from existing shareholders, and the addition of Virginia-based CCA Financial, one of America’s largest independent technology and equipment financing companies.

Founded in 2014, SureCam’s customers include fleets as large as 6,000 vehicles. It primarily focuses on small and midsize businesses, particularly those in the field services, utilities, construction, and local delivery sectors. According to the company it grew from less than 10 employees and a handful of customers in 2017 to more than 1,000 customers and 60 employees today.

Funds from the investment round will focus on product development and expanding SureCam’s customer base more rapidly.

“We have tapped into a segment of the market that has historically been overlooked by technology providers,” Harvatin said. “Small and midsize businesses have found other video telematics solutions to be highly complex and expensive. At SureCam, we’re relentlessly focused on delivering the core video functionality and safety insights that drive the greatest return on investment. We are excited to leverage this funding round to continue reaching those fleets.” – Staci Harvatin, SureCam’s Senior Director of Global Marketing.