Friday, April 6, 2018

Lytx Raises Massive $700M Funding Round For Driver Safety Systems

San Diego-based Lytx, which develops video telematics products for driving fleets, has scored a massive, $700M funding round from a group of private equity investors. According to Lytx, the funding has an enterprise in excess of $1.5 billion. The funding came from Clearlake Capital Group, HarbourVest Partners, Public Sector Pension Investment Board (PSP Investments) and Guggenheim Investments, along with existing shareholder GTCR. Lytx develops video-driven telematics products, which are used by driving fleets to monitor driving habits and collect driving data. Lytx said it was advised by Rothschild & Co. and Kirkland & Ellis in the transaction. Lytx Chairman and CEO Brandon Nixon remains head of the company. GTCR acquired Lytx in 2016, for $500M in cash. More information »