Netradyne, a SaaS provider of artificial intelligence (AI) and edge computing, has raised $90 million in its Series D funding round led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital.
The funds raised will be strategically invested in R&D, enhanced go-to-market investments, and aggressive global expansion, solidifying Netradyne as a commercial fleet technology.
This round marks the second investment by Point72 Private Investments in Netradyne, following a Series B investment in 2018.
Netradyne has secured over $308 million through multiple funding rounds. Its most recent round, in September 2022, included $65 million in debt financing, comprising both senior and junior mezzanine loans from Silicon Valley Bank.
“The successful completion of our Series D funding round is a significant milestone for Netradyne and a testament to the confidence our investors have in our vision and innovative approach to AI-powered fleet safety solutions. This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even greater value to our customers worldwide. With this support, we are poised to scale our innovations globally, deepen our impact, and continue advancing safety and efficiency across the transportation industry, redefining what’s possible for fleets and communities alike,” Avneesh Agrawal, CEO and Co-Founder at Netradyne.
“Investing in Netradyne is about believing in safer roads and supporting professional drivers. Since our initial investment in 2018, we’ve witnessed Netradyne’s impressive growth and believe their technology is well-positioned not only to empowers fleet managers but also to foster a culture of safe driving. We are excited to continue our partnership with Avneesh and the Netradyne team as they advance their mission to transform the global transportation industry,” said Sri Chandrasekar, Managing Partner at Point72 Private Investments.
Founded in 2015 by Avneesh Agrawal (CEO) and David Julian (CTO), Netradyne provides AI-powered fleet safety and video telematics solutions. Netradyne’s solutions offer a comprehensive, and accurate assessment of driver performance by analyzing 100% of drive-time data.
Netradyne has over 3,000 customers and over 450,000 active subscribers serving customers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India with planned expansion throughout Europe and Japan.
