Idrive
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Idrive - overview
Established
2009
Location
Santa Barbara, CA, US
Primary Industry
Software
About
Idrive is a technology company specializing in AI-powered video telematics solutions that enhance vehicle tracking and driver monitoring for various industries. Idrive was founded in 2009 in Santa Barbara, US, focusing on innovative telematics solutions. In September 2024, SaaS Capital provided 3 million in debt financing to Idrive. IdriveAI specializes in advanced AI-powered video telematics solutions, with its flagship product being the Pro7, a dual-camera system designed for real-time vehicle tracking and driver monitoring.
The Pro7 utilizes artificial intelligence and deep learning to prevent incidents related to driver fatigue and distraction. Its applications span logistics, trucking, oil and gas, passenger transportation, heavy machinery, intermodal transport, and waste management. All hardware and software are designed and manufactured in-house, ensuring product reliability. IdriveAI's solutions are utilized by fleet operators in the USA and Europe seeking to enhance safety and compliance while reducing operational costs.
IdriveAI operates on a Software as a Service (SaaS) model, offering flexible service options including packaged solutions and à la carte choices. Clients engage through subscriptions to the NEXUS platform, integrating seamlessly with existing fleet devices. Revenue is largely driven by ongoing subscription fees linked to the Pro7 and additional services like vehicle tracking and API integrations. The pricing structure accommodates both large enterprises and smaller fleets, ensuring scalability and tailored solutions.
Revenue is further bolstered by partnerships with various industry players, enhancing market reach. IdriveAI plans to leverage its recent funding of USD 3 million from SaaS Capital, secured in September 2024, to develop new products and expand its market reach. The company aims to launch updated versions of the Pro7 and introduce additional telematics solutions by mid-2025. Furthermore, IdriveAI is targeting expansion into Asia and South America by the end of 2025, enhancing its global footprint and service capabilities.
Primary Industry
Software
Sub Industries
Analytics & Performance Software, Monitoring & Security Software
Website
www.idrive.ai
Verticals
Artificial Intelligence, Big Data, Cloud Computing, Mobile Apps
Total Amount Raised
Subscriber access only
Idrive - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Private Debt | Completed | Idrive | - |
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