US-based trucking analytics software provider Idelic has completed a $20m series B round that included Axa Venture Partners, a corporate venturing subsidiary of insurance firm Axa.
Venture capital firm Highland Capital Partners led the round, which also featured Birchmere Ventures, Origin Ventures, TDF Ventures and SaaS Venture Capital. Craig Driscoll general partner at Highland Capital Partners, will take a seat on the company’s board of directors.
Idelic has built a driver management software platform that enables users to analyse data and analytics from an entire trucking fleet simultaneously to monitor driver behaviour and safety.
Birchmere Ventures, McCune Capital and M25 Group supplied $1m in seed capital for the company in 2017 and it added $2m in a 2018 round led by Bain Capital Ventures and backed by TDF Ventures, SaaS Venture Capital, Birchmere Ventures and M25 Group.
Origin Ventures led Idelic’s $8m series A round in September 2019, participating alongside TDF Ventures, Birchmere Ventures, Bain Capital Ventures and SaaS Venture Capital.
