Matrix Telematics secures growth private equity investment from Bridges Fund Management valued at over £60m.
Bridges Fund Management backs Matrix Telematics to support safer and more efficient driving.
Matrix Telematics is a fleet telematics and software provider that helps to improve driver safety and reduce emissions.
Bridges Fund Management has acquired a growth equity stake in Matrix Telematics, valuing the fleet software provider at over £60m. The transaction supports the company as it expands its driver safety and emissions reduction technology across commercial fleets.
The Cheshire-based business was founded in 2001 by CEO Mark Packman and Chairman Wayne Shillito. It uses in-vehicle devices to generate detailed performance reports and offers the DRiiVE platform for occupational road risk management.
Bridges is executing the transaction through its Sustainable Growth Funds, aligning with its impact goals in health and environmental sustainability. The investment team was led by partner Simon Braham.
From the founder
"We’re delighted to partner with Bridges. We were looking for an investor who not only shared our vision and ambition for the company’s growth, but also really understood our mission to improve driver safety and reduce accidents on our roads. Their experience of scaling companies like ours – plus their impact expertise in powering better outcomes – will be highly beneficial as we enter the next phase of our growth."
Mark Packman
CEO at Matrix Telematics
Investors
Categories
About the company
Matrix Telematics
Fleet telematics and software provider focused on driver safety and emissions reduction.