A Chicago-area company that installs cameras inside trucks to improve safety just raised $4 million in funding.
SmartWitness announced Tuesday that it raised the Series A funding from First Analysis, a Chicago-based VC firm.
Founded in 2007, Schaumburg-based SmartWitness designs in-vehicle cameras and software for trucking fleets. Fleet operators use SmartWitness to record activity from a variety of views to improve safety and assist in insurance matters following accidents or other incidents.
Working with primarily small and medium-sized fleet operators, SmartWitness says it protects more than 250,000 vehicles from 1,500 fleets.
“After studying the market, we believe SmartWitness is the leading video solutions provider with an uncommon business model designed to support the existing fleet telematics provider channel, enabling vendors to compete with point solutions providers in video," Howard Smith, managing director at First Analysis, said in a statement.
First Analysis has also backed Chicago companies such as Trustwave, which was acquired for more than $800 million, and Yello, which has raised more than $40 million to date.
