SAN DIEGO--(BUSINESS WIRE)--DriveCam Inc., a global Driver Risk Management company, is pleased to announce the company experienced orders growth in 2010 of 87% – marking seven consecutive quarters of profitability and positive cash flow. This growth in sales reflects expansion in the company’s subscription base which on average has nearly doubled in each of the past four years, growing at a compound annual growth rate of 96%.
“In this economy, we couldn’t have achieved our continual success without the validation from our clients that a safer fleet is also more competitive and more profitable,” commented DriveCam CEO Brandon Nixon. “The orders growth is due to the powerful combination of clients acquiring subscriptions for entire fleets and committing to DriveCam with multi-year, long-term contracts – another validation in our service’s ability to protect both drivers and bottom lines.”
In 2010, DriveCam added many new fleets to its roster of clients, highlighted by Sysco, Masco and the Washington Metropolitan Transit Authority (WMATA), and deepened and extended relationships with top-tier fleets, such as AmeriGas and Waste Connections. “In addition to adding many marquis fleets to our customer base, our renewal rate continues to exceed expectations,” Nixon commented.
“The strength of our financial performance and our balance sheet has allowed us to continually invest to expand the value we deliver to our clients. For example, in 2010, we broadened our service offering beyond its core safety and risk management solution to help clients save on fuel costs and wasted productivity. Since we are only in the initial phases of delivering on all the benefits we can provide to our clients, we expect that we will continue to invest heavily in our service offering for the foreseeable future,” Nixon continued.
“We are proud to be working with some of the best fleets in the world. We could not have achieved the results we have without the close partnerships with our clients. Our main focus is, and always will be, to help make them successful in their businesses,” added Nixon.
About DriveCam Inc.
As proven experts in the science of safe and efficient driving, DriveCam prevents collisions and reduces fuel costs by improving the way people drive. Our solution addresses the causes of poor driving by combining data and video analytics with real-time driver feedback and coaching, resulting in reductions in collision-related costs and fuel consumption in over 150,000 commercial vehicles. In addition, DriveCam has monitored and analyzed data from over 3 billion driving miles and holds the world's largest database of risky driving, which is continually used to improve proprietary analytics and deliver insights into transportation industry trends. DriveCam was recently recognized as #30 in The Wall Street Journal’s listing of Top 50 Venture-Backed Companies. For more information, visit www.drivecam.com.