SaaS provider Netradyne secures $90M in Series D funding to expand footprint

Software-as-a-service (SaaS) startup Netradyne has raised $90 million in a Series D funding round led by Point72 Private Investments, along with participation from Qualcomm Ventures and Pavilion Capital.

The US- and Bengaluru-based startup plans to use the fresh funds to expand its global footprint, enhance its go-to-market investments, and accelerate strategic investments in R&D.

"Since our initial investment in 2018, we’ve witnessed Netradyne’s impressive growth and believe their technology is well-positioned not only to empower fleet managers but also to foster a culture of safe driving," said Sri Chandrasekar, Managing Partner at Point72 Private Investments, in a statement.

Netradyne utilises artificial intelligence and edge computing to deliver safety solutions for drivers and fleets. Its clientele spans various industries, including food and beverage, oil and gas, transportation, utilities, field services, and passenger transit.

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"This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even greater value to our customers worldwide. With this support, we are poised to scale our innovations globally, deepen our impact, and continue advancing safety and efficiency across the transportation industry, redefining what’s possible for fleets and communities alike," noted Avneesh Agrawal, CEO and Co-founder at Netradyne.

Founded in 2015, the company noted it has over 3,000 customers and over 4.5 lakh active subscribers across the globe including the United States, Canada, Mexico, Germany, the UK, Australia, New Zealand, and India.

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It has secured over $218 million through multiple funding rounds. Its most recent round, in September 2022, included $65 million in debt financing, comprising both senior and junior mezzanine loans from Silicon Valley Bank.