SureCam, a video telematics company primarily focused on small and midsize businesses in the field services, utilities, construction and landscaping sectors, closed a funding round of $11.5 million. Lewis & Clark Capital, SureCam’s majority shareholder, led the round along with participation from existing shareholders and the addition of CCA Financial, an independent technology and equipment financing company.
“We’re thrilled to support SureCam’s growth trajectory,” said Kyle Quearry, president of CCA Financial. “For us, it strategically makes sense to support a leading video telematics provider that caters to small and midsize businesses. This is a market that is grossly underserved and SureCam has demonstrated its ability to deliver a fleet video solution with strong retention.”
Staci Harvatin, SureCam’s senior director of global marketing said the funding round and momentum is validation that what the company is doing resonates with small business operators and even larger businesses that need something that’s reliable, intuitive and cost-effective to manage their fleets.
“Funds from the investment round will focus on product development and expanding SureCam’s customer base more rapidly,” said Arpan Majumder, SureCam’s CFO and COO.
Along with the new funding, SureCam adds investor and entrepreneur Jason Koch, co-founder of Telogis, to the board of directors.
“We are delighted to welcome Jason and CCA to the SureCam family,” said Max Hillman, SureCam’s president. “Jason brings an immense understanding of the industry from his experience building Telogis into a global telematics leader.”