CameraMatics secure Series A fundraise
HMT LLP advised leading international vehicle and fleet safety solutions provider CameraMatics (‘the Company’) on their Series A fundraise from Puma Private Equity, Sure Valley Ventures and Enterprise Ireland.
Founders Mervyn O’Callaghan and Simon Murray launched CameraMatics in 2016 having identified a gap in the data and solutions used by fleet managers, vehicle manufacturers and insurance companies to run fleets of any size safely and efficiently, leaving them open to a variety of risks.
Within its first year of operations, the Company quickly established itself as the leading provider of smart telematics (comprising vehicle camera and tracking solutions) and vehicle safety solutions in Ireland, then the UK and now increasingly the US, winning numerous awards along the way.
The CameraMatics SaaS-based full-stack platform combines HD camera footage, telematics, autonomous driving technology and connected smart sensors to enable a fleet operator to manage all its fleet intelligence, fleet safety and compliance in one simple-to-use platform, in real time.
With this new investment from Puma Private Equity alongside significant investment from existing shareholders Sure Valley Ventures and Enterprise Ireland, the Company is well-positioned to benefit from the explosive growth in increased safety and telematics data requirements for fleet managers worldwide and is set to benefit from wider IoT (Internet of Things) adoption and the roll out of faster network platforms such as 5G.
HMT provided lead advisory services to CameraMatics on this transaction, which included identifying suitable strategic investment partners and project managing the deal to a successful completion.
Mervyn O’Callaghan of CameraMatics commented:
Jonathan Wyles of Puma Private Equity commented:
“We are thrilled to be supporting CameraMatics in the next wave of their growth as the Company builds on the extensive successes achieved to date. We would also like to thank Ricky and James for their skill, diligence and professionalism in co-ordinating a very complicated fundraise in such an unusual operating environment.”
James Thomas commented:
“We are delighted to have been able to assist Mervyn and Simon on this fundraise which will allow CameraMatics to reinforce its reputation as a market leading technology solutions provider and to exploit immediate global sales channels. The adoption of IoT solutions within the telematics industry is set to accelerate over the coming years and through this investment, the Company will be able to capitalise on the next wave of growth. We wish Mervyn, Simon and the team all the best for the future and look forward to working together again.”
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