Vehicle Tracking Solutions Receives $70M Investment
June 24, 2021—Vehicle Tracking Solutions, a New York-based telematics and fleet management company, announced Tuesday it will receive a $70 million dollar investment from private equity firm LLR Partners.
According to a report from Business Wire, the investment will be used to help accelerate the growth of IntelliShift, a division of VTS that offers a cloud-based fleet and safety management platform.
"This partnership will help power our product innovation, drive customer value by optimizing connected fleet and safety processes, and capitalize on a tremendous market opportunity with our new AI video offerings," VTS Founder and CEO John Cunningham said.
The investment, per the report, will fuel IntelliShift's "innovation, expansion in North America and an enhanced focus on the customer experience for digitizing and transforming fleet and safety management."