In the Driver's Seat | October 2009

In this issue

• Government Agencies Comply with New Presidential Text-Messaging Ban
• DriveCam Closes $19 Million in Growth Capital Financing
• Drive Safely Work Week Set for October 5-9
• DriveCam Featured in Latest Discovery Channel Program: The Truth About Traffic
• Drop in Fatalities Encouraging: Economy Noted as Biggest Factor
• DriveCam Supports National Ban on Texting While Driving
• DriveCam Participates in Distracted Driving Summit
• Operation Safe Driver Set for October 18-24

• Government Agencies Comply with New Presidential Text-Messaging Ban

  As a result of President Obama's new ban on text messaging behind the wheel of government vehicles and texting in personal vehicles if using government-issued phones or on official business, several federal, state and municipal government agencies increased their fleet deployments of DriveCam's Driver Risk Management Program to assist in detecting distracted driving - adding to the thousands of government fleet vehicles already deployed throughout the country. Most, if not all, of these agencies are authorized to purchase DriveCam's products and service directly from the GSA Schedule.

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• DriveCam Closes $19 Million in Growth Capital Financing

  DriveCam recently announced that it had secured $19 million in Series D capital financing. Led by new investor Triangle Peak partners, the financing includes full participation by existing investors Menlo Ventures, Insight Venture Partners, Integral Capital Partners and JMI Equity. This round comes on the heels of a breakout year for DriveCam, marked by exceptional year-over-year revenue growth, a 50% increase in the size of its client base, and positive cash flow for the first time in the company’s history.

  “As the leader in Driver Risk Management, DriveCam is on the cusp of bringing their unique video technology to every enterprise fleet in the world,” commented Michael Morgan, Chairman and CEO of Triangle Peak and former CEO of Kinder Morgan. “We did our due diligence in all of DriveCam’s major industries and found it to be the dominant player in its field. Combining its deep experience and unparalleled expertise, we know DriveCam will succeed.

  Doug Carlisle, Managing Director, Menlo Ventures, commented, “We were one of DriveCam’s first investors and we continue to believe in its value proposition. Menlo always wants to work with companies, like DriveCam, who are exceeding plan – particularly in a tough economy. These are the kinds of companies we want to invest in and are thrilled to have DriveCam as an important part of our portfolio.”

  “It’s exciting to be recognized by a leader in the investment community for our hard work and success,” remarked Brandon Nixon, DriveCam CEO. “This past quarter was phenomenal and resulted in DriveCam producing positive cash flow for the first time in its history. Following on this success, we will use the investment capital to continue investing in innovative technology and solutions that bring positive results for our clients.”

• Drive Safely Work Week Set for October 5-9

  The annual Drive Safely Work Week (DSWW), Oct. 5-9, takes aim at distracted drivers, a factor in more than three-fourths of all vehicle crashes in the U.S. and a cost to employers in the billions of dollars.

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• DriveCam Featured in Latest Discovery Channel Program: The Truth About Traffic

  DriveCam was featured on the Discovery Channel’s latest show, “The Truth About Traffic.” Check the Discovery Channel schedule for future airings, along with airings on the Science Channel. Delving into the science of traffic, this one-hour program focuses on why we have traffic jams, how to reduce traffic and how to improve today’s drivers.

• Drop in Fatalities Encouraging: Economy Noted as Biggest Factor

  Though the global economic downturn is being tagged as “the biggest factor” in a record drop in annual car-truck crash fatalities, federal officials and industry executives alike believe the steep decline shows that trucking is making serious strides when it comes to safety improvements.

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• DriveCam Supports National Ban on Texting While Driving

  DriveCam recently voiced support for legislation requiring states to pass laws banning text messaging while operating a moving vehicle. DriveCam also expressed support for the Distracted Driving Summit announced by the U.S. Department of Transportation where transportation leaders, members of Congress and safety groups will come together to reduce accidents and fatalities caused by distracted driving. DriveCam has been invited to participate in the Summit.

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• DriveCam Participates in Distracted Driving Summit

  DriveCam was selected as one of the organizations to participate in The U.S. Department of Transportation’s Distracted Driving Summit. Taking place in Washington, D.C., this Summit was held to determine the best ways to reduce the number of crashes and deaths due to distracted driving on Wednesday, September 30 and Thursday, October 1.

  "Safety is our number one priority," said Secretary of Transportation, Ray LaHood. "As we become a more mobile and wireless nation, we can't afford to ignore new technology's impact on roadway safety."

  The Distracted Driving Summit brought together senior transportation officials, elected officials, safety advocates, law enforcement representatives, private sector representatives and academics to address a range of issues related to reducing accidents through enforcement, public awareness and education.

  “This summit not only brought leaders in transportation safety together to talk about this issue,” said LaHood, “It also gave people from all over the country—and world—the opportunity to be a part of this historic dialogue.”

  To accommodate the strong response, the summit was available live by webcast and members of the public were given the opportunity to submit questions online for each individual panel discussion.

  In addition to DriveCam's participation in the Summit discourse, we were the only commercial company invited to participate in the Summit's showcase where DVDs of distracted driving video events were distributed. These events were compiled from DriveCam's database of over 14 million driving events; some of these distracted driving events area now available on DriveCam's website, www.drivecam.com.

• Operation Safe Driver Set for October 18-24

  The Federal Motor Carrier Safety Administration (FMCSA) and the Commercial Vehicle Safety Alliance (CVSA) of state, provincial and local law enforcement and industry officials will sponsor the second Operation Safe Driver campaign, October 18-24, 2009.

  Inattention, poor awareness of traffic conditions and unsafe maneuvers by drivers are leading the causes of fatal crashes between passenger cars and commercial vehicles, according to the FMCSA.

  Operation Safe Driver will hold activities across the United States, Canada and Mexico to heighten traffic enforcement, safety belt enforcement, roadside truck and driver regulatory inspections, as well as educational and awareness programs for the motoring public about safe operations around big trucks.