Corporate Performance Management

Corporate Performance Management

March 08, 2011

Corporate Management Software Provider ZoomSafer Secures Financing for Product Development

ZoomSafer, a provider of risk management software to prevent employee use of mobile phones while driving, has closed an additional $1.1 million financing.

The company raised the financing from White Birch Capital and SugarOak Holdings.

Officials with ZoomSafer said that proceeds will help the company to fund expanded marketing and further develop patented and award-winning software products.

“Employees who text, e-mail or browse the Web while driving are a ticking-time-bomb in terms of corporate liability, which is why companies must protect themselves,” said Matt Howard, founder and CEO of ZoomSafer, in a statement.

Howard said that this additional financing will enable the company to strengthen its existing products, expand marketing, and help more fleets to comply with regulations, reduce crashes and save money.

“Companies that apply resources to monitor and minimize employee use of mobile phones while driving are likely to perform better than those who don’t,” said Bob Spass, managing partner at White Birch Capital and founding partner at Capital Z Partners.

White Birch is an early stage investment fund dedicated to helping talented entrepreneurs’ foster intelligent ideas and brighter futures.

Spass said that ZoomSafer’s software meets a growing corporate need to manage employee driving risks and the company is excited to partner with them as they continue to grow.

“Control and prevention of distracted driving is one of the most difficult challenges that fleet operators face today,” said Sandeep Kar, manager of commercial vehicle research at Frost & Sullivan (News - Alert).

Kar said that ZoomSafer has pioneered an innovative set of products and is uniquely positioned to help fleet customers address the challenges associated with distracted driving.

Back in September, ZoomSafer and inthinc, a provider of technology to improve driving behavior, had announced at the Department of Transportation's second national Distracted Driving Summit a partnership to deliver an integrated solution to proactively improve teen driving behaviors and eliminate the dangerous temptation to text when behind the wheel.

Anil Sharma is a contributing editor for TMCnet. To read more of his articles, please visit his columnist page.

Edited by Tammy Wolf

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