New World Ventures’ portfolio company Fleetmatics began trading on the New York Stock Exchange October 5th under the ticker FLTX.
Fleetmatics is a leading global provider of fleet management solutions for small and medium-sized businesses delivered as software-as-a-service (SaaS). The company’s solutions enable businesses to meet the challenges associated with managing local fleets and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data. Fleetmatics serves more than 16,000 customers, tracking more than 280,000 vehicles worldwide. New World Ventures invested in the company in 2010.
Fleetmatics is part of the firm’s portfolio of companies that are transforming enterprise applications and making SMB's more efficient. Other recent investments in this area include: Firm58, providing SaaS-based financial management solutions; HyperQuest, offering innovative software solutions to the property and casualty insurance industry; and Kontiki, providing a cloud-based, enterprise video platform.
