Customers of Innovative, Benchmark Capital and Balderton Capital-funded Company Achieving an Average of 54 percent Accident Reduction and 65 percent Lower Accident Costs
REDWOOD SHORES, Calif., – September 17, 2007 – GreenRoad Technologies Inc., an innovative leader in driver safety technologies, today announced the launch of the company, expansion of its offices into Silicon Valley and the UK and a new global management team. GreenRoad is focused on improving driver safety for fleets and insurance companies with its Safety Center solution. Safety Center reduces driver crashes by an average of 54 percent, lowers accident costs by an average of 65 percent and lowers fuel consumption by an average of seven percent — without invading driver privacy. By empowering drivers to manage their own safety, GreenRoad can change driver behavior behind the wheel.
With funding from Benchmark Capital and Balderton Capital (formerly Benchmark Europe), GreenRoad recently established new headquarters in Silicon Valley and opened offices in the UK — in addition to its previously existing office in Israel, where the company was founded in 2002. GreenRoad has been operating under the name of DriveDiagnostics while in the testing phase, and has been testing its Safety Center solution for more than two years with pilot customers in the US, UK and Israel.
The company has recently hired a global management team that includes:
• Dan Steere, CEO, a Silicon Valley veteran with more than 20 years of experience in mobile devices and services, whose previous work includes leadership roles at Matrix Semiconductor, SanDisk Corporation and Intel.
• Hertzel Yehezkely, COO, brings 25 years of experience in technology and operations management. His previous roles include COO of Transtech Control, Ltd, and Axonlink as well as 15 years in the Intelligence Corp of the Israel Defense Forces in advanced technology and management roles.
• Aidan Rowsome, Vice President of Europe, Middle East and Africa, brings more than 20 years of management experience including leadership roles at RAC Software, Bid.com, and TELUS.
• Paige O’Neill, Senior Vice President of Worldwide Marketing, with 15 years of marketing and product management experience, whose previous roles include leadership positions at PHH Arval and Oracle Corporation.
• Pete Allen, Vice President of North American Sales, a telematics industry expert with 15 years of sales leadership experience. His previous experience includes XATA and Cadec.
These new management team members join GreenRoad founders Ofer Raz, CTO, and Hod Fleishman, SVP of Business Development.
Full bios of the executive team can be found at http://www.greenroadtech.com/driver-safety/executive-team.ht....
GreenRoad Clients See Reduced Accident Rates and Costs
During its testing phase, GreenRoad partnered with a number of pilot customers including T-Mobile in the UK, who deployed Safety Center in service vehicles beginning in late 2006. The results of this trial, as audited by an independent risk management firm, include an annual reduction in crash costs of 23 percent.
GreenRoad rates drivers as red, amber or green (the best) depending on their behavior. Over a six-month period, the T-Mobile fleet driving improved dramatically from 69 percent red drivers and 10 percent green drivers to 35 percent red and 38 percent green. In addition, fuel consumption from January to March 2007 dropped 2.8 percent. Additional research from GreenRoad has shown that the average accident cost reduction its customers are achieving is 65 percent.
"Our number one priority at GreenRoad is to improve driver safety. Our solution enables the driver to be in-control of the situation and improve their driving habits for an overall safer experience," said Dan Steere, CEO of GreenRoad. “Many times fleet managers meet resistance from drivers who oppose a monitoring system. Safety Center effectively addresses that issue by changing driver behavior to reduce the number of collisions—all with zero invasion of privacy.”
More about Safety Center
GreenRoad Safety Center combines in-vehicle driver coaching with integrated web reporting for an advanced approach that rates driving skills without invading the driver’s privacy or tracking location. Safety Center uses a sensor in the car to collect information about driver skills, attitude, speed and the journey. The sensor detects 120 different driver maneuvers in five categories: speed, braking, acceleration, lane-handling and turning.
GreenRoad’s research and development team spent five years developing algorithms that analyze the raw motion data and convert it into meaningful information about driver behavior and patterns. These results were then compared to driver safety statistics and found to be accurate in predicting high-risk drivers.
Safety Center continually sends data from the car to a web server. Every minute the vehicle is on the road is instantly analyzed, not just exceptional events, giving a holistic view of the driving experience.
Through extensive testing, GreenRoad has developed a methodology to communicate feedback effectively to drivers using light signals on the dashboard, and optional SMS and email messages that can be customized according to driver preferences. Drivers, fleet managers and insurance companies can also use Safety Center’s suite of web-based driver performance management tools to view high-level reports on driving performance as well as exception-based reporting. Drivers can see which areas they need to improve, and fleet managers and insurance companies can immediately pinpoint high-risk drivers and effectively target specific training measures.
Safety Center is an easy-to-install solution and is customizable for individual fleet policies. It automatically generates reports and sends feedback to drivers, making it scalable to implement in the largest fleets in the industry without requiring additional in-house support.
Safety Center customers have:
• Reduced crashes by an average of 54 percent
• Lowered accident costs by an average of 65 percent
• Reduced high risk driving behavior by 50 percent
• Reduced at fault accidents by an average of 42 percent
• Decreased fuel costs by seven percent
GreenRoad develops driver safety technologies that stop risky driving before an accident occurs, and dramatically reduce crash rates for fleets and insurance companies. Its solutions are designed to empower drivers to manage their own safety by giving instantaneous, in-vehicle driver coaching — without privacy invasions. Safety Center focuses on how they are driving, not where, and does not watch the drivers with intrusive video cameras. Over time, Safety Center has proven that it can change driver behavior behind the wheel. The result is fewer accidents, lower accident costs and safer drivers.
For more information about GreenRoad, visit http://www.greenroadtech.com .
# # #
For interviews and images please contact:
Breakaway Communications Europe
Tel:+44 7949 883636
Breakaway Communications for GreenRoad
Tel: +1 415-358-2491
This press release was distributed by ResponseSource Press Release Wire on behalf of Breakaway Communications in the following categories: Motoring, Business & Finance, Computing & Telecoms, Transport & Logistics, for more information visit https://pressreleasewire.responsesource.com/about.