Cadec Global has raised an additional $4 million from previous investor Thule Investments. The capital will be used to strengthen Cadec’s balance sheet and further fuel its continued growth and success in the burgeoning trucking fleet management market.
In the past year, the company has achieved a number of milestones including:
•Completing its first major PowerVue implementation.
•Increasing adoption of its new Mobius Insight module, a new fleet intelligence application that expands business visibility and management of delivery operations.
•Being awarded a patent for its truck-specific anti-rollover technology, and applying for a patent related to its remote-engine shutdown technology.
•Expanding its management team, including the hiring of Tom Basset as chief financial officer.