Clearlake Capital Group of Santa Monica has joined forces with GTCR of San Diego to invest in Lytx Inc., a video-based tech company to help fleets improve driver safety.
Terms of the deal announced on April 6 were not disclosed.
Lytx, a private company founded in San Diego in 1998, employs video and data to enable corporate fleets to improve safety, efficiency and revenue growth.
The pioneer and leader in so-called “video-based telematics” now serves more than 3,000 commercial and government fleets that log billions of miles a year, in addition to 500,000 subscribers.
Clearlake Capital, ranked No. 10 on the Business Journal’s 2017 list of largest private equity firms in Los Angeles, has managed more than $7 billion in institutional capital. Last month, it completed fundraising for its Fund V at $3.6 billion.
Health business reporter Dana Bartholomew can be reached at firstname.lastname@example.org. Follow him on Twitter @_DanaBart.