The latest update from CameraMatics;
CameraMatics, the Irish-founded leader in AI-driven video telematics and fleet intelligence, has secured up to €49 million in investment from a consortium led by Blume Equity, alongside the Ireland Strategic Investment Fund (ISIF) and Goodbody Capital Partners (on behalf of AIB). The funding will support the next phase of CameraMatics’ international expansion and continued product innovation as the company scales its AI-powered fleet intelligence platform across the UK, Ireland, Europe and the United States – critical regions for construction and commercial fleet operators looking to enhance safety, operational efficiency, and sustainability.
Founded in 2016 by fleet industry veterans Mervyn O’Callaghan and Simon Murray, CameraMatics has built one of the leading connected fleet intelligence platforms in the market, combining AI-driven video intelligence, advanced driver assistance systems and real-time operational analytics to help commercial fleet operators improve safety, reduce operational risk and lower carbon emissions.
Driving standards in commercial and construction fleet safety
CameraMatics’ mission is to reduce driving and work-related accidents to zero by transforming driver behaviour, improving fleet visibility and raising driving standards globally through advanced AI-powered technology. The company continues to invest heavily in innovation, machine learning, predictive safety technologies and connected fleet intelligence solutions designed to reshape commercial driving standards worldwide.
The company has delivered consistently strong revenue growth since its founding, expanding its customer base across international and domestic markets in the construction and commercial fleet sectors, as well as securing leading blue-chip customers and accelerating enterprise adoption. Now serving nearly 1,000 fleet customers, CameraMatics supports operations across thousands of commercial and construction vehicles throughout the UK, Ireland, mainland Europe and the United States. The company employs more than 150 people across offices in Dublin, Waterford, Darlington, London, Amsterdam, Barcelona and the United States.
Recent enterprise contract wins include major organisations such as Royal Mail, Calor Gas, Wolseley, XPO and DFDS, while in the United States the company has expanded significantly through deployments with NASDAQ-listed Installed Building Products (IBP), which operates across more than 250 depots nationwide.
Over the past two years, CameraMatics has experienced particularly strong momentum in the enterprise fleet segment, where demand for AI-powered safety, compliance and operational efficiency solutions continues to accelerate across logistics, distribution, utilities and infrastructure sectors.
The investment will be used to accelerate CameraMatics’ go-to-market expansion, strengthen its enterprise sales and customer success capabilities, further invest in AI and sustainability-focused product innovation, and support the company’s continued growth across North America and mainland Europe.
Existing investors including Puma Growth Partners, Sure Valley Ventures and Enterprise Ireland will remain shareholders in the business; Salica Investments continue to support the growth of CameraMatics with the continuation of debt finance.
Co-founders Mervyn O’Callaghan and Simon Murray will continue to lead the company’s long-term growth strategy. AGC Partners advised the existing shareholders on the transaction.
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