DRIVE secures funding from Swiss private equity investor

DRIVE Software Solutions (DRIVE) has secured funding from Swiss investment firm VIVA Investment Partners (VIP) to accelerate its global growth in the consolidating digital fleet management market.  

Based in Stevenage UK, DRIVE is the company behind ODO, the leading software as a service (SaaS) product that manages the administration, service delivery and compliance of customer vehicle assets through one secure, organised application.

The ODO platform runs on Oracle Cloud and is deployed in either an App, Tablet or PC form. It enables SME businesses to transform their purchasing and control all vehicle asset-related services in an ordered service usage model. 

VIVA Investment Partners, with a focus on the transportation and mobility sectors including aviation, spacetech and the automotive ecosystems, considers digital services as an integral part of the future of the car industry.  

To oversee the company’s global expansion, Alastair Houston has been appointed as the new CEO of DRIVE. Alastair brings more than 30 years’ experience in the automotive sector, most recently as Managing Director of Sandicliffe Motor Contracts and as a board member at Northgate. He has extensive management experience and has consistently executed profitable sales growth.  

Commenting on VIP’s investment in DRIVE, Houston said: “The automotive sector is going through unprecedented change, resulting from the fragmentation within the marketplace. ODO is a brilliant and simple solution to seamlessly connect fleet providers, services and end users. We have a unique product and are thrilled to now have the financial strength and expertise that VIVA Investment Partners brings to the business. Securing this expansion funding from a sophisticated international investor despite the uncertainties around Brexit is a significant milestone.”   

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