The driving performance management company raised the cash in a Virgin-backed round that will facilitate growth in the US, Europe and the Middle East.

Greenroad Technologies, a US-based provider of performance management technology for drivers, raised $26m in growth equity funding yesterday from investors including Virgin Green Fund, the corporate venturing arm of conglomerate Virgin.

Private equity firm Israel Growth Partners led the round, which also included Amadeus Capital Partners, Benchmark Capital, DAG Ventures and Generation Investment Management.

Founded in 2004, Greenroad has developed a platform that uses mathematic modelling to help operators manage fleets, improving safety and fuel economy in the process. Its…