Lytx has increased subscriptions for its video-based telematics system by more than 25% in the past year since being acquired by private equity firm GTCR, the company announced.
Since February of 2016, Lytx has added 101,000 new subscriptions to reach more than 400,000. Also, 907 new companies adopted Lytx DriveCam programs over that period, which brings the total client count to more than 2,200.
The company has logged 33 consecutive quarters of double-digit growth in subscriptions. And for the second consecutive year, nearly half of its clients expanded their fleet deployments. In 2016, Lytx added contract committments of more than $220 million.
During the year, Lytx clients reduced their claims by $1,750 per vehicle, which doesn't include additional savings in fuel consumption and maintenance brought by safer driving habits.
Lytx's flagship product is DriveCam, which has been added to more than 650,000 vehicles around the globe. The company also offers ActiveVision, a system than detects distracted and drowsy driving and provides immediate feedback. In 2016, Lytx introduced the Unisyn platform that allows fleet managers to access live and recorded video from remote access points.
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