- Irish AI fleet-safety company CameraMatics has secured up to €49 million from Blume Equity, the Ireland Strategic Investment Fund, and Goodbody Capital Partners to accelerate its enterprise expansion across North America and mainland Europe.
- The company now works with nearly 1,000 commercial fleet customers, such as Royal Mail, XPO, and DFDS, across the UK, Ireland, Europe, and the US. It employs over 150 people across seven offices worldwide.
- The rise lands as the global video telematics market heads toward $6.1bn by 2030, growing at nearly 16% a year.
Every working day, thousands of commercial vehicles, including mail lorries, gas tankers, construction trucks, and last-mile delivery vans, travel through the UK, Ireland, Europe, and the US. CameraMatics helps spot accidents that drivers might not see coming.
The Dublin-founded company has now secured up to €49 million from a consortium led by Blume Equity, alongside Ireland Strategic Investment Fund and Goodbody Capital Partners, to take that reach considerably further.
CameraMatics was founded in 2016 by fleet vets Mervyn O’Callaghan and Simon Murray, who spent nearly two decades working in fleet technology before starting the company. They identified a marketplace fragmented among hardware suppliers, telematics vendors, and dashcam software providers, leaving fleet operators exposed to safety risks, regulatory liability, and rising insurance costs.
The startup now serves nearly 1,000 fleet customers across the UK, Ireland, mainland Europe, and the US, supporting operations across thousands of commercial vehicles. It has delivered consistent revenue growth since its founding, and is on track to exceed €30 million in contracted recurring revenue in 2026, while maintaining a 99.5% customer retention rate.
How the platform works
Tightening safety regulations across the UK, Europe, and North America are pushing fleet operators to accelerate hardware refresh cycles and adopt integrated compliance platforms.
CameraMatics combines AI video analytics, advanced driver assistance systems, and real-time operational data into a single platform for commercial fleet managers. A logistics operator running hundreds of heavy goods vehicles, for example, can receive an automated alert the moment a driver drifts out of lane, review the dashcam footage in real time, and generate a regulator-ready compliance report.
Enterprise wins over the past two years include Royal Mail, Calor Gas, Wolseley, XPO, and DFDS in Europe, as well as NASDAQ-listed Installed Building Products in the US.
The field is well-capitalised. Berg Insight ranked Streamax, Samsara, and Lytx as the three leading video telematics players globally. Samsara closed its most recent fiscal year with $1.9bn in annual recurring revenue, growing at 30% year on year. Lytx, the US-based driver safety specialist, focuses tightly on video coaching for North American fleets on a closed, proprietary platform.
In the US, CameraMatics has grown by partnering with NASDAQ-listed Installed Building Products, which operates more than 250 depots nationwide. This gives CameraMatics a foothold in the type of multi-site enterprise account that it aims to expand into.
The market opportunity
According to Berg Insight, the installed base of active video telematics systems in North America reached almost 7.6 million units in 2025 and is forecast to grow at 18% annually to reach 17.3 million units by 2030. In Europe, the installed base stood at over 2 million units in 2025 and is forecast to reach 4.3 million by 2030.
In both regions, new EU road safety rules and UK fleet governance requirements are making compliance stricter. As a result, video telematics is shifting from a nice-to-have to a must-have for operators in logistics, utilities, and infrastructure.
What comes next
The capital will fund enterprise sales expansion, customer success capabilities, AI and sustainability product development, and growth across North America and mainland Europe. Headcount is expected to grow beyond the current 150.
Now, CameraMatics must decide whether €49 million is enough to catch up with Samsara and Lytx in North America while maintaining its strong position in Europe. These two markets have very different buyers and competition.
The company has the customers, strong retention, and now the funding. The real challenge begins now.
