Lightfoot, the Devon-based company behind the technology likened to a ‘Fitbit for cars’, is celebrating after a receiving £3.2 million in funding from BGF (the Business Growth Fund).
Meanwhile, Martin McCourt, former CEO of Dyson, has joined as an investor and a non-executive chairman.
This follows the company’s most successful year-to-date, during which time it has doubled its headcount and moved to new premises at Innovation Valley. It will use the investment to fuel further growth in the fleet sector and expand into the consumer market.
Lightfoot’s telematics device sits atop a car’s dashboard to deliver real-time feedback to the driver, as opposed to the traditional ‘black box’ systems, which focus on recording driver data.
Using a system of audio and visual prompts, company car drivers are encouraged to drive with more care, which benefits both the driver and the fleet operator. According to Lightfoot, its system can help to reduce fuel costs by up to 20 per cent, cut CO2 emissions by up to 20 per cent, and halve at-fault accidents.
For private motorists, the system is, quite literally, a rewarding experience. Drivers can check their performance via a smartphone app, with a rewards platform offering lower insurance premiums, access to prize draws and discounts at restaurants, gyms, high street stores and travel companies.
‘On a mission’
Mark Roberts, Lightfoot’s founder and CEO, said: “We’re on a mission to change the way people think about driving. And to make it fun again. We want everyone to enjoy the amazing benefits that smoother driving can have on their wallets and our planet.
“So far, we’ve created a community of Lightfoot drivers who are earning better deals for better driving – now, we’re excited to grow this with more like-minded motorists who believe good driving deserves rewarding.
— Lightfoot® (@Lightfoot_UK) November 21, 2018
“Our growth to date is a great testament to the hard work and commitment of the Lightfoot team. We believe that now is the right time to accelerate our expansion by bringing on board more people and increasing our engineering and sales capacity. We’re delighted to be embarking on this new stage with Martin and with the support and funding from BGF as our new minority partner.”
Lightfoot has 20,000 drivers to its name, with clients including Virgin Media, Dixons Carphone and Southern Water. Plans to expand the proposition globally are already underway.