SageQuest, a provider of navigation services for fleets for trucks, said it has raised $3.7 million in a fourth round of funding.
The Beachwood, Ohio-based company said it will invest the money in product development and distribution. The round, which closed April 30th, was led by Hopewell Ventures, Gary Mintz and Mark Mintz.
SageQuest, founded in 2003, said it has has doubled in size each of the last four years. The company said it continued to grow faster than the overall industry in the first quarter. The company’s fleet-tracking and management solutions are aimed at improving the productivity of a mobile work force — that’s right, no napping on the job, truckers.