DRIVE Software Solutions (DRIVE) has appointed Alastair Houston as chief executive officer and secured new funding as it gears up for the next phase of its expansion.
Hertfordshire-based DRIVE, a provider in the fleet management SaaS (software as a service) industry, has secured funding from Swiss investment firm VIVA Investment Partners (VIP), to accelerate its growth on a global basis in the emerging digital transportation space.
Alastair Houston, who brings more than 30 years’ experience in the automotive sector, most recently as managing director at Sandicliffe Motor Contracts, will oversee this next growth stage.
Before that he was at Northgate where he held a number of executive roles, including UK Business transformation director and managing director at multiple Northgate subsidiary businesses.
He has successfully executed profitable sales growth strategies and has extensive asset management experience.
DRIVE is the creator and supplier of the DRIVE fleet management and leasing software product - a single generic cloud-based solution, underpinned by Oracle - that supports vehicle management requirements worldwide, supplying leasing companies, fleet management providers and major fleets.
It is also the company behind ODO, the SaaS solution that allows leasing brokers and franchised dealers to manage the administration, service delivery and compliance of their customers’ vehicle assets through one secure, organised application.
Houston said: “The automotive sector is currently going through a period of unprecedented change, with ensuing fragmentation and confusion within the marketplace.
“The proactive delivery of these SaaS solutions through our ODO platform, coupled with cost optimisation, will enable the transformation of both businesses’ and consumers’ vehicle management from what is often a painful exercise today into a simple service usage experience.
“ODO is a brilliant and simple solution to unite fleet providers, services and end-users seamlessly. We have a unique product and are thrilled to now have the financial strength and global expertise that VIP brings to the business.
“We feel that the securing of this funding during these uncertain political times should be seen as an extremely positive move for the British economy.”
Martin Drake, co-founder and director of DRIVE, said that the new backers would enable the management team to take the business forward to the next stage of its development.
“With ODO, we believe that we have an excellent opportunity to bring order to a disrupted marketplace, while this new backing allows us to expand the scale of the business and our marketing support for it,” he said.
“With the global financial expertise of VIP and the sales, operations and industry expertise of our new CEO, we firmly believe we now have a clear cutting edge within the fleet and automotive sectors.”