JSM Financial: Start-up GreenRoad receives funding from Sir Richard Branson and Al Gore.

March 3, 2010 - PRLog -- JSM Financial sources have confirmed that an investment firm co-founded by ex-U.S. Vice President Al Gore has recently invested $10 million into Redwood City, California based start-up firm, GreenRoad Technologies.

The firm which uses computers and online reporting tools that enable commercial fleets, insurers and consumers to measure, improve and sustain safe and fuel-efficient driving behavior has already received investment from Sir Richard Branson’s Virgin Green Fund in 2008. Branson is active in the firms operations but has not personally taken a seat on the board.

Al Gore’s Generation Investment Management in April of 2008 closed the $638 million Climate Solutions Fund which focuses on funding companies in alternative-energy and efficiency spaces and which has now become the latest investor in GreenRoad.

JSM Financial understands that it is unclear at this stage if Gore is to become personally involved in the company’s decision making, nor if the 2007 Nobel Prize winner would join the board.

GreenRoad has now raised $42.5 million from venture capitalists since its launch in 2002.JSM Financial believes that other investors include Amadeus Capital, Balderton Capital and DAG Ventures.

According to a recent industry report there are over 3 million cars and trucks in service in corporate, government and rental fleets in the U.S. GreenRoad has reported that it had secured AAA and T-Mobile as customers for its corporate fleet system, together with around 80 other corporate clients.

# # #

JSM Financial is an independent broker focused on the realization of superior returns from seed stage and early-stage equity investment and active partnerships with exceptional entrepreneurs building market-leading technology companies.