MINNEAPOLIS, MN — XATA Corporation, a company that optimizes fleet operations for the commercial trucking industry, has received an additional $6 million investment by Trident Capital through a private placement of shares of its newly created convertible Series D Preferred Stock and warrants to purchase XATA Common Stock.

The funding will be used by XATA to extend its product portfolio for its current markets as well as market segments such as for-hire fleets, mid-size fleets, and fleets with Class 3-5 vehicles. The company will use the proceeds to launch its professional services offerings including fleet operations consultation, enterprise integration, and project management.

Further use of funds will help grow XATA’s sales and distribution model by enhancing its direct sales and growing its distribution partnerships to increase market penetration.

Originally posted on Fleet Financials

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