US-based transportation tech startup Idelic has raised $8m in a Series A funding round led by venture capital firm Origin Ventures.

The company will use the money to expand its engineering and sales teams.

The proceeds will also go towards a mobile application, which focuses on driver engagement and retention.

The funding round was also joined by Birchmere Ventures, SaaS Venture Capital, TDF Ventures and Bain Capital Ventures.

As part of the agreement, Matt Bressler of TDF Ventures and Scott Stern of Origin Ventures are now part of Idelic’s board of directors.

The company stated that the transportation industry spends around $10bn on safety products and services each year to deal with the rising accident costs, which amount to around $120bn yearly.

The company’s Safety Suite is a safety and risk management platform for transportation.

The software solution inputs all fleet systems into a single data management platform, which offers fleet managers visibility into its driver’s behaviour, as well as its safety operations.

Idelic CEO Hayden Cardiff said: “We have a dedicated team of data scientists hyper-focused on improving the Safety Suite’s artificial intelligence, machine learning, and predictive analytics models that help safety teams be proactive in preventing accidents, violations, citations and injuries and we’re actively hiring to contribute to these efforts.

“The world is changing and we’re designing our technology to change with it. Imagining a world without accidents isn’t so implausible anymore and we want to lead the charge to create that safer tomorrow.”