Cardata is a long‑standing, growth‑stage SaaS company specialising in tax‑compliant vehicle reimbursement programs for organisations whose employees drive their own cars for work. It positions itself as a fully managed partner rather than a standalone app, combining software, program design, and ongoing administration to help companies save around 30% on vehicle program costs while staying IRS/CRA compliant.
Cardata was founded in 1999 (originally as CarData Consultants) to design IRS‑compliant car‑allowance and reimbursement programs for North American businesses. Under more recent leadership by CEO Sheret Ross and President Michael Levine, the company has tripled annual recurring revenue over three years, growing more than 200% in aggregate and issuing over US$1B in reimbursements across more than 1B optimised miles.
In 2023 Cardata raised approximately US$100M (about C$100M) in growth capital led by Wavecrest Growth Partners with participation from MassMutual Ventures, following an earlier recapitalisation by Spruce Grove Capital in 2021. Public data sources estimate Cardata’s revenue in the mid‑tens of millions and employee count around 70–200, placing it firmly in the growth‑stage, privately held B2B SaaS category rather than an early‑stage startup.
Cardata’s core offering is a reimbursement platform built around GPS‑based mileage tracking (Cardata Mobile), an admin and analytics portal (Cardata Cloud), and support for IRS‑compliant FAVR, Tax‑Free Car Allowance (TFCA/463), and cents‑per‑mile programs. Key features include automatic trip capture and classification, configurable reimbursement policies and mileage bands, direct pay to drivers, insurance verification, MVR/driver‑safety monitoring, and compliance dashboards and reporting.
Recent innovations centre on analytics and AI. Cardata Intelligence is an AI‑powered analytics and reporting layer that provides custom dashboards, anomaly detection, and an LLM assistant (“Otto”) for natural‑language queries on reimbursement data. Ongoing platform updates enhance mobile tracking reliability, add new compliance and safety controls, and deepen benchmarking and industry‑specific reporting (for example, detailed reimbursement benchmarks for manufacturing and sector‑specific FAVR guidance)
Cardata’s stated mission is to simplify vehicle reimbursement, reduce administrative burden, and make programs fair and tax‑efficient for both employers and drivers. Marketing and customer‑review narratives emphasise expertise in IRS rules, commitment to customer satisfaction, and continuous product improvement, although some external employee‑review sites report mixed internal culture scores, suggesting a performance‑driven environment under rapid growth.
Cardata serves enterprises and mid‑market organisations across the U.S. and Canada, including manufacturing, distribution, field services, and other field‑heavy industries. Case studies cite millions in annual savings and millions of miles accurately reimbursed for industrial, parts distribution, and chemical companies, while over 400+ verified reviews on G2 and other platforms describe strong IRS‑compliance knowledge, helpful support, and meaningful cost reductions as key reasons for adoption.
Cardata
بواسطة Cardata
