Torben Robertson
By Torben Robertson, Content Marketing Manager, Cardata
Feb 28, 2024
The Problem: Driving for Work Shouldn’t be Complicated
Every day, millions of Americans drive for work, doing everything from meeting clients at the Port of Houston to fixing lifesaving medical devices at hospitals in the Northeast. But how do you organize these field operations for teams who drive for work? Do you lease a fleet of company cars or empower employees to use their personal vehicles? Managing a vehicle program for your field team can be a costly and inefficient task. Old and outdated modes of getting field teams on the road can waste company time, tax, and spend.
Over the last twenty-five years, Cardata has been finding ways of solving the problems posed by programs like fleet, IRS standard rate, and taxable allowance, working with some of the world’s best companies as their vehicle reimbursement partner in decade-long relationships. Thanks to our partners and our hard work, companies can have a fully managed vehicle reimbursement partner at their disposal, bringing a new level of excellence to this crucial — and often overlooked — aspect of operations.
A Fully-Managed Vehicle Partner
But what exactly does it mean to be a ‘fully-managed vehicle reimbursement partner?’ In practical terms, it translates to providing companies with a solution to avoid tax waste, streamline messy mileage logs, and ensure compliance with IRS tax regulations. This is a game-changer for businesses looking to optimize their vehicle programs and reduce administrative burdens. At Cardata, our mission is clear: to be the go-to partner for building the best vehicle programs that all users love. We envision a future where vehicle operations for businesses are simple and hassle-free. As industry experts in technological solutions for companies with employees on the road, we’re dedicated to helping businesses achieve this vision.
Cardata’s Values
Our values are the foundation of everything we do. We’re relentless in our pursuit of customer success, always striving to deliver exceptional service. For our customers, this means dedicated account management and customer service from reps in North America, plus service level agreements that respect what each customer wants out of their program. Commitments matter to us, and we rely on each other as a team to deliver on our promises. Cardatians often spend many years working here, so our customers have a team of experts on the other end of the line, who’ve been through it with them and know their programs.
Cardata’s Twenty-Five-Year Drive
Cardata’s journey began in 1999 when it was founded by ex-fleet executives who recognized the need for a better way to reimburse mileage and manage vehicle programs. Since then, our team has grown across North America, expanding from Toronto to Phoenix and Boston.
In 2018, we launched our GPS Tracking App V.1, providing drivers with a comprehensive reimbursement companion on the road. Over the years, that product has grown into our flagship mileage capture application, Cardata Mobile. Cardata Mobile is just one of our products and services, but it is an integral part of our Design–Capture–Pay philosophy, wherein we design our customer’s vehicle program, capture their mileage with Cardata Mobile, then issue each driver’s reimbursement payment with Direct Pay.
In 2021, Cardata embarked on a bold new direction with a recapitalization by Spruce Grove Capital, setting the stage for accelerated growth and innovation. That’s when our CEO, Sheret Ross, and our President, Michael Levine, took over operations. Since Sheret and Mike joined Cardata, the company has never been the same, seeing massive organic growth and bringing on major new clients like Arrow Electronics while deepening relationships with existing customers like Herr’s.
Sheret Ross – Michael Levine
A $100M Investment Round
The momentum continued in 2023 with a significant investment from Wavecrest Growth Partners and MassMutual Ventures, who injected $100M to enhance our offerings further and expand our reach. This funding signaled immense confidence in Cardata’s organic growth and in our direction and has allowed Cardata to envision bold strategies to continue delivering the best products and services to our customers.
Mike Levine discussed what this new funding means for the future of our product and our people in a recent interview: $100M Funding and the Future of Cardata
The Future is Bright, Lit by our Headlights
As we look to the future, we invite businesses to join us on this journey to build the best reimbursement programs for field teams. We’re building some of the most ambitious products and services in the space while never compromising on our industry-leading customer service promises. With Cardata as your fully-managed vehicle reimbursement partner, you can confidently navigate the complexities of vehicle reimbursement, knowing that you have a trusted ally in the passenger seat.
