Ten years ago, Diego Borrego had a vision. That vision resulted in a Massachusetts Institute of Technology 50K Entrepreneurship Competition award. But that was just the beginning.
Borrego took his idea and designed Networkfleet to read diagnostic codes from all vehicle classes and types and connect with in-vehicle communications systems. Today, Networkfleet is celebrating its 10th anniversary with more than 100,000 subscriber vehicles operating in the U.S., according to the company.
“Networkfleet is proud of its ten year history of growth and innovation,” said Keith Schneider, president of Networkfleet. “Customers are increasingly looking at a supplier’s stability and longevity, which has contributed to Networkfleet’s rapid subscriber growth. In addition, Networkfleet’s remote engine diagnostic capability has become essential to reducing fuel consumption and maintenance expenses. This together with our partnerships with world-class leasing companies, resellers and software companies has helped us to become one of the industry’s leading telematics providers.”
Borrego is now the vp of product engineering, but it was his early design of a wireless engine monitoring system that helped propel the company to a full suite of web-based software solutions. Networkfleet is now a part of Hughes Telematics, having been purchased in 2006.
“Ten years is an impressive milestone in the fragmented telematics market. Over that period of time, Networkfleet has emerged as one of the leading U.S. suppliers of telematics solutions for the fleet market,” said Clem Driscoll, president of C.J. Driscoll & Associates, a consulting and market research firm specializing in wireless location-based products and services.