Emergence Capital Partners and iNovia Capital have pumped $7.5 million in funding into Drivewyze and its sister company, Intelligent Imaging Systems (IIS). The Series A funding will be used for sales and marketing expansion of the Drivewyze PreClear wireless weigh station bypass service, as well as new product development, Drivewyze said.
Founded in 2003 in Edmonton, Alberta, IIS is a road safety technology innovator. The company launched Drivewyze in 2012 as a standalone division to market a mobile-based weigh station bypass system for commercial truck operators. Fleets with good safety scores can use Drivewyze PreClear to “bypass” weigh stations up to 98% of the time, avoiding costly inspection delays, the company said.
“By leveraging our Commercial Mobile Radio Service (CMRS) transponder technology, we have created a game changer for the trucking industry," said Brian Heath, president and CEO of IIS and Drivewyze. "Fleets can access more sites and higher ROI services without the limitations of traditional roadside hardware. All you need is a web and GPS-enabled device in the cab. Our integration partnerships with the industry’s top in-vehicle fleet technology providers, PeopleNet, XRS and Zonar, will give fleets instant opt-in access to our service.”
Drivewyze PreClear is available at 223 locations across 16 states. The company said the Series A funding will help it achieve its goal of full national coverage in 2014.
“At Emergence Capital, we have seen mobile technology allow workers in many large industries to take advantage of the cloud," said Emergence Capital partner Brian Jacobs. "IIS and Drivewyze are using the cloud to redefine road safety and driver productivity. It is clear that states are embracing Drivewyze PreClear and fleets are seeing a significant financial return.”
