Drivewyze, a subsidiary of Edmonton-based Intelligent Imaging Systems (ISS), a transportation technology company, announced a $7.5 million round of series A funding today led by iNovia Capital and Emergence Capital Partners.
Launched in 2012 as a standalone division of IIS, Drivewyze will use the funding to help develop and expand its new mobile-based weigh station bypass system for commercial truck operators. The Drivewyze PreClear application allows fleets with a good safety record to bypass weigh stations up to 98 per cent of the time, saving them time and money. The company claims it is the best ROI in the trucking industry.
“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, in a press release. “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.”
With 223 inspection sites already using Drivewyze PrecClear across 16 states, the company hopes the series A funding will help the company reach its goal of full national coverage by 2014. Drivewyze is currently available on Android, iOS, and Blackberry devices.
“Drivewyze is a perfect example of our investment thesis at work,” said Shawn Abbott, a partner with Montreal-based iNovia Capital, in a press release. “That large existing industries — in this case transportation — can derive radical benefit from new services leveraging the now ubiquitous mobile Internet.”
