Edmonton's Drivewyze Lands $7.5 Million Series A Round

Posted by Rob Lewis

Edmonton-founded Intelligent Imaging Systems (IIS), and its sister company, Drivewyze, have announced a $7.5 million round of funding led by Emergence Capital Partners and iNovia Capital.

Today's announcement is iNovia's second syndicated deal with Emergence Capital. Toronto's Top Hat closed an $8 million Series A financing round led by the two firms one year ago.

Founded in 2003 in Edmonton, IIS is a leading road safety technology innovator. The company launched Drivewyze in 2012 as a standalone division to market a new 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 percent of the time, avoiding costly inspection delays. The ROI for using the service is one of the best in the trucking industry.

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.

Company:
iNovia Capital
Website:
http://www.inovia.vc
Location:
Montréal, Québec, Canada

iNovia partners with exceptional entrepreneurs to build successful companies in high-growth sectors. The team is comprised of entrepreneurs and sector experts focused on Mobile, Internet and Digital Media. iNovia has offices in Montreal, New York City and Calgary and invests across North America. iNovia has $275M under management across three seed and early-­stage funds. For more information, visit www.inovia.vc... more

Company:
Drivewyze
Website:
http://www.drivewyze.com
Location:
Edmonton, Alberta, Canada

Drivewyze Inc. is an innovative technology service provider to the transportation industry. Drivewyze is committed to improving road safety and efficiency for everyone. Privately owned and operated, Drivewyze Inc. is a subsidiary of Intelligent Imaging Systems Inc., a provider of industry leading road safety equipment and software services since 2003. Drivewyze partners with industry and government stakeholders to... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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