Online Transportation Company Drivewyze Raises $7.5 Million
Drivewyze is a website that helps trucking companies save time by helping avoid weigh stations through the use of a mobile app. The company has raised $7.5 million in a round of funding led by Emergence Capital Partners and iNovia Capital. Drivewyze will be using the funding for sales and marketing.
The Drivewyze mobile application alerts trucks when they are about two miles away from an inspection site, according to TechCrunch. The app currently works in 16 states. They are hoping to be available nationally by 2014.
Drivewyze spun out of a Canadian company called Intelligent Imaging System. Intelligent launched Drivewyze as a standalone company last year and signed up several truck fleets.
As trucks get around one mile from an inspection site that is enabled by Drivewyze, the app will let the driver know whether to bypass them or report in for an inspection.
So how does Drivewyze make money?
The company charges $7.99 per month for a single state and $12.99 for multi-state plans.