- Wise Systems – a leading AI-driven routing and dispatching platform provider – announced it has raised $50 million in Series C funding. These are the details.
Wise Systems – a leading AI-driven routing and dispatching platform provider – announced it has raised $50 million in Series C financing led by Tiger Global Management with participation from new and existing investors that include Section 32, Valo Ventures, Gradient Ventures, and Prologis Ventures.
Wise Systems’ real-time, automated system enables delivery and service operations with drivers worldwide across the last-mile industry. And the company will use the financing to further accelerate product development, market expansion across key geographies, and to address the increasing global demand for the company’s dispatching and routing solutions.
Known as a leader in AI technology for last-mile delivery operations, Wise Systems saw significant growth over the two past years, growing 300% year-over-year, experiencing increased demand for the company’s autonomous dispatch and routing technology across a number of markets. And today’s announcement comes on the heels of other significant developments for Wise Systems this year, including the availability of its platform in the SAP App Store and its launch in Japan. In July, Wise Systems announced a partnership with Mitsubishi Fuso Truck and Bus Corporation (MFTBC), under the umbrella of Daimler Trucks Asia (DTA), to offer the company’s AI-driven routing and dispatch software to MFTBC customers in Japan. This partnership extends Wise Systems’ reach to the commercial vehicle industry in Japan, one of the busiest last-mile markets in the world.
Wise Systems’ autonomous dispatch and routing automatically schedules routes, monitors routes in progress, and intelligently adjusts to day-of delays on the ground while utilizing machine learning to continuously improve fleet efficiency, performance, and service. Upon launching in 2014, Wise Systems formed around the promise of using data to transform how we move goods and services.
The customers using Wise Systems have seen significant fleet-wide efficiencies, including up to 15% fewer miles, an 80% reduction in late deliveries, and fleet utilization increases of 20%. And Wise Systems’ real-time automated system is powering delivery and service operations for a wide variety of multi-billion dollar global enterprises, including Anheuser-Busch and Lyft, and a number of other market leaders.
KEY QUOTES:
“The last-mile industry has undergone radical transformation over the last five years, driven by a combination of technology, customer appetite, and disruptive newcomers like Wise Systems. With this latest round of funding, we’re excited to invest further in our business and continue to push the boundaries of innovation and customer experience, embedding machine learning and AI in service of automation, efficiency and carbon reduction.”
— Chazz Sims, CEO and cofounder of Wise Systems
“The forces driving adoption of last-mile technology — including the need to address the growth of e-commerce, increasing customer demands, and driver satisfaction — are being compounded by the coming challenges of the electrification of fleets. Wise Systems is well positioned to meet those needs, and we are thrilled to continue to support their vision and team.”
— Mona ElNaggar, Partner at Valo Ventures, which led the Series B and also invested in the Series C
