Wise Systems, a Cambridge, Massachusetts-based company that develops autonomous dispatch and routing software for delivery fleets, has raised $7 million in a Series A round of funding led by Gradient Ventures — which is an artificial intelligence focused company run by Google. Wise Systems has raised a total of $8.5 million in total funding thus far. E14 Fund, Neoteny, Trucks Venture Capital, and Fontinalis Partners also participated in this round.
Consumers are expecting near immediate, fully traceable, and predictable delivery, but the problem is that fleets face numerous unpredictable issues such as traffic congestion, weather delays, and blocked loading docks. Wise Systems’ autonomous dispatch and routing software are transforming delivery operations by using machine learning to drastically improve fleet efficiency and customer service.
Wise is able to analyze real-time traffic and route-specific intelligence through machine learning. And Wise also uses other data to improve on-time deliveries and reduce fleet mileage while capturing direct recommendations from drivers.
“Autonomous dispatch and routing is the next-generation technology that logistics professionals need to meet the increasingly complex requirements of the rapidly evolving economy,” said Wise Systems chief executive Chazz Sims. “Our technology positions fleets to meet today’s and tomorrow’s needs, reshaping delivery in the $10 trillion logistics and transportation industry. We’re delighted that Gradient Ventures has invested in Wise’s vision as we build the future of how goods and services are delivered.”
With this round of funding, Wise Systems is planning to scale its operations to meet growing customer demand and accelerate research and development velocity around next-generation artificial intelligence powered delivery management technologies. And the company is going to extend its market reach.
“With their applications of machine learning already delivering bottom-line savings and top-line expansion features to customers, we are excited to support Wise Systems’ continued growth,” added Gradient Ventures managing partner Anna Patterson. “Wise’s large customers are redefining their abilities and re-setting expectations of last mile delivery for the on-demand age.”
Wise Systems was founded in 2014 by MIT and Harvard graduates. Now Wise Systems is powering transportation operations in more than 50 locations and across thousands of drivers nationwide. And Wise optimizes delivery operations for a wide range of customers ranging from multi-billion dollar enterprises such as Anheuser-Busch to regional operations.
