KIRKLAND, Wash., Aug. 8, 2023 /PRNewswire/ — INRIX, Inc., a leading provider of transportation analytics and connected car services, today announced the successful completion of a $70 million financing round from investment funds managed by Morgan Stanley Expansion Capital and Morgan Stanley Tactical Value (together, “Morgan Stanley Investment Management”). The funding will be utilized to fuel the company’s strategic growth initiatives, refinance debt, and further strengthen its position as a key player in the intelligent mobility industry.
For nearly 20 years, INRIX has played a foundational role in shaping the future of transportation by helping cities and businesses take advantage of location-based insights. By leveraging cutting-edge artificial intelligence and machine learning technologies, INRIX has a comprehensive suite of solutions that provides accurate and actionable insights to help make the world move smarter, greener and safer.
“We are thrilled to partner with Morgan Stanley Investment Management as INRIX continues to transform the way people and goods move around the world,” said Bryan Mistele, CEO of INRIX. “This financing round shows their confidence in our vision and ability to drive significant growth in the industry.”
Nick Nocito, Executive Director of Morgan Stanley Expansion Capital, commented, “We recognize the transformative impact INRIX has on the transportation industry and are excited to partner with INRIX and support their mission of creating safer, more efficient transportation systems. INRIX’s dedication to innovation and commitment to excellence is well-known in the industry, and we look forward to the future growth and success of the company.”
Kevin Lin, Executive Director of Morgan Stanley Tactical Value, commented, “INRIX provides mission-critical insights to both private-sector and public-sector clients. Best-in-class organizations in the transportation sector are a focus area for Morgan Stanley Tactical Value, and we are excited to partner with INRIX as they aim to deliver on their mission of driving intelligence in transportation.”
With partners and solutions spanning across the entire mobility ecosystem, INRIX is uniquely positioned to help make mobility intelligent – whether it’s planning a future roadway, reducing emissions by improving traffic signal timing, developing a safety action plan, or optimizing last-mile delivery.
With this latest financing, INRIX is well-positioned to drive innovation, expand its customer base, and further solidify its position as a global leader in the connected car and traffic intelligence market.
About INRIXFounded in 2004, INRIX pioneered intelligent mobility solutions by transforming big data from connected devices and vehicles into mobility insights. This revolutionary approach enabled INRIX to become one of the leading providers of data and analytics into how people move. By empowering cities, businesses, and people with valuable insights, INRIX is helping to make the world smarter, safer, and greener. With partners and solutions spanning across the entire mobility ecosystem, INRIX is uniquely positioned at the intersection of technology and transportation – whether its keeping road users safe, improving traffic signal timing to reduce delay and greenhouse gasses, optimizing last-mile delivery, or helping uncover market insights. Learn more at INRIX.com.
About Morgan Stanley Expansion CapitalMorgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.
About Morgan Stanley Tactical ValueMorgan Stanley Tactical Value is the flexible, non-control private equity and credit investment platform within Morgan Stanley Investment Management. With a broad mandate to invest across asset classes, sectors and geographies, Morgan Stanley Tactical Value is able to tailor bespoke solutions for companies to meet their unique strategic and financial objectives. The team’s expertise, including deep structuring experience, is complemented by Morgan Stanley’s extensive network and global capabilities to drive differentiated capital solutions for companies, founders, sponsors, and stakeholders. For more information, please visit www.morganstanley.com/im/tacticalvalue.
SOURCE INRIX
