Platform Science, a San Diego, CA-based provider of an edge application platform for transportation, raised $125M in growth funding.
Bakers included C.R. England, Cummins, Daimler Truck, PACCAR, RyderVentures, Schneider, Activant Capital, BDT & MSD Partners, Manhattan Venture Partners, 8VC, NewRoad Capital Partners, and Prologis Ventures.
The company intends to use the funds to accelerate innovation in the commercial transportation sector.
Led by CEO Jack Kennedy, Platform Science is a transportation technology company empowering enterprise fleets with a unified, user-friendly technology platform, which makes it easy to develop, deploy, and manage mobile devices and applications on commercial vehicles, giving fleets an edge in efficiency, flexibility, visibility, and productivity.
Platform Science’s Virtual Vehicle® can unlock all signals at the edge directly on the truck without any aftermarket hardware installation. It is being deployed by many of the world’s largest commercial trucking fleets, including C.R. England, Covenant, Schneider, and Werner Enterprises. Fleets are able to leverage a driver experience integrating an intuitive application ecosystem including solutions made by telematics providers, third-party developers, OEMs, shippers, and fleets themselves.
Developed in collaboration with Daimler Truck North America, Navistar, PACCAR, and other leading OEMs, the Virtual Vehicle has generated over a trillion data points across 6 billion miles logged and resulting in 15 billion API calls annually.
Commenting on the news, Jack Kennedy said: “This injection of capital enables us to accelerate our growth and capitalize on the opportunity we have to exponentially drive innovation in the commercial transportation sector. Our investors are strategically aligned with Platform Science and committed to helping us succeed. Their new and ongoing commitments are powerful testaments to our progress and opportunity.”
FinSMEs
10/04/2024