Idelic, a Pittsburgh, PA-based data and analytics platform for improving safety in the transportation industry, raised $2m in funding.
The round was led by Bain Capital Ventures, with participation from TDF Ventures and SaaS Venture Capital and current investors Birchmere Ventures and M25 Group. In conjunction with the financing, Kevin Zhang of Bain Capital Ventures and Idelic Co-Founder Nick Bartel joined Idelic’s Board of Directors.
The company intends to use the funds to expand its machine learning and predictive analytics talent, grow its sales team, and augment the features, such as targeted performance improvement plans, of its flagship safety and risk management platform, the Idelic Safety Suite.
Led by CEO Hayden Cardiff, Idelic provides a software-as-a-service (SaaS) platform that leverages machine learning predictive analytics, comprehensive data management, and extensive third party integrations for safety managers to automate compliance, predict at-risk drivers, and prescribe action before accidents happen.
The company collaborated with Carnegie Mellon University’s Master of Science in Information Technology (MSIT) program to create algorithms that can predict which drivers are most at risk for accidents, incidents, injuries, violations, and citations.
Idelic was also selected alongside Peloton Technology and Brisk Synergies by Together For Safer Roads (TSR), an innovative coalition of global private sector companies collaborating to improve road safety, to be a member of their Global Entrepreneur Program.
TSR member companies include AB InBev, AIG, AT&T, General Motors, Ericsson, Pepsico, Republic Services, Lyft, UPS, and Walmart.
FinSMEs
10/11/2018