About Drivewyze
Drivewyze is a company based in Edmonton (Canada) founded in 2011 was acquired by Bestpass in August 2024.. Drivewyze has raised $67.5 million across 3 funding rounds from investors including Bestpass, Kayne Anderson Capital Advisors and Emergence Capital. Drivewyze offers products and services including PreClear, Safety+, Drivewyze Free, and e-Inspection. Drivewyze operates in a competitive market with competitors including Bikeep, PrePass, BikeFinder, Berla and Exeros Technologies, among others.
- Headquarter Edmonton, Canada
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Sectors
Industrial Goods & ManufacturingTransportation, Automotive & Logistics
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Email
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Phone
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Website
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Social
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- Legal Name Drivewyze Inc.
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Products & Services of Drivewyze
Drivewyze offers a comprehensive portfolio of products and services, including PreClear, Safety+, Drivewyze Free, and e-Inspection. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Service for bypassing weigh stations to save fuel and time.
Premium alerts and coaching to reduce fleet risks and violations.
Free real-time alerts for hazards on trucking routes.
Expedited inspections at weigh stations for efficiency.
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Funding Insights of Drivewyze
Drivewyze has successfully raised a total of $67.5M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $60 million completed in July 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $60.0M
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First Round
First Round
(23 Aug 2013)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2020 | Amount | Series B - Drivewyze | Valuation | Sageview Capital |
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| Jan, 2015 | Amount | Series A - Drivewyze | Valuation |
investors |
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| Aug, 2013 | Amount | Series A - Drivewyze | Valuation | Emergence Capital , Inovia Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Drivewyze
Drivewyze has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include Bestpass, Kayne Anderson Capital Advisors and Emergence Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Tech focused Early and growth stage VC firm investing in the US
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Investments are made in early-stage technology companies by Inovia Capital.
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Private equity investments are pursued in Europe and the US.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Drivewyze
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Drivewyze
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Drivewyze Comparisons
Competitors of Drivewyze
Drivewyze operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Bikeep, PrePass, BikeFinder, Berla and Exeros Technologies, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Smart parking and storage systems for bicycles are provided.
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Provides weigh station bypass, toll management, and efficiency tools for trucking fleets.
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GPS tracking solutions for fleet owners are delivered through SaaS.
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Provides software and hardware for extracting and analyzing data from vehicle systems.
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| domain | founded_year | HQ Location |
Provides vehicle CCTV, telematics, and driver assistance for fleet safety and monitoring.
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Drivewyze
Frequently Asked Questions about Drivewyze
When was Drivewyze founded?
Drivewyze was founded in 2011 and raised its 1st funding round 2 years after it was founded.
Where is Drivewyze located?
Drivewyze is headquartered in Edmonton, Canada. It is registered at Edmonton, Alberta, Canada.
Is Drivewyze a funded company?
Drivewyze is a funded company, having raised a total of $67.5M across 3 funding rounds to date. The company's 1st funding round was a Series A of $7.5M, raised on Aug 23, 2013.
What does Drivewyze do?
Drivewyze was founded in 2011 in Edmonton, Canada, as a provider of software solutions in the trucking sector. Weigh station alerts and bypass systems are delivered through mobile apps, featuring voice and visual notifications for upcoming inspection sites and weighbridges. These tools enable route avoidance, reducing costs for transportation firms. Operations include a subsidiary focused on intelligent imaging systems, with services accessible via drivewyze.com.
Who are the top competitors of Drivewyze?
Drivewyze's top competitors include BikeFinder, Bikeep and PrePass.
What products or services does Drivewyze offer?
Drivewyze offers PreClear, Safety+, Drivewyze Free, and e-Inspection.
Who are Drivewyze's investors?
Drivewyze has 5 investors. Key investors include Bestpass, Kayne Anderson Capital Advisors, Emergence Capital, Inovia Capital, and Sageview Capital.
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