PITTSBURGH – (COMMERCIAL THREAD) –Idélic, Inc., a Pittsburgh-based leader in commercial trucking analysis and driver management solutions, announced the completion of its Series B fundraiser, a $ 20 million fundraiser led by Highland Capital Partners with the participation of AXA Venture Partners. Other participants in the cycle included previous investors Birchmere Ventures, Origin Ventures, TDF Ventures and SaaS Venture Capital. Along with the financing, Craig Driscoll of Highland Capital Partners will join Idelic’s board of directors.
Idelic makes trucking safer and more efficient by preventing accidents, reducing driver turnover, reducing insurance costs and most importantly, saving lives. Their flagship product, Safety Suite®, is the transportation industry’s most comprehensive driver management platform, integrating data from multiple technology sources into a single recording system that improves workflows and provides analytics. unprecedented fleet. Safety Suite uses machine learning to turn fleet data into truly predictive information that enables fleets to effectively manage all of their safety operations and identify drivers at risk before an accident occurs.
Idelic was founded by co-founders Hayden Cardiff, Nick Bartel and Andrew Russell, all graduates of Carnegie Mellon University. “We created Safety Suite to enable fleets of all sizes to proactively unlock and use their data to make their drivers and our roads safer for everyone,” said Nick Bartel, Co-CEO of Idelic . “With insurance costs and driver turnover skyrocketing in recent years, our mission is to help fleets overcome these challenges and create a culture of safety that is not only appreciated by their drivers. , but also by their insurers. Increasing our Series B will allow us to reinvent the way the transport industry underwrites driver risk and values the fleets they insure, ”added co-CEO Hayden Cardiff.
“Together, we can revolutionize the way truck fleets and their insurance companies think about the risks they face every day,” said Craig Driscoll, general partner at Highland Capital Partners. “This is a huge goal that has huge implications for the transportation industry and society in general. Their mission is exactly what we are looking for in companies, and I am delighted to join the team.”
With this funding, Idelic plans to strengthen its engineering and data science teams in order to continue to produce innovative and best-in-class features for Safety Suite and to create additional offerings with insurance partners. Sales and marketing operations will also expand to reach new fleet segments that will benefit from the full spectrum of driver management and operational analysis provided by Safety Suite.
Idelic helps transport fleets save time, money and lives. Idelic Safety Suite® is the transportation industry’s most comprehensive driver management platform, consolidating all fleet data systems into a single data management platform, giving fleets unparalleled visibility into operator behavior. their drivers and security operations. With an industry-leading driver watchlist that utilizes advanced and proprietary machine learning (ML) technology, Idelic Safety Suite helps fleets prevent accidents, lower turnover and lower insurance costs. .
About Highland Capital Partners
Founded in 1988, Highland Capital Partners is a global entrepreneur-focused venture capital firm. With offices in Menlo Park, Cambridge and Shanghai, Highland has raised more than $ 3 billion in committed capital and invested in more than 225 companies, resulting in category-defining companies in consumer and enterprise technology. Investments include Aereo, Ask Jeeves, Bromium, Gigamon, Leap Motion, Lululemon, LevelUp, Lycos, MapQuest, Nebula, Qihoo 360, Quattro Wireless, Rent the Runway, Starent Networks, Sybase, VistaPrint and WePay. For more information visit www.hcp.com.
About AXA Venture Partners
AXA Venture Partners (AVP) is a global venture capital firm that invests in high growth technology companies. AVP has built, in less than five years, a unique investment platform specializing in technology investments with $ 800 million in assets under management through three pillars of investment expertise: early stage, growth stage and fund. funds. To date, AVP has invested in over 45 companies and over 15 funds. The AVP team operates worldwide with offices in San Francisco, New York, London, Paris and Hong Kong. Beyond investments, AVP offers unique access to business development opportunities helping portfolio companies to expand globally and accelerate their growth. www.axavp.com