CAMBRIDGE, Mass.--(BUSINESS WIRE)--Wise Systems, maker of autonomous dispatch and routing software for high-performance delivery fleets, has raised $7 million in Series A funding led by Gradient Ventures, Google’s AI-focused venture fund. The round, which brings total funding raised to date to $8.5 million, also includes participation from existing investors E14 Fund, Neoteny, Trucks Venture Capital and Fontinalis Partners.
In today’s economy, the logistics industry is scrambling to adapt to customers’ expectations that virtually any product or service is instantly available. While consumers now expect near-immediate, fully traceable and predictable delivery, fleets face numerous random and unpredictable issues like traffic congestion (which costs US drivers a more than $300 billion annually*), weather delays, blocked loading docks, and other factors that compromise their ability to meet performance and efficiency goals.
Wise Systems’ autonomous dispatch and routing software is transforming delivery operations by using machine learning to dramatically improve fleet efficiency and customer service. Wise uses real-time traffic, machine-learned service times, route-specific intelligence, and other data to improve on-time deliveries and reduce fleet mileage, while capturing direct recommendations from drivers.
“Autonomous dispatch and routing is the next-generation technology that logistics professionals need to meet the increasingly complex requirements of the rapidly evolving economy,” said Chazz Sims, CEO of Wise Systems. “Our technology positions fleets to meet today’s and tomorrow’s needs, reshaping delivery in the $10 trillion logistics and transportation industry. We’re delighted that Gradient Ventures has invested in Wise’s vision as we build the future of how goods and services are delivered.”
“With their applications of machine learning already delivering bottom-line savings and top-line expansion features to customers, we are excited to support Wise Systems’ continued growth,” said Anna Patterson, Managing Partner of Gradient Ventures. “Wise’s large customers are redefining their abilities and re-setting expectations of last mile delivery for the on-demand age.”
With this latest investment, Wise Systems plans to scale its operations to meet growing customer demand, accelerate research and development velocity around next-generation AI-powered delivery management technologies, and extend its market reach.
Founded in 2014 by a group of MIT and Harvard graduates, Wise Systems formed around the promise of using data to transform how we move goods and services in cities. Today, Wise Systems is powering transportation operations in over 50 locations and across thousands of drivers nationwide. Wise is optimizing delivery operations for a wide range of customers ranging from multi-billion dollar global enterprises, including Anheuser-Busch, to regional operations.
About Wise Systems
Trusted by the world’s largest brands, Wise Systems provides autonomous dispatch and routing software that helps our customers compete successfully in an increasingly dynamic world. Wise Systems’ autonomous dispatch and routing platform automatically schedules routes, monitors routes in progress, and intelligently adjusts to day-of delays on the ground, using machine learning to continuously improve fleet efficiency, performance, and service over time. For more information, visit www.wisesystems.com.
About Gradient Ventures
Gradient Ventures is Google's new AI-focused venture fund - investing in and connecting early stage startups with Google's resources, innovation, and technical leadership in artificial intelligence. The fund focuses on helping founders navigate the challenges in developing AI-based products, from leveraging training datasets to helping companies take advantage of the latest techniques, so that great ideas can come to life. Gradient was founded in 2017 and is based in Palo Alto, California. For more information, visit Gradient.com.
* Source: Inrix INRIX Global Traffic Scorecard, February, 2018