Inrix, Inc., a provider of transportation analytics and connected car services, has announced the successful completion of a $70 million financing round from investment funds managed by Morgan Stanley Expansion Capital and Morgan Stanley Tactical Value. The funding will be utilized to fuel the company's strategic growth initiatives and refinance debt.
Why it matters
Founded in 2004, Inrix specialises in providing intelligent mobility solutions by transforming big data from connected devices and vehicles into mobility insights. In essence, it specializes in data and analytics of how people move, with an emphasis on urban mobility. The end-goal is to create safer, more efficient and more sustainable transportation systems.
With partners and solutions spanning across the entire mobility ecosystem, Inrix says it is uniquely positioned to help make mobility more intelligent. Applications for its data-based solutions include planning future roads, reducing emissions by improving traffic signal timing, developing a safety action plan, or optimizing last-mile delivery.
With this latest financing, Inrix is well-positioned to drive innovation, expand its customer base, and further solidify its position as a global leader in the connected car and traffic intelligence market.
The funding will be utilized to fuel the company's strategic growth initiatives, refinance debt, and further strengthen its position as a key player in the evolving intelligent mobility industry.
Pete Kelly, GlobalData analyst, said: “The emerging ecosystem for smarter and intelligent mobility is going to be led by big data from connected devices, including vehicles. Using that data effectively will be a vital component in getting the outcomes that all stakeholders in intelligent transportation want to see. Inrix and other data-led specialists will play a vital role – something that Morgan Stanley’s investment fund managers clearly recognise.”
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