Wise Systems announced it has raised $50 million in Series C financing led by Tiger Global Management with participation from new and existing investors that include Section 32, Valo Ventures, Gradient Ventures, and Prologis Ventures.
Wise Systems’ real-time, automated system powers delivery and service operations with drivers worldwide across the last-mile industry. The company will use the financing to further accelerate product development, market expansion across key geographies, and address the increasing global demand for the company’s next-generation dispatching and routing solutions.
“The last-mile industry has undergone radical transformation over the last five years, driven by a combination of technology, customer appetite, and disruptive newcomers like Wise Systems,” said Chazz Sims, CEO and co-founder of Wise Systems. “With this latest round of funding, we’re excited to invest further in our business and continue to push the boundaries of innovation and customer experience, embedding machine learning and AI in service of automation, efficiency and carbon reduction.”
A leader in AI technology for last-mile delivery operations, Wise Systems saw significant growth over the two past years, growing 300% year-over-year, experiencing increased demand for the company’s autonomous dispatch and routing technology across a number of markets. Today’s announcement comes on the heels of other significant developments for Wise Systems this year, including the availability of its platform in the SAP App Store and its launch in Japan. In July, Wise Systems announced a partnership with Mitsubishi Fuso Truck and Bus Corporation (MFTBC), under the umbrella of Daimler Trucks Asia (DTA), to offer the company’s AI-driven routing and dispatch software to MFTBC customers in Japan. The partnership extends Wise Systems’ reach to the commercial vehicle industry in Japan, one of the busiest last-mile markets in the world.
