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Drivewyze secures growth capital investment from Kayne Partners

Kayne Partners the private equity group of Kayne Anderson Capital Advisors, has invested in Drivewyze to support the growth of its mobile-based weigh station bypass business for the trucking industry. 

Headquartered in Edmonton, Alberta, with offices in Burlingame, California, Drivewyze helps commercial trucking companies save time and money by allowing their trucks to bypass weigh stations based on the strength of their safety records. Founded in 2003 by transportation technology experts Brian Heath (Chief Executive Officer) and Fred Ko (VP of Operations), IIS is a privately held company that develops solutions to improve transportation safety and efficiency for governments, businesses and consumers.

Drivewyze offers advanced cloud-based software to the commercial trucking industry, including bypass services and a nation-wide fleet analytics service. Leveraging cellular networks, the internet and GPS, Drivewyze is able to provide weigh station bypass services at 411 sites in 30 states (and growing), via smartphones, tablets and specialised in-cab fleet telematics devices.

“We are pleased to have the support of Kayne Partners as we continue with our rapid pace of service expansion and record business growth,” says Brian Heath, president and CEO of IIS and Drivewyze. “In the last 18 months, Drivewyze has grown to become the nation’s largest weigh station bypass service provider, with the number of locations in the Drivewyze network having grown over 80 percent. Our Commercial Mobile Radio Service (CMRS) transponder technology is changing how trucking companies and state commercial vehicle inspectors view weigh station bypass. With our partners at PeopleNet, Rand McNally and Zonar offering Drivewyze on their in-cab devices, fleets are finding that Drivewyze can save them thousands of hours of lost driver productivity and significantly reduce their fuel costs.”

“Kayne Partners targets industries which are typically underserved from a technological perspective, and the commercial vehicle and trucking industries currently rely on outdated tracking and monitoring methods,” says Doyl Burkett, Partner, Kayne Partners. “The IIS and Drivewyze business segments utilize existing third-party platforms to increase operating inefficiencies in the trucking and fleet management markets. This closely aligns with Kayne Partners’ mandate to find companies using innovative processes in large, established industries.”

“Kayne Partners has a strong track record of identifying companies in high growth industries and backed by competent and strategic management teams, and we are excited about our partnership with the IIS and Drivewyze management team,” says Nishita Pawar, Managing Director, Kayne Partners.

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