StreetLight Data raises $15m to transform transportation analytics
StreetLight Data, a leader in Big Data analytics for mobility, today announced it has closed a Series D funding round of $15 million.
Macquarie Capital and Activate Capital joined existing investors Osage University Partners and Ajax Investment Strategies. The new round brings together world leaders in infrastructure investing and clean technology innovation with the leader in Big Data analytics for mobility, as North America’s transportation industry transitions into a new era of mobility, accelerated by the COVID-19 pandemic.
Even before the pandemic, transportation had experienced profound change, driven by population growth and congestion, changing commute patterns, and the rise of “new mobility” — placing new demands on transportation agencies already balancing budget pressures. COVID-19 has exacerbated these challenges, introducing a new level of travel volatility and forcing the industry to measure and manage more complex systems, with reduced resources and much of its staff working remotely.
StreetLight combines machine learning with deep transportation knowledge and vast computing and mobile data resources to provide near-instant insights for virtually every road and block in North America — allowing agencies to automate and scale data collection, modernize investment decisions and lever up their efficiency, while keeping people and goods moving.
“Just as eCommerce, web conferencing and telemedicine companies have enabled life to continue in a socially distanced world, so has StreetLight enabled critical transportation planning to weather the pandemic era,” said Laura Schewel, CEO and co-founder of StreetLight. “Governments, engineering firms and New Mobility companies need better information at a time of remote operations, increased transportation volatility and decreased budgets. The only way to do that is to replace expensive and highly manual transportation measurement approaches with on-demand metrics.”
“We are incredibly excited to partner with StreetLight as they continue through this rapid phase of growth,” said Paul Jordan, Vice President at Activate Capital, a venture firm focused on bringing digital technologies to scale across analog industries. “StreetLight brings the power of a Silicon Valley big data platform to scale for civic and commercial stakeholders, enabling them to build the connected, intelligent and sustainable transportation systems of the future.”
“What impressed us about StreetLight was its ability to innovate and build meaningful insights from a rapidly expanding base of data. We expect that those insights will have broad application and deliver significant value across multiple industries,” said Jared Doskow, Managing Director at Macquarie Capital Principal Finance. “Macquarie Capital is excited to partner with Streetlight and leverage our deep experience in the technology and infrastructure sectors to support StreetLight’s growth.”
