# Waycare Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/waycare-technologies

- Industry: Software
- Headquarters: Los Angeles, US
- Website: www.waycaretech.com
- Total disclosed funding: $9.6M
- Latest round: Series A (Oct 3, 2019)
- Investors on record: 9

## About

Waycare Technologies Ltd. is a company specializing in advanced data analytics and AI solutions focused on enhancing transportation and traffic management systems, thereby optimizing urban mobility and roadway safety.Founded in 2016 in Los Angeles, US, Waycare Technologies Ltd. provides innovative traffic management solutions. The company has secured multiple funding rounds, with the most recent being a TRADE SALE in August 2021, where Rekor Systems, Inc. acquired Waycare for USD 61.00 mn. Under the leadership of CEO Noam Maital, Waycare has executed a total of 4 deals, demonstrating its strategic positioning within the traffic analytics sector.Waycare Technologies specializes in advanced data analytics and artificial intelligence solutions designed for the transportation and traffic management sectors. Their core offerings include a traffic management platform that leverages real-time data from various sources, such as traffic cameras and sensors, to provide actionable insights aimed at improving roadway safety and efficiency. The platform addresses critical use cases such as accident prevention, congestion mitigation, and resource allocation for emergency services, thereby enhancing overall urban mobility. Waycare's customer base primarily consists of city municipalities and transportation agencies in North America, Europe, and select regions in Asia-Pacific, where they have successfully implemented their technology to optimize traffic flow and reduce response times for incidents on the roads.Waycare Technologies generates revenue through a subscription-based model, wherein clients pay for access to their comprehensive traffic management platform. The transaction structure is primarily B2B, with municipalities and transportation agencies entering into multi-year contracts to utilize the software and data services provided. Pricing plans are tailored to the specific needs of the client, often based on the scale of deployment and the range of features selected, including premium analytics and additional support services. Flagship offerings include their proprietary predictive analytics tools, which allow clients to anticipate traffic patterns and incidents. This structured approach to revenue ensures a consistent income stream while fostering long-term partnerships with urban transportation stakeholders.Waycare Technologies is focused on enhancing its product offerings and expanding into new markets. The company plans to design and launch new features for its traffic management platform, aiming for a release in 2023. Additionally, Waycare is targeting expansion into new geographic regions, including South America and the Middle East, with strategies set to implement these expansions by 2024. The recent acquisition in August 2021 by Rekor Systems, Inc. for USD 61.00 mn is expected to provide the necessary capital to support these growth initiatives.

## Funding rounds

- Series A, Oct 3, 2019, $7.3M — SJF Ventures, Innogy, UpWest, Spider Capital, Goldbell Group, Janom, Zymestic Solutions, s.r.o., Next Gear Ventures
- Seed, Oct 30, 2017, $2.3M — UpWest, SeedInvest, LLC, Spider Capital, Innogy, Goldbell Group, Janom, Zymestic Solutions, s.r.o.

## Investors

- UpWest (https://capitalatlas.ai/funds/upwest) — Seed, Series A
- SeedInvest, LLC — Seed
- Spider Capital (https://capitalatlas.ai/funds/spider-capital) — Seed, Series A
- Innogy — Seed, Series A
- Goldbell Group — Seed, Series A
- Janom (https://capitalatlas.ai/funds/janom) — Seed, Series A
- Zymestic Solutions, s.r.o. — Seed, Series A
- SJF Ventures (https://capitalatlas.ai/funds/sjf-ventures) — Series A
- Next Gear Ventures (https://capitalatlas.ai/funds/next-gear-ventures) — Series A