Idelic Raises $2 Million in Round Led by Bain Capital Ventures
Idelic, a Pittsburgh-based data and analytics platform for improving transportation industry safety, has closed a $2 million financing round, the company announced in a press release Nov. 9. The round was led by Bain Capital Ventures, with TDF Ventures and SaaS Venture Capital accompanying.
Kevin Zhang of Bain Capital Ventures and Idelic co-founder Nick Bartel joined the company’s board of directors in conjunction with the financing.
The Idelic Safety Suite is a software-as-a-service platform that integrates and analyzes third-party fleet systems with machine learning technology that identifies at-risk drivers to help fleets assign corrective action before accidents happen.
Idelic is a technology startup spun off by Pitt Ohio Transportation Group, regional freight carrier. Pitt Ohio ranks No. 46 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
In late September, the company reported it had received $1 million in seed financing from Birchmere Ventures, McCune Capital and M24 Group.
Idelic will use the current round of funding to expand its machine learning and predictive analytics talent, grow its sales team to meet national demand and augment features of its safety suite.
