INRIX, a trailblazing provider of transportation analytics and connected car services, has successfully concluded a monumental $70 million financing round, backed by investment funds under the aegis of Morgan Stanley Expansion Capital and Morgan Stanley Tactical Value, collectively known as “Morgan Stanley Investment Management.” This infusion of funds is poised to propel INRIX’s strategic growth initiatives, facilitate debt refinancing, and reinforce its pivotal role within the realm of intelligent mobility.
With an illustrious history spanning two decades, INRIX has etched its name as a cornerstone in shaping the future of transportation, enabling cities and businesses to harness the power of location-based insights. Pioneering the convergence of cutting-edge artificial intelligence and machine learning, INRIX offers a comprehensive suite of solutions that deliver precise and actionable insights, ushering the world into a future of smarter, greener, and safer mobility.
Bryan Mistele, CEO of INRIX, expressed his enthusiasm about the partnership with Morgan Stanley Investment Management, stating, “We are thrilled to partner with Morgan Stanley Investment Management as INRIX continues to transform the way people and goods move around the world. This financing round shows their confidence in our vision and ability to drive significant growth in the industry.”
Nick Nocito, Executive Director of Morgan Stanley Expansion Capital, affirmed the transformative influence of INRIX within the transportation sector. “We recognize the transformative impact INRIX has on the transportation industry and are excited to partner with INRIX and support their mission of creating safer, more efficient transportation systems. INRIX’s dedication to innovation and commitment to excellence is well-known in the industry, and we look forward to the future growth and success of the company.”
Kevin Lin, Executive Director of Morgan Stanley Tactical Value, echoed the sentiment, emphasizing INRIX’s role in delivering mission-critical insights to both private-sector and public-sector clients. “Best-in-class organizations in the transportation sector are a focus area for Morgan Stanley Tactical Value, and we are excited to partner with INRIX as they aim to deliver on their mission of driving intelligence in transportation.”
With a diverse portfolio of partners and solutions spanning the entire mobility spectrum, INRIX stands uniquely poised to infuse intelligence into mobility initiatives – be it in future roadway planning, emission reduction through enhanced traffic signal timing, safety action planning, or optimizing last-mile delivery.
With the infusion of this substantial funding, INRIX is primed to fuel innovation, expand its client base, and cement its stature as a global leader in the connected car and traffic intelligence domain.