Drivewyze announced that private equity group Kanye Partners has invested in the company and its sister company Intelligent Imaging Systems to support the growth of its weigh station bypass service.
Kanye Partners is part of the Kanye Anderson Capital Advisors L.P., which is an approximately $29 billion alternative investment firm. Kanye Partners targets industries which it says are underserved from a technological perspective, such as the commercial vehicle and trucking industries, according to the company.
“The commercial vehicle and trucking industries currently rely on outdated tracking and monitoring methods,” said Doyl Burkett, partner and Kanye Partners. “The IIS and Drivewyze business segments utilize existing third-party platforms to increase operating inefficiencies in the trucking and fleet management markets.”
Drivewyze offers a mobile-based weigh station bypass service that allows trucks to bypass weigh stations based on the strength of their safety records. The company offers other cloud-based software to the trucking industry including its fleet analytics service. It provides its services to 411 sites in 30 states through smartphones, tablets and specialized in-cab fleet telematics devices.
“We are pleased to have the support of Kanye Partners as we continue with our rapid pace of service expansion and record business growth,” said Brian Heath, president and CEO of Drivewyze.