Platform Science Raises $115 Million Series C Led by SoftBank Vision Fund 2

SAN DIEGO, Feb. 3, 2022 /PRNewswire/ -- Platform Science, a leading connected vehicle platform, today announced $115 million in Series C funding. The round was led by SoftBank Vision Fund 2 and included participation from Chimera, as well as existing investors 8VC, Daimler, Prologis, NextPlay, and Four More Capital. The new capital will be used to expand the reach of the company's innovative transportation solutions and make it easier for fleets to develop, deploy, and manage mobile devices and applications on commercial vehicles. 

"There is an urgent demand for new and innovative ways to increase visibility and efficiencies in the supply chain and improve driver experience, and this investment from our new and existing partners is going to power us to fill that need," said Jack Kennedy, co-founder & CEO of Platform Science. "Our platform breaks down the barriers that have historically created friction in the supply chain and provides developers with a connected channel to distribute their innovative solutions at scale."

"Logistics is the backbone of the global economy but the majority of its vehicle fleets are still powered by legacy software that is highly fragmented," said David Boriss, Director at SoftBank Investment Advisers. "We believe that Platform Science is the first company creating a platform that unifies hardware solutions and software operating systems in this sector. This offers flexibility and delivers an unlimited canvas to fleets and developers seeking to innovate and create new solutions as the industry evolves. We are delighted to be partnering with Jack Kennedy and the team to help fleets future-proof their operations by making transportation smart."

As part of the funding round, Boriss will join Platform Science's Board of Directors.

Platform Science recently launched Virtual Vehicle^TM, which was developed in collaboration with Daimler Truck North America. Virtual Vehicle is the first open OEM platform that enables fleets to access telematics, software solutions, real-time vehicle data, and third-party applications directly from their vehicles. In addition, Platform Science works with many leading carriers, including Schneider National, Werner Enterprises, and U.S. Xpress, Inc., among others, as well as with technology leaders such as Drivewyze, Samsung, and Great Dane.

About Platform Science

Platform Science is transforming transportation technology by future proofing and empowering enterprise fleets with a unified, user-friendly technology platform. Platform Science makes it easy to develop, deploy, and manage mobile devices and applications on commercial vehicles, giving fleets an edge in efficiency, flexibility, visibility and productivity. The customizable platform delivers an unlimited canvas to fleets and developers seeking to innovate and create new solutions as customers' needs, businesses and industries evolve. In 2021, Platform Science was ranked #2 in the FreightTech 25 Awards by industry news leader, FreightWaves. For more information, please visit www.platformscience.com.

SOURCE Platform Science