Miovision is a Kitchener, Canada–based provider of scalable intelligent transportation solutions that use AI to improve traffic efficiency and safety at intersections. Its platform detects vehicles and pedestrians and helps communities reduce traffic congestion and vehicle emissions across different road users. Since 2005 the company’s systems have detected over 30 billion vehicles and 1.5 billion pedestrians, and it serves nearly 2,000 customers in 63 countries. Miovision also maintains offices in Germany, Serbia, and the US. The company raised $260M in funding and plans to use the capital to accelerate organic and inorganic growth and to increase investment in product development. Miovision is led by CEO Kurtis McBride. Miovision provides a computer vision, artificial intelligence and advanced modelling platform that enables cities to measure, manage, and optimize traffic congestion and safety. Founded in 2005 by CEO Kurtis McBride, the company has offices in Kitchener, Canada and Cologne, Germany. Miovision serves over 17,000 municipalities worldwide. As part of the investment, TELUS will become the company's preferred wireless provider and will leverage its dedicated IoT network to connect Miovision-equipped traffic signals. That connectivity will allow cities to remotely access, analyze, and act on data generated at intersections. The company intends to use the funds to continue to expand its business reach globally. Miovision develops smart intersection technology and AI-based video traffic data products that enable real-time adaptive traffic control and infrastructure communication. Its open-architecture platform is designed to connect intersections to other mobility solutions such as emergency vehicle preemption, connected cars, public transit, pedestrians and cyclists. Miovision’s solutions have been installed by more than 100 state transportation departments and city agencies in North America, and its AI video traffic product has been used in over 17,000 municipalities worldwide. The company says the financing will help weave its smart intersection technology deeper into smart-city deployments. Miovision was founded in 2005 and has offices in Kitchener, Canada and Cologne, Germany. Since inception the company has achieved a revenue CAGR of over 50%. Miovision builds traffic-management software used by cities to improve traffic flow, make roads safer, and help plan streets for drivers, cyclists and pedestrians. The company works with 17,000 municipalities worldwide. The Ontario government is investing $1.5 million through the Southwestern Ontario Development Fund to help Miovision grow its team and move into Catalyst137, a 475,000-square-foot IoT hub. Miovision also leveraged $13.5 million of its own funding to support the move into Catalyst137. The project is expected to create and retain 384 positions and be completed by December 2021. CEO Kurtis McBride, an initial leader behind Catalyst137, said the investment will help the company scale and make a bigger impact with cities. Miovision is a traffic systems technology provider that launched the Scout Video Collection Unit in 2011 to help collection firms, engineering firms and government agencies analyze traffic data. Founded in 2007 out of the Accelerator Centre at the University of Waterloo Research & Technology Park and based in Kitchener, Ontario, the company serves more than 500 customers in 50 countries. Led by CEO Kurtis McBride and COO Tony Brijpaul, Miovision is shifting focus toward cloud-based traffic management to underpin smart city applications and to directly improve traffic patterns and flow. The company completed a CAD$30m (USD$24m) Series B financing and intends to use the funds to expand its team and accelerate its technology. Previous equity investments totaled CAD$5.75m from Investeco Capital, Renewal Funds, MacKinnon, Bennett & Co., a local angel network and private employee investments. Miovision raised the majority of this financing from Canadian investors.

Total raised

$392M

Funding rounds

5

Latest round

Equity

Latest activity

Apr 2023