Wayleadr, a last-mile automation SaaS startup, has announced it has raised $4 million in funding led by Third Prime ventures.
Based in New York, Wayleadr is reimagining the last mile of any journey by connecting smart buildings and vehicles, removing the guesswork from the journey, reducing time and eliminating frustration for drivers.
This raise will be used by the company to further develop new technology that it will use alongside its powerful machine-learning algorithm to remove the guesswork in the last mile of any journey. Founded in Ireland, and now headquartered in New York, the fast-growing company has clients in over 21 countries from New Zealand to LA, and will expand its footprint in the US market by the end of 2022 and beyond.
This latest funding was led by Third Prime, a US VC firm that specializes in next-generation proptech companies, with previous high-profile investments including LATCH. The investment will enable Wayleadr to rapidly expand its global footprint and client base, which currently features high-profile companies such as eBay, Sanofi, L’Oreal, CBRE, WeWork and more. It will also result in a doubling of the team size across the US and worldwide.
According to research by Deloitte, Americans on average spend 17 hours per year searching for parking, resulting in a cost of US$345 per driver in wasted time, fuel, and emissions. By bridging the gap between smart buildings and vehicles, Wayleadr is contributing to a sustainable future by helping to streamline commuter journey requirements, while its last-mile automation technology looks set to become a major time-saving element for businesses and individuals as the world and pace of work rapidly changes.
Some of the benefits of last-mile automation include reduced car dependency, elimination of congestion and carbon, lower emissions for communities, and promote a reduction in the cost of parking for employers and employees alike.
Commenting on the significance of this latest funding round and their plans for last-mile automation, Wayleadr CEO and Founder Garret Flower said: “The world is an unpredictable place, with many forces outside of our control. Last-mile automation can empower us with a sense of ease when moving from point A to B. At Wayleadr, We use software to help people get to their destinations with less stress and uncertainty while en route working with landlords and large enterprise companies. By making journeys easier, Wayleadr gives people the most valuable commodity back in their lives: TIME!
“We are delighted to announce this fundraise bringing on board some fantastic new partners in a round led by Third Prime.
Speaking about the investment in Wayleadr, Keith Hamlin, Founding Partner at Third Prime, said: “We’re thrilled to support Garret and the Wayleadr team’s vision. With simple integrations to existing workflows, Wayleadr elegantly addresses the collective pain of building owners, operators and tenants when it comes to parking allocation and optimization while providing novel opportunities for monetization and revenue sharing. As we head toward a world of autonomous and shared vehicles, we believe Wayleadr will be well-positioned to further optimize these spaces and provide even greater value and convenience for its constituents.”