Platform Science is a connected vehicle software platform that empowers customers to streamline logistics by turning trucks into IoT devices. Its software provides drivers and fleet managers with a suite of interconnected applications to improve data collection, efficiency, and compliance. By forging partnerships with leading truck OEMs–embedding its software in >90% of new heavy-duty trucks globally–and developing a growing suite of 65+ unique apps, Platform Science is positioning itself to connect any driver with any solution as the open operating system of the trucking industry.

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In doing so, Platform Science is disrupting the current state of the connected vehicles market–which is characterized by long IoT hardware installation times and siloed app suites that inhibit data insights. By removing the need for external hardware and enabling seamless data flow in real-time, Platform Science is poised to usher in the next era of the connected vehicles market which is expected to grow at a 17% CAGR to reach $74 billion by 2029.

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Platform Science is backed by Softbank and numerous strategic partners including Daimler, Paccar and Mercedes-Benz – three of the leading truck OEMs -  who have all agreed to integrate the company’s software into their vehicles. Most recently, we participated in Platform Science’s Series C-1 round in July 2023.

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While a trucking recession impacted new customer growth in 2023, Platform Science demonstrated the value and stickiness of its product with strong spend retention. Going forward, the continued roll-out of OEM-integrated software, combined with an improving trucking industry, are expected to drive accelerating growth over the next few years.

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