All Traffic Solutions Closes $8M in Series A Funding
Fuels expansion for TraffiCloud Management Ecosystem
All Traffic Solutions Headquarters, State College, PA
I am excited to lead this extraordinary team as we accelerate our growth” said Jim Weaver, CEO of All Traffic Solutions. With Edison Partners’ holistic approach to investment, we have the resources to expand All Traffic Solutions leadership in the IoT.
State College, PA (PRWEB) June 29, 2016
All Traffic Solutions, the leader in traffic safety solutions for law enforcement and cloud based solutions that integrate with data from intelligent transportation systems, congestion management solutions and parking sensors announces an investment of $8 million by Edison Partners. The investment will help ATS expand its patented TraffiCloud Management Ecosystem that allows customers to manage remote equipment from multiple vendors, using the generated data to streamline operations and achieve actionable results.
A recognized leader in the Internet of Things (IoT), ATS will expand its partnerships with product manufacturers to provide those partners access to the efficiencies and revenue opportunities of the TraffiCloud Ecosystem.
In addition to expanding sales, marketing and support functions, Edison’s investment will support TraffiCloud partnership expansion with other vendors in the transportation and smart city cloud ecosystems.
On December 4, 2015, President Obama signed the Fixing America’s Surface Transportation (FAST) Act (Pub. L. No. 114-94) into law—the first federal law in over a decade to provide long-term funding certainty for surface transportation infrastructure planning and investment. The FAST Act authorizes $305 billion over fiscal years 2016 through 2020 for highway and motor vehicle safety, public transportation, motor carrier safety, hazardous materials safety, and rail, research, technology, and statistics programs. A significant portion of this appropriation will be made available for intelligent transportation and traffic congestion management, areas core to the ATS product set.
“Partnering with Edison went far beyond securing funding; we were searching for a strategic partner with a proven industry network that could accelerate our growth trajectory,” said Ted Graef, President and co-founder of All Traffic Solutions “The ability for Edison to recruit Jim Weaver as CEO, with his multiple Public Sector IT successes, is a game changer for us.
“I am excited to lead this extraordinary team as we accelerate our growth” said Jim Weaver, CEO of All Traffic Solutions. “With Edison Partners’ holistic approach to investment, we have the resources to expand All Traffic Solutions leadership in the Internet of Things in both our established markets and new opportunities.”
ATS will further growth through strategic personnel additions in development and sales, expanding its product offering and global reach. The TraffiCloud cloud-based Management Ecosystem already saves customers significant time by automatically collecting traffic data and making the data easily accessible to its customer’s user base. Going forward, ATS will leverage its IoT leadership in the Smart City market, expected to be a billion dollar opportunity bringing our cities economic, social and environmental improvements. With over 2500 municipal and law enforcement customers in the US and over 20 countries, ATS has a substantial foundation to build upon as they extend into the smart city market.
“The TraffiCloud platform is achieving impressive market growth,” said Gary Golding, General Partner at Edison Partners. “Its analytics capabilities and integrations with data from camera systems, speed radar, congestion management solutions and parking sensors, create great operational efficiencies and huge ROI for clients. The company has already established a clear leadership position in the space and we look forward to partnering with All Traffic Solutions as they continue to grow.”
As Deputy Chief of Police Angela Burton at the City of Des Plaines noted, “due to the superior technology All Traffic Solutions offers, there are no current competitors that match the same type of product features. They are the only vendor who can provide the solution to our traffic safety program challenges, allowing us to achieve better results.”
About All Traffic Solutions
Located in State College, PA., All Traffic Solutions is consistently recognized as a leading innovator in the traffic safety market for speed displays, message signs, imaging products and intelligent transportation systems, delivering groundbreaking levels of service and product capability. By integrating cloud technology into all of its products, All Traffic Solutions allows customers to manage all their equipment and data remotely, through a browser resulting in better traffic safety outcomes and initiatives related to vehicle-to-infrastructure solutions and smart cities.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing software industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Princeton, NJ, McLean, VA, and Cleveland, OH, manages more than $1 billion in assets throughout the eastern United States.
