Miovision

Miovision is a Canadian mobility solutions provider that gathers and analyzes traffic data to assist cities with reducing congestion and emissions as well as improving safety and efficiency. The firm started off as a provider of Miovision Scout, a portable device for collecting traffic data. In 2017, the firm launched a smart traffic platform (Miovision TrafficLink), coupled with hardware for gathering visual and multimodal traffic data, which allows users to analyze and remotely manage the traffic network.

The firm claims that its datalink portal, an online resource for traffic data, is the fastest and easiest way to access and analyze traffic data.

In July 2021, Miovision acquired Traffop, an automated traffic signal performance measurement tool that tracks performance using real-time and historical data. With this, Miovision is able to provide cities across the US with a “software-only” traffic management solution. In October 2022, the firm acquired long-time partner Rapid Flow Technologies, the developer of “Surtrac,” one of the early smart traffic signal control systems,  allowing Miovision to add Rapid Flow Technology’s proprietary solution to its platform. It will also acquire the team and plans to use Rapid Flow Technologies’ Pittsburgh location as its fifth global office. More recently, in April 2023, the firm acquired Global Traffic Technologies (GTT), a traffic management solution provider, to further optimize its traffic management suite.

Key customers and partnerships

As of January 2020, the firm’s solutions were in operation in more than 17,000 municipalities globally, including Detroit, New Jersey, and Waterloo.

Funding and financials

In April 2023, the company raised USD 260 million in a growth funding round co-led by TELUS Ventures, Maverix Private Equity, and Export Development Canada (EDC). It planned to use the funds for both internal and external growth initiatives, including integrating new acquisitions and investing more in product development. The round follows its CAD 120 million (USD 93 million) in its Series D funding in January 2020 led by TELUS Ventures.

The firm also disclosed in January 2020 that it had achieved a revenue CAGR of 37.4% over the previous 10 years.