The Drivewyze Story: Delivering Resilient Innovation Through Tangible ROI
By: Mike McClure, Tim Armstrong, Caitlin Vorlicek & Mike Browne
On August 7th, former Sageview portfolio company Drivewyze, announced its acquisition by Bestpass-Fleetworthy Solutions. We are thrilled for the success of the Drivewyze team, our partnership, and importantly, the industry participants who will benefit from the combined Drivewyze / Bestpass-Fleetworthy platform.
Drivewyze: Leading Innovation in Connected Truck Services
Dating back to its founding in 2003, Drivewyze differentiates itself through its deep-rooted network and expertise in digitizing weigh stations for state and federal transportation authorities. This network, which now spans 46 states, is not only difficult to replicate but provides a strong foundation for product innovation.
Today, Drivewyze is at the forefront of connected truck services and data, providing critical in-cab information to drivers to improve fleet operating efficiency and reduce costs. The company’s flagship product, a weigh station bypass system called “PreClear,” operates like a traffic light, informing drivers whether they need to stop for an inspection at a weigh station or continue driving. By reducing unnecessary stops, drivers realize both time and fuel savings, which can save carriers low-hundreds of dollars per month per truck. The streamlined workflow delivered by PreClear also enhances driver satisfaction and retention, while delivering environmental impact through reduced emissions. This trifecta of quantifiable hard dollar ROI via cost savings, improved driver satisfaction and positive environmental impact is difficult to find in one solution.
Then and Now – Enhancing Driver Reach and Impact
When Sageview partnered with the Drivewyze team in 2020, the Company had already established a solid foundation with its PreClear product and a robust go-to-market strategy primarily focused on its ELD provider partner network. With a lot more to go after, we partnered with management to build out Drivewyze’s direct sales and marketing functions and support the successful launch of Drivewyze’s second network-enabled product, “Safety+.” This in-cab safety notification system provides drivers with real-time alerts about road hazards to improve over the road driver safety. Sageview Senior Advisor Bill Ingram also joined Drivewyze’s board to further aide its GTM initiatives while supporting the finance and accounting teams as the Company continued to scale.
Over the years, Drivewyze has grown its product and customer base effectively, more than doubling revenue since 2020. We believe this growth reflects the team’s commitment to delivering innovation, support, improved safety and operational efficiency to its customers and drivers.
Doubling Down: Drivewyze and Bestpass-Fleetworthy
Bestpass-Fleetworthy specializes in toll management solutions that simplify toll payments and related compliance. The combination makes operational sense for both drivers and fleets. Drivers benefit from a seamless experience using both toll management and weigh station bypass systems, reducing the need for multiple platforms and minimizing disruptions on the road. Fleets benefit from streamlined billing and easier management of highway-related expenses. The partnership also presents new opportunities for innovation and cross-selling, leveraging Drivewyze’s network and relationships with transportation authorities.
Navigating Market Challenges: A Timely Combination
The ongoing freight recession saw 88,000 trucking authorities exit the market in 2023 and led to weaker profits for carriers and brokers across the board. Amidst this backdrop, the success of Drivewyze and Bestpass-Fleetworthy stands out. Both companies offer products that are critical to daily operations and provide high ROI, making them resilient even in challenging economic conditions. The merger of Drivewyze and Bestpass-Fleetworthy reflects a strategic response to these market dynamics. Together, they provide a more comprehensive and efficient service that directly addresses the needs of drivers and fleets.
The Search for Real Value in Logistics
While the idea of technology fully replacing logistics operations is intriguing, we believe we are far from a marketplace-like model controlled by algorithms. The industry’s complexity means human judgment remains crucial for navigating challenging situations. Thus, the ROI from technology is measured not only by financial gains but also by the practical benefits experienced by people in their daily operations. Technologies that deliver this kind of value thrive across all market conditions, and we are eager to identify and support the next innovation.