Multi-year Agreement Helps Iteris Unlock New Mobility Insights Using Granular, Highly Accurate Data Available Uniquely Through the Otonomo Smart Mobility Data Platform
HERZLIYA, Israel and SAN FRANCISCO and AUSTIN, Texas, Jan. 19, 2023 (GLOBE NEWSWIRE) — Otonomo Technologies Ltd. (Nasdaq: OTMO), the platform powering the mobility economy, and Iteris (Nasdaq: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced a multi-year agreement to integrate connected vehicle data available through the Otonomo Smart Mobility Data Platform into Iteris’ ClearMobility® Platform. This additional data source will help Iteris unlock new mobility insights from its multiple sources of traffic intelligence, advance its digital mobility infrastructure solutions for the public sector and commercial enterprise customers, and deliver on its mission of creating a future of smarter and connected transportation.
“We are excited to extend our relationship with Otonomo,” said Will Cousins, senior vice president and chief product officer at Iteris. “They offer a world-class platform to ingest, process and publish connected vehicle data. Combined with our other third-party and proprietary mobility data, the data available through Otonomo’s platform will support even more precise traffic assessments, especially for less frequently traveled roads that are not as well supported by existing infrastructure communication systems. With Otonomo, we can continue to unlock the future of mobility infrastructure.”
With its ClearMobility Platform, Iteris’ capabilities include cloud-based mobility applications, safety intelligence and alerts, performance analytics, cellular vehicle-to-everything (C-V2X) solutions, advanced intersection detection, AI-enabled object classification, mobility contextual awareness, travel time and congestion information, corridor management, and transportation planning and operations. To make it easy for customers to benefit from the ClearMobility Platform, Iteris offers its platform-enabled capabilities in a variety of models including an anything-as-a-service (XaaS) basis. Iteris provides these capabilities to a large customer base that includes transportation agencies, media companies, automotive manufacturers, construction and engineering organizations, and risk management enterprises.
“Our work with Iteris comes at a time when there is a pressing need to address the constantly growing and varied data sets available from the private sector,” said Anders Truelsen, chief revenue officer of Otonomo. “One of the biggest opportunities is being able to use the connected vehicle data available through the Otonomo platform to close the data activation gap—the gulf between getting the data and making it actionable—and help them to achieve the full promise of the mobility economy.”
The Otonomo Smart Mobility Data Platform provides easy access to a range of proprietary and patented mobility data solutions that power our customers’ products and services—from curated, high-quality, multi-layered connected vehicle data, standardized and blurred to remove identifiers, to VIN-specific data compliant with data privacy regulations. Customers have used this rich connected vehicle data to:
- Gain an unprecedented view of traffic behaviors globally to improve real-time traffic flows with an accurate picture of what’s happening across road systems.
- Allow smart cities to manage emissions, intelligently control idling areas, optimize parking and public transport, and create data driven simulations for short and long-term planning.
- Manage road safety through real-time and historical data on accidents, hard braking or speeds, in addition to weather events and road friction to identify hazardous sections of road and plan for necessary improvements.
- Support infrastructure and transportation developments, with vehicle count, average speed, and origin/destination data to determine site analysis and demand planning.
Otonomo (NASDAQ: OTMO), the platform powering the mobility economy, is igniting a new generation of mobility experiences and services and is making mobility more accessible, equitable, sustainable and safe. With Otonomo, over 100 providers in the transportation, mobility, insurance, and automotive industries are finally able to harness mobility data and insights and transform them into strategic assets and market advantages.
Our partners gain access to the broadest, most diverse, range of data from connected vehicles with just one contract and one API.
Architected with privacy and security by design, our platform is GDPR, CCPA, and other privacy regulation compliant, ensuring all parties are protected and companies remain privacy compliant across geographies worldwide.
Otonomo has R&D centers in Israel and the UK, with a presence in the United States and Europe.
More information is available at otonomo.io.
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About Iteris, Inc.
Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility Platform, our cloud-enabled end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
For Otonomo media and investment inquiries, please contact:
Senior Director of Communications, Otonomo
Otonomo Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Otonomo, the anticipated technological capability of Otonomo, the markets in which Otonomo operates and Otonomo’s projected future financial and operational results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to identify and realize additional opportunities, the ability to successfully integrate Neura and The Floow, and potential changes and developments in the highly competitive data marketplace. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Otonomo’s annual report on Form 20-F filed with the SEC on March 31, 2022 and other documents filed by Otonomo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Otonomo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Otonomo gives no assurance that it will achieve its expectations.
For Iteris media and investment inquiries, please contact:
Iteris Media Contact
Tel: (949) 996-5348
Iteris Investor Relations
MKR Investor Relations, Inc.
Tel: (213) 277-5550
Iteris Forward Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “seeks,” “estimates,” “may,” “should,” “will,” “can,” and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the agreement and the benefits and impacts of the integrated connected vehicle data for the ClearMobility Platform. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to provide our services and products in a cost-efficient manner; our ability to effectively introduce, market and gain broad acceptance of our new and existing product and service offerings; the potential impact of product and service offerings from competitors and other competitive pressures; challenges in the development of software-based solutions generally; and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).