With Bryan Mistele at the wheel, Inrix was on the move in 2011. The Kirkland provider of real-time traffic information raised a $37 million venture round from Kleiner Perkins Caufield & Byers, signed a multi-million dollar deal with Google and purchased its biggest European rival.
The $60 million buyout of ITIS Holdings added $27 million in revenue and 155 employees to Inrix, a profitable 7-year-old Microsoft spin-off which had already been growing at a fast pace. No wonder that Mistele – who previously ran Microsoft’s automotive group — told GeekWire in July that he’s on the path of taking Inrix public.
“We are absolutely committed to being a worldwide provider of traffic data,” said Mistele, adding that traffic remains a “billion dollar opportunity.”
Just how deep is Inrix’s penetration in the traffic market?
Consider this: Nine of the top 10 traffic apps on Android and iPhone use the company’s traffic information. And the company boasts more than 200 customers, including automobile makers like BMW and Internet mapping companies like Mapquest.
Traffic bottlenecks likely won’t be disappearing anytime soon, which creates a nice opportunity for Mistele as he tries to help drivers all over the world more efficiently get from point A to point B.