Hayden AI Raises $90 Million in Series C Led by TPG’s The Rise Fund
July 10 2024 - 8:00AM
Business Wire
Hayden AI Technologies, Inc (“Hayden AI”), the leader in vision
AI solutions for smart cities, today announced $90 million in new
growth equity financing. The Series C round was led by The Rise
Fund, the multi-sector strategy of TPG’s global impact investing
platform, and was supported by existing investors such as the
Drawdown Fund and Autotech Ventures, among others. This investment
will accelerate the company’s research, development and growth.
The funding comes as Hayden AI has expanded its market
leadership and customer base both domestically and internationally
in the $748 billion smart city market. Hayden AI’s vision AI
platform leverages geospatial data collection sensor systems to
provide comprehensive smart city intelligence and is trusted by
some of the nation’s largest cities and transit agencies, including
New York’s MTA, Washington DC’s Metro, Los Angeles Metro, the East
Bay’s AC Transit, and others, to detect and enforce parking and
moving violations that obstruct public transportation and road
safety. Hayden AI’s platform can be mounted on virtually any
vehicle type – providing a level of insight and situational
awareness that cities can use to make better decisions to achieve
both their operational and sustainability goals.
The Rise Funds invest in companies that drive environmental and
social impact alongside strong business returns. In addition to
enforcing parking and moving violations, Hayden AI’s vision AI
platform can detect and predict traffic congestion, monitor city
assets, and optimize transportation networks, which helps cities
improve public safety, sustainability, and efficiency.
“With The Rise Fund, we can develop our platform into a true
urban operating system – processing data and generating actionable
insights that help cities become more livable for everyone,” said
Chris Carson, founder and CEO of Hayden AI. “This new financing
lets us invest in long-term technology development to explore new
applications for our platform. TPG’s The Rise Fund has a long track
record of successfully scaling socially impactful companies across
the technology and climate sectors and we are thrilled to partner
with them to continue to empower cities to transform
sustainability, road safety, and accessibility.”
“Large cities have a dual mandate of increasing operational
performance and safety of their public transit systems while
improving their energy efficiency,” said Steve Ellis, a Managing
Partner of The Rise Funds. “Hayden AI’s proprietary technology
offers a solution that sits at the intersection of accessibility,
safety, and sustainability and is well aligned with The Rise Fund’s
pursuit of rapidly growing businesses that deliver social and
environmental impact at scale. Leveraging Hayden AI’s
industry-leading accuracy and adaptability, we look forward to
building on their success with the largest US cities to scale their
technology into additional use-cases and new cities domestically
and internationally.”
In New York City, automated camera enforcement has resulted in
5% faster buses along enforced routes and 20% fewer vehicle
collisions. Additionally, the MTA estimates that automated camera
enforcement has contributed to a 5% to 10% reduction in greenhouse
gas emissions. The MTA recently announced that the program is being
expanded to bus stop and double parking enforcement.
Hayden AI’s technology has not only helped cities realize
meaningful gains in safety and efficiency, but it has also earned
the company accolades, including recognition on the GovTech100 list
for four consecutive years, and recognition by TIME Magazine as one
of America’s Top GreenTech Companies of 2024.
About Hayden AI: At Hayden AI, we’re transforming how
cities leverage infrastructure with AI. Our market-leading vision
AI platform utilizes geospatial data collection sensor systems to
create an urban operating system, giving cities actionable insights
and situational awareness to improve sustainability, traffic
safety, and accessibility. Cities across the globe use Hayden AI’s
platform to make urban life more livable for everyone. Learn more
at www.hayden.ai
About The Rise Funds: The Rise Funds are a core pillar of
TPG Rise, TPG's global impact investing platform. Founded in 2016
by TPG in partnership with Bono and Jeff Skoll, The Rise Funds
invest behind impact entrepreneurs and growth-stage, high
potential, mission-driven companies that are focused on achieving
the United Nations' Sustainable Development Goals. The Rise Funds
deliver capabilities and expertise across a wide variety of sectors
and countries at scale, focusing on opportunities in climate and
conservation, education, food and agriculture, financial inclusion,
healthcare, and impact services.
With approximately $19 billion in assets across The Rise Funds,
TPG Rise Climate, and the Evercare Health Fund, the TPG Rise
platform is one of the world's largest private markets impact
investing platforms committed to achieving measurable, positive
social and environmental outcomes alongside competitive financial
returns.
For more information, visit therisefund.com.
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Hayden AI Jenna Fortunati Jenna.fortunati@hayden.ai +1
203-507-6503
TPG Ari Cohen Media@tpg.com +1 415-743-1550