MANCHESTER, England--(BUSINESS WIRE)--Wejo Group Limited (NASDAQ: WEJO), a global leader in Smart Mobility for Good™ cloud and software solutions for connected, electric and autonomous vehicle data, today announced its been selected by The Eastern Transportation Coalition (TETC) to join TETC's Traffic Data Marketplace (TDM). By joining the TDM, Wejo projects a multimillion-dollar revenue opportunity over four years, creating a solid foundation for future offerings such as through the adoption of real-time traffic intelligence and historic traffic patterns offerings, including Wejo RTTI™ and Wejo HTP™ by member states. With these offerings and others, Wejo will be positioned to immediately help member Departments of Transportation (DoTs) and other public agencies to prioritize and improve city infrastructure to reduce preventable road incidents, ease congestion and make mobility smarter and more sustainable for everyone with smart mobility insights from connected vehicle data (CVD).
With state and local agencies looking to maximize the influx of funding made available from the Bipartisan Infrastructure Law, TETC members now have the opportunity to access Wejo CVD generated from millions of connected vehicles on the road. The CVD provides a unique and powerful way for public agencies to gain an accurate, granular understanding of trends across the mobility ecosystem based on vehicle speeds, journey information, hard braking events and more. These insights are a powerful tool for state and local agencies looking to reduce traffic congestion, enhance safety, improve air quality and preserve the value of transportation assets in the future which maps to the law’s key themes.
“One of Wejo’s core driving principles is enabling Smart Mobility for Good™ products and services that deliver faster, smarter, and safer journeys for everyone on the road,” said Richard Barlow, Founder and CEO at Wejo. “Joining TETC’s Traffic Data Marketplace allows us to benefit people's lives, drive revenue and power innovations by sharing data and insights that create safer roads for drivers across the eastern corridor.”
TETC is a partnership of 17 states and Washington, D.C., connecting public agencies to increase road safety and efficiency. In the past 25 years, TETC has evolved from a small, highway-focused group to more than 100 public agencies working together to address the pressing challenges facing the eastern corridor, focusing on transportation systems management & operations, freight, and innovation. The primary goal of TETC is to provide Coalition members with the ability to acquire reliable travel time & speed data for their roadways without the need for sensors and other hardware. As a leader in real-time traffic and traffic analytics, Wejo is primed to support TETC’s stated goals.
The TDM provides members with access to real-time travel data, serves as a source of traveler information, and acts as an input to management tools that supports operations and planning.
Additionally, the TDM uses data associated with vehicles or passengers harvested from various suppliers, agencies, devices, and technologies within the traffic stream. TETC recently relaunched its marketplace with Wejo as one of its 12 data vendors.
For more information, please visit https://tetcoalition.org/projects/transportation-data-marketplace/
About Wejo
Wejo is a global leader in Smart Mobility cloud and software solutions for connected, electric, and autonomous vehicle data, revolutionizing the way we live, work and travel by transforming and interpreting historic and real-time vehicle data. The Company enables Smart Mobility for Good™ products and services by organizing trillions of data points from approximately 18 million vehicles and more than 79 billion journeys globally, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information and intelligence, Wejo is creating a smarter, safer, more sustainable world for all. Founded in 2014, Wejo employs approximately 300 people and has offices in Manchester in the UK and in regions where Wejo does business around the world. For more information, visit: https://www.wejo.com/ or connect with us on LinkedIn, Twitter, and Instagram.
Forward-Looking Statements
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