RailState Funding Announcement $4Million in new funding May 2024

Quincy, Massachusetts – May 7, 2023

RailState, the leader in rail network intelligence solutions, today announced $4 million in new funding. This new investment was led by a group of private equity and industry executives with deep experience in information services, SaaS, and engineering services. The funds will be used for the strategic expansion of RailState’s network coverage, including across the US-Mexico border, and product investments to empower customers with accurate, real-time rail network insights.

Mike Liik, President of the investor group, said, “We could not be more confident in this team and the vision. We look for investment opportunities where the team has an unfair advantage. Jamie and John’s deep knowledge of the problem, long-standing relationships in the industry, and unique solution to a big, valuable problem is exactly that advantage.”

RailState was founded in 2021 by Jamie Heller, CEO and John Schmitter, Chief Commercial Officer. Both have decades of experience in the rail industry serving as trusted advisors to shippers in utilizing data insights to optimize operations. The broader RailState team is comprised of rail industry veterans, artificial intelligence engineers, and leaders from logistics software providers, including former employees of Google and Class I railways.

Since its inception, RailState has built an insights platform providing real-time, actionable intelligence covering all aspects of train movements and rail network performance across all of Canada and parts of the United States. The platform relies on a proprietary network of sensors that captures detailed information on passing trains in any conditions. Customers include some of the largest rail shippers in Canada, including Teck Resources Limited and Canpotex, among others, and government agencies overseeing transportation, including Transport Canada and the Canadian Transportation Agency.

“We’re grateful for this strategic support,” Jamie Heller, RailState CEO, said of the funding. “We’ve been moving quickly expanding our network and empowering rail users with critical AI insights to make better decisions. This funding helps us move even faster. We’re especially excited to be opening a new region of coverage at the US-Mexico border.”

About RailState:
RailState is the only independent, real-time measure of rail capacity and performance in North America. With a network of AI-powered sensors that capture detailed information on train movements, RailState provides actionable insights and market intelligence that empower customers to optimize their supply chains, achieve policy and planning goals, and make more informed decisions. 

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