Bentley Systems, Incorporated, the software company specializing in infrastructure engineering, has successfully finalized the acquisition of Blyncsy, a trailblazing provider of artificial intelligence services for transportation departments to enhance operational efficiency and maintenance endeavors. This strategic move amplifies the focus on digital twin ecosystems within Bentley’s iTwin Ventures portfolio, thereby expediting the advancement and widespread application of highly beneficial infrastructure asset analytics.
Established in 2014 in Salt Lake City, Utah, by CEO Mark Pittman, Blyncsy harnesses the power of computer vision and artificial intelligence to scrutinize readily available imagery, identifying maintenance requirements across roadway networks. The inspiration for this company stemmed from Pittman’s personal experience waiting at a traffic light, igniting the belief that there were untapped possibilities in amalgamating “real-time” condition data with innovative technologies to enhance the efficiency of Departments of Transportation (DoTs).
Blyncsy’s disruptive AI services replace resource-intensive and time-consuming manual data collection procedures, obviating the need for extensive personnel, specialized vehicles, or field-specific hardware. This, in turn, enhances the awareness of transportation owners and operators while enabling prompt remediation of road conditions. The spectrum of Blyncsy’s capabilities spans over 50 distinct roadway safety concerns, encompassing precise identification of active construction zones.
Mark Pittman affirmed, “Blyncsy is steadfast in its commitment to applying cutting-edge AI and machine learning techniques to enhance transportation networks. Our alignment with Bentley Systems will undoubtedly augment the value we provide to our users, allowing us to deliver even more profound asset analytics to transportation stakeholders, ultimately catering to the requirements of present and future drivers.”
Ed Sniffen, Director of the Hawaii Department of Transportation, emphasized, “Safety holds paramount importance, closely followed by operational efficiency. We rely on real-time data, such as the insights derived from Blyncsy, to proactively manage our highway systems for optimal safety and reliability. Embracing technology that enhances productivity, Blyncsy furnishes us with weekly reports encompassing visuals and images detailing guardrail, roadway, and vegetation conditions, thereby empowering us to allocate resources strategically to address system needs.”
Mike Schellhase, the Managing Executive of Bentley’s iTwin Ventures, stated, “Blyncsy came into our purview as a potential contender for the subsequent VC investment phase. However, the profound impact of their innovations convinced us to proceed with a direct acquisition, aimed at swift and extensive scaling. Our anticipation is that investments in comprehensive asset analytics will gain momentum, capitalizing on the potential of infrastructure digital twins.”
Incorporating Blyncsy’s AI services into Bentley’s emerging mobility digital twin offerings, the acquisition entails Blyncsy’s transition to Bentley’s iTwin Platform, ensuring seamless integration with infrastructure proprietors’ engineering and simulation models.
The acquisition received support from Ignatious Growth Capital and Advisory on behalf of Blyncsy. Noteworthy investors in Blyncsy include Peterson Ventures, Doug Wells, Elemental Excelerator, Park City Angel Network, OakHouse Partners, and CEAS Investments.
