Bentley Systems, a prominent player in infrastructure engineering software, has announced its acquisition of Blyncsy, a trailblazing provider of artificial intelligence services for transportation operations and maintenance. The move aims to bolster the development and propagation of advanced infrastructure asset analytics within Bentley’s iTwin Ventures portfolio.
Blyncsy, founded in 2014 by CEO Mark Pittman in Salt Lake City, Utah, has been at the forefront of applying computer vision and artificial intelligence to analyse readily available imagery for identifying maintenance issues on roadway networks. Pittman’s inspiration for the company struck while waiting at a traffic light, leading him to envision a solution that merges real-time condition data and innovative technologies to enhance the efficiency of transportation departments.
The core innovation of Blyncsy’s AI services lies in replacing manual data collection efforts, a process that is often slow and expensive. By doing so, the company reduces reliance on-field personnel, specialized vehicles, and hardware, while simultaneously enhancing the awareness of transportation owner-operators and enabling them to promptly address road conditions. Blyncsy’s AI technology can identify over 50 different roadway safety issues, including pinpointing the locations of active construction work zones.
Mark Pittman remarked, “Blyncsy is committed to applying the latest AI and machine learning techniques to benefit transportation networks. This alignment with Bentley will only strengthen the value to our users, and together we will provide even deeper asset analytics to transportation owners, to support the drivers of today and tomorrow.”
The acquisition has garnered praise from industry experts. Ed Sniffen, Director of the Hawaii Department of Transportation, expressed how critical real-time data like that provided by Blyncsy is for proactive management of the highway system’s safety and reliability. He noted that Blyncsy’s reports, which include graphics and photos detailing road conditions, assist in prioritising resources effectively.
Mike Schellhase, Managing Executive of Bentley’s iTwin Ventures, highlighted the company’s strong conviction in Blyncsy’s breakthrough technology. He stated, “We were so convinced of the significance of their breakthrough that we undertook its outright acquisition, in order to scale it rapidly and pervasively. We expect investments in widespread asset analytics to accelerate leveraging infrastructure digital twins.”
As part of the acquisition, Blyncsy will integrate with Bentley’s iTwin Platform, seamlessly merging with infrastructure owners’ engineering and simulation models. Bentley plans to incorporate and introduce Blyncsy’s AI services as a valuable addition to its emerging mobility digital twin offerings.
The acquisition received support from Ignatious Growth Capital and Advisory on behalf of Blyncsy. Notable investors in Blyncsy included Peterson Ventures, Doug Wells, Elemental Excelerator, Park City Angel Network, OakHouse Partners, and CEAS Investments.
With this strategic acquisition, Bentley Systems is poised to further revolutionise the transportation sector by infusing it with cutting-edge artificial intelligence capabilities. The move represents a significant step towards safer, more efficient roadways, underpinned by advanced analytics and digital twin technologies.