Pecan AI's funding was led by Insight Partners and GV (formerly Google Ventures) also participated in the round.

This round brings Pecan AI's total financing to more than $50 million, and will allow the company to continue to expand global operations.

Founded in 2016, Waycare leverages artificial intelligence and predictive analytics for proactive traffic management optimization.

Waycare developed a smart mobility platform that uses in-vehicle information and municipal traffic data for predictive insights in real-time.