The Ontario Municipal Employees Retirement System’s venture capital arm has led a $9 million series-A funding round for automative intelligence firm Acerta Analytics Solutions Inc.
OMERS Ventures was joined in the funding round, which recently closed, by Microsoft Corp.’s venture fund M12, StandUp Ventures, Radical Ventures Investments Inc., Export Development Canada and Techstars.
Acerta is aiming to use the capital to expand its team, launch into new markets and broaden its capabilities in generating insights on automotive production and vehicle data.
“Artificial intelligence has already played a huge role in stimulating innovation in the automotive industry and it will continue to do so for many years to come,” said Brian Kobus, partner at OMERS Ventures, in a press release. “We’ve entered a new phase in the world of transportation and Acerta is in a unique position to empower automakers around the world by enabling them to harness the power of their data to deliver valuable insights, drive [return on investment] and ultimately make better decisions for their business and customers.”