Uriel Katz, formerly a senior executive at the cyber company Trusteer, which was sold to IBM for $700 million, was stuck one night at a red light. After waiting a long time for it to turn green, he later teamed up with former Intel employee Or Sela and business and strategy consultant Tal Kreisler to found NoTraffic in 2017.
NoTraffic has built what it says is the largest smart-traffic-light network in the United States and Canada, covering about 10% of North American cities, including Houston and Phoenix. The company says its system upgrades outdated intersections, detects hazards from the road, and helps prevent crashes. It has also received praise from Nvidia chief executive Jensen Huang, who described it as one of the companies that will change the world.
The company says its technology improves traffic flow, reduces accidents, and even lowers fuel consumption for city residents. Kreisler said, “It sounds simple, but it requires a system that must stay stable at all costs: in snow, in wind, resistant to blinding sun or birds that landed on the sensor.”
NoTraffic has raised $165 million, employs 180 people, 100 of them in Israel, and counts PSG Equity, Next Gear of the Meir family, Grove Ventures, M&G, Meitav, and Life X among its investors. Industry estimates put its annual recurring revenue at $30 million to $50 million, with growth driven by installations in cities such as Houston, Phoenix, and Oklahoma City, plus operating approvals in at least 40 U.S. states, including Michigan, which joined last month, and several Canadian provinces. The company competes with Canadian firm Miovision and equipment makers such as Iteris, and it works with local installation companies to expand faster in the U.S. market. A city council member recently said at a meeting that NoTraffic had saved drivers more than $1.5 million.
