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WEX bolsters EV commercial adoption solutions with Sawatch Labs acquisition

May 1, 2024

WEX, the global commerce platform that simplifies the business of running a business, today announced it acquired Sawatch Labs, a Colorado-based startup founded in 2017 focused on developing fleet electrification analytics software. Sawatch Labs uses mile-by-mile predictive analytics to determine electric vehicle (EV) suitability, cost modeling, infrastructure planning, vehicle management, and emissions reporting to help customers track and meet their goals for sustainability and profitability. The acquisition has the potential to help advance WEX’s ability to support customers through their EV evaluation processes. 

“We’re thrilled to welcome Sawatch Labs and its customers to the WEX community,” said Jay Collins, WEX’s General Manager, Energy Transition. “We believe the combined strengths and capabilities of WEX and Sawatch Labs will bring to market a best-in-class offering of predictive EV analytics to existing and prospective commercial fleet mobility customers as they forecast their potential transition to electric vehicles and unlock the full potential of a mixed fleet future.”

Building a Mixed Fleet

Building a mixed fleet – an integration of both electric and traditional vehicles – provides a pragmatic approach for businesses navigating through the initial stages of fleet electrification. With a mixed fleet, a business can balance innovation, operational reliability, and efficiency. A mixed fleet adoption strategy allows businesses to gradually familiarize themselves with the nuances of EV operation, maintenance, and management without undertaking an all-encompassing shift. It also affords the flexibility to capitalize on the strengths of different vehicle types based on specific operational needs and route characteristics, ensuring that a fleet’s efficiency isn’t compromised during the transition period. Adopting a mixed fleet is a risk-mitigated, calculated introduction to electric mobility, offering businesses the latitude to adapt, learn, and potentially transition fully when the infrastructure is fully in place.

Sawatch Labs’ best-in-class EV analytics, fleet optimization software, and emissions reporting can help customers determine the right mix of vehicle technologies to meet their operational goals – from determining how many vehicle swaps to EVs would help save the company money to understanding charging costs to avoid peak demand surcharges. 

“As the founder and CEO of Sawatch Labs, our small but mighty team has been on a mission since 2017 to unlock the potential of a commercial fleet’s operational data and transform it into actionable recommendations to optimize fleet operations,” said Matt Helm, Founder & CEO, Sawatch Labs. “With more than one million miles analyzed, our advanced analytics have successfully supported commercial fleets across the U.S. Joining WEX presents an enormous growth opportunity for Sawatch employees and customers, and we’re proud to be a part of the WEX brand.”

Sawatch Labs’ technology is set to complement existing WEX EV solutions like: 

  • EV Fleet Converter, a free tool that helps fleet managers understand the feasibility, costs, and benefits of electrifying a fleet; 
  • DriverDash, an app that provides secure, integrated fuel and charging payment options; and 
  • WEX EV At-Home, a recently-announced solution that automates reporting and reimbursement for charging at home.

WEX has over 600,000 commercial fleet customers worldwide, including more than 19.4 million vehicles serviced globally as of Q1 2024.

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