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A lot can happen in four years: industries evolve, priorities shift and opportunities emerge where none existed before. For transportation technology firm Neology, whose CEO Bradley Feldmann came on board in 2022, it’s a period of time that has been utterly transformative.
When Feldmann took the reins, the company had a revenue of around US$30 million – a picture that has drastically changed in a relatively short time.
“Last year, we finished around US$115 million, so we quadrupled the size of the company in four years,” he tells The CEO Magazine.
It’s growth that has been achieved by evolving Neology’s offering from mere products to entire systems and platforms. It’s a progression that allows it to add more value for its customers, Feldmann explains.
“That’s value for our employees, value for our customers and value for our shareholders in that order.”
“People want a purpose, people want to know why they’re here and what we’re trying to do.”
The company’s people have been central to this success story.
“Turns out the systems and platforms have allowed us to attract great people to move in that direction,” he says. “In the last two years, we have dramatically reduced the voluntary turnover rate – cutting it in half – and dramatically increased our engagement scores by about 10 points. So I think people like working here.”
Monthly calls and transparency around Neology’s objectives, actions and achievements have helped build this culture, where shared purpose is fundamental. Behind Feldmann’s desk, the values are emblazoned on his wall – a constant reminder of why the whole team is there.
“We always emphasize our values and we always emphasize our strategy,” he says. “People want a purpose, people want to know why they’re here and what we’re trying to do. I think these are some fundamentals.”
Spreading this sense of purpose is a large part of what drives Feldmann, while ensuring the demands of the broader industry and shareholders are also met.
“Sometimes those don’t all perfectly align,” he admits. “The trick is to figure out how to thread the needle through all of that.”
Innovation plays a crucial role in this balancing act, with Feldmann confident the name Neology reflects the company’s technological strengths.
“When you think of it, these tolling networks are internet of things schemes where we have sensors that detect, identify and classify so that data is processed, we fuse it together,” he explains. “It is processed in the back office and then we have people wrapped around it.”
Continually improving the company’s use of the internet of things is also a priority, with AI providing deeper insights and faster decision-making. But even with these advances, success still depends on Neology’s people. That’s why Feldmann focuses on equipping employees with the skills to maximize new technologies while recruiting talent to strengthen the business.
“We didn’t know anything about tolling four years ago and now we have a bench strength of some great, great people,” Feldmann says.
A common issue in the tolling industry, Feldmann says, is that companies invest heavily in winning contracts but then struggle to deliver on their promises. Avoiding that pitfall has become one of his key priorities.
“I spend a lot of time actually reading proposals and trying to make them sharper and better,” he explains. “I make sure that our buyers or customers have sovereignty. They can do whatever they want. We try and identify what the benefits are that we can offer to the customer and then try to make that sing loudly.
“The Nvidia processor on the edge allows us to continuously learn so we can provide the signature of the vehicle, the make, model, color, distinguishing features and we can learn about plates.
“Because a challenge in the tolling industry has historically been that people have used these ‘cameras’ before, but then to verify they had to have a whole bunch of people on the back end to read license plates. And so by having the dual camera and the AI, the camera does the work with very, very little image review.”
“We can service the whole spectrum of what customers need. We’re one of the very few companies in North America that has all the capabilities under one roof.”
The company also delivered a commercial back office in Minnesota in six months, record speed for the industry.
“Neology’s project with Georgia’s State Road and Tollway Authority (SRTA) is the biggest integration contract in SRTA’s history,” he says. “We’re replacing roadside equipment, adding new traffic technology, installing our neoBOSS™ back office system and providing ongoing support. Our smart cameras use AI to help read license plates and identify vehicles more accurately, reducing manual work and improving efficiency.
“The new system will also classify vehicles without sensors in the road, making maintenance easier. It’s Neology’s mission to help our customers enhance mobility, increase sustainability, improve safety and generate increased revenue. This project is a realization of our mission and we are proud to deliver these outcomes to SRTA and the communities it serves.”
Neology’s pivot to systems-based work means that, instead of simply installing and operating systems, it now earns revenue from every transaction – a switch that saw it acquire P-Square Solutions in 2025. The first such “end-to-end” project was a public-private partnership with Plenary in Colorado and others have since followed.
“When I got here, we were almost exclusively a products company that did identification and classification of vehicles in the toll zone and we’ve added capabilities to move into systems,” Feldmann reflects.
“We’ve added back office capability and customer support center capability. And so therefore we can service the whole spectrum of what customers need. We’re one of the very few companies in North America that has end-to-end system capabilities under one roof.”
Neology serves customers across multiple sectors, but Feldmann says one of its fastest-growing markets is Departments of Transportation across North America.
“We’ve done Tennessee, Utah, New Jersey, California, Nebraska, Texas, Mississippi, the Federal Railroad Administration, Philadelphia and the New York Department of Design and Construction,” he says.
“We don’t pursue volume for its own sake, we prioritize opportunities we know we can execute with confidence and long-term customer value.”
Now, with further growth on the agenda, Feldmann is taking a disciplined approach, working closely with dynamic partners like cloud management firm Bespin Global and looking within its own organization.
“Growth at Neology is paced against our ability to deliver – operationally, technically and culturally,” he stresses. “We don’t pursue volume for its own sake, we prioritize opportunities we know we can execute with confidence and long-term customer value.
“Disciplined growth, proven execution and constant focus on customer outcomes is what allows Neology to scale without compromising the reliability and satisfaction our customers expect.”
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