Via, the global leader in TransitTech, announced $130 million in new financing at a total valuation of $3.3 billion. The round was led by Janus Hendersonwith participation from funds and accounts managed by BlackRock, ION Crossover Partners, Koch Disruptive Technologies and existing investor Exor.
The demand for software that can transform legacy transportation systems into advanced digital networks has grown rapidly worldwide. As a result, Via experienced strong growth, with TransitTech revenues more than doubling year-over-year to exceed an annual run rate of $100 million, further solidifying Via’s leadership role in the TransitTech industry.
“This is the most exciting time for transportation in decades,” said Daniel Ramot and Oren Shoval , co-founders of Via. “Cities around the world are aware of the critical role technology can play in improving the efficiency and quality of their transportation networks. Our software provides a total solution that helps cities and government agencies plan, operate and optimize every facet of their transportation system.”
“Looking at the public transportation market today, we see tremendous opportunities,” said Denny Fish , portfolio manager at Janus. “Time and again we have seen how traditional sectors are being transformed by the introduction of technology: FinTech, HealthTech, EdTech and others have delivered extraordinary improvements in performance and efficiency. TransitTech is now next and by creating this category, Via in a unique position to lead it. The company’s mission to expand access to efficient, affordable and sustainable transportation is inspiring.”
“Via’s platform is transformative for our community,” said Caroline Rodriguez , executive director of High Valley Transit in Utah . “By merging our regular, on-demand and transit operations, we can provide our passengers with a better travel experience while achieving significant efficiencies. The flexibility this technology allows us to extend access to jobs, education, healthcare and other essential services for our community and to reduce reliance on commercial vehicles.”
Via plans to use the funding to accelerate its expansion into new markets, continue to recruit exceptional talent and increase its own investments in product innovation.
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