- Via announced it has raised $110 million in funding. These are the details.
Via – a global leader in TransitTech – announced it has closed a financing round led by 83North, with participation from new and existing investors including Exor N.V., Pitango, Janus Henderson, CF Private Equity, Planven Entrepreneur Ventures, Riverpark Ventures, and ION Crossover Partners. This funding round values Via at $3.5 billion, at the same price per share as the company’s previous financing in November of 2021. Via plans to use the funding to expand its product suite and further its vision of providing end-to-end digital infrastructure for public mobility.
The funding comes on the heels of a year of strong performance for Via as cities and transit agencies across the globe increasingly turned to digital solutions to improve the efficiency of their transportation systems. The company had ended 2022 ahead of plan with annualized revenue run-rate surpassing $200 million, more than doubling since the previous financing round.
Via’s TransitTech products are used by over 600 communities around the globe to expand access to efficient, equitable, and sustainable public transportation. And the company’s technology enables customers to plan transit networks that are responsive and resilient to rapidly change needs to operate smart multi-modal transportation systems, and to use data to optimize performance — all in one software platform.
In support of its vision to be the operating system for every aspect of public mobility, Via also plans to use the funding to accelerate expansion into new markets and verticals, and to continue to invest in product innovation.
KEY QUOTES:
“We have known Daniel, Oren, and the Via team for many years now. Their ability to maintain rapid growth year over year, and to continue to innovate and deliver for their customers is unique. We believe in the company and the category, and are delighted to support Via in the future opportunities this funding will bring.”
— Arnon Dinur, Partner at 83North
“Via is a rare combination of a company that has a profound impact on the communities it serves while also generating attractive unit economics at scale. Daniel and his team are building a great company and as a major shareholder we are committed to supporting the company in this next stage of growth.”
— John Elkann, CEO of Exor N.V.
“This financing is an exciting milestone for Via and a reflection of the power that technology has to transform transit in communities around the world. Access to transit improves health, education, and economic outcomes, and all of us at Via are inspired every day to see the positive impact our customers have achieved by adding technology to their transit networks. The growth of the TransitTech market in recent years has been truly remarkable, and we are proud of the contributions we have made to create and expand the category.”
— Via co-founder and CEO Daniel Ramot
