NYC-based transit tech company Via announced Monday it raised $110 million in a funding round that valued the business at $3.5 billion.
Via was founded in 2012 as a ridesharing service that allowed users to order shuttle vans with a smartphone app. Since then, it has transitioned to a software company that helps cities optimize their public transit operations, create transportation programs for people with limited mobility and incorporate electric and autonomous vehicles into their transit programs. Via’s technology is used in 600 communities across 35 countries.
Via said its new $3.5 billion valuation is the same price per share as its last funding round in November 2021, when it raised a $130 million Series G round at a $3.3 billion valuation. The company has more than doubled its annualized revenue run rate since then, surpassing $200 million last year.
Via plans to use the additional funding to expand into new markets and verticals while investing in platform enhancements. The company will also grow its global team of 1,100 employees. The company’s career page lists 33 NYC-based openings across partnerships, partner success, engineering and product.
“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,” Via co-founder and CEO Daniel Ramot said in a statement. “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 transit tech market in recent years has been truly remarkable, and we are proud of the contributions we have made to create and expand the category.”
