TransitTech Via company raises $ 130 million for a valuation of $ 3.3 billion

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Israel’s TransitTech Via on Tuesday announced the completion of a $ 130 million Series G funding round at a post-currency valuation of $ 3.3 billion. The round was led by Janus Henderson with participation from Blackrock Innovation and Growth Fund, ION Crossover Partners, Koch Disruptive Technologies and existing investor Exor. The company’s previous funding round in March 2020 was $ 400 million at a valuation of $ 2.2 billion. The company also raised $ 60 million led by 83North at a valuation of $ 2.7 billion between rounds of financing. Via has raised $ 780 million to date.

This latest round is part of the company’s preparations for its IPO, with most new investors being long-term players with the goal of being part of a future IPO. All proceeds from the G-Series cycle will enter Via’s coffers, but the company is expected to embark on a secondary fundraising round in the near future.

Via co-founders Daniel Ramot (left) and Oren Shoval. Photo: courtesy

“We are in a period of very significant growth with strong demand for our product,” Via co-founder and CTO Oren Shoval told Calcalist. “We are expanding into many markets and are also seeing strong investor demand, which will allow us to grow even faster.

“The transportation industry is huge and there won’t be a single company that dominates it. But in our real-time public transport management industry, I currently don’t see any real competition for us. We have over 50% of the market in which we operate, ”added Shoval.

Founded in 2012 by CEO Daniel Ramot and Shoval, Via employs around 400 people at its R&D center in Israel, out of the 1,000 people it employs worldwide. Via provides its intelligent public transport solution to more than 500 partners in more than 35 countries. Via and ViaVan cooperate with public transport providers, private transport companies, taxi fleets, company shuttles, and school and university transport services. In Israel, it is available through the Bubble Dan service in the Tel Aviv area.

With demand for software that can upgrade existing transportation systems to advanced digital networks growing rapidly around the world, Via TransitTech’s revenue more than doubled year-over-year to exceed an annual run rate of $ 100 million. The company’s total annual sales are estimated to be in the hundreds of millions of dollars.

“This is the most exciting time in transportation for decades,” said Ramot and Shoval, co-founders of Via. “Cities around the world recognize the essential role that technology can play in improving the efficiency and quality of their transit systems. Our software provides an end-to-end solution that helps cities and government agencies plan, operate and optimize every facet of their transportation system.

The TransitTech global category is expected to reach approximately $ 1.35 trillion by 2025, according to a recent BCG study, highlighting the critical role that public transit plays in economic development, equity and sustainability. In the United States, the recently passed bipartite infrastructure accord will see unprecedented $ 91 billion per year in new and re-authorized funding secured for public transit over the next five years. This follows the nearly $ 70 billion in federal Covid-19 relief funding already provided to meet short-term transit needs. Most of the funds made available through these programs go towards innovative mobility solutions that improve the efficiency of transport networks, expand access to underserved communities, and tackle reducing carbon emissions and energy. congestion.

Via the acquisition of mapping software maker Remix in a $ 100 million cash and stock deal in March of this year.

“When we look at the transit market today, we see huge opportunities,” said Denny Fish, portfolio manager at Janus. “We have seen time and time again how traditional industries are transformed by the introduction of technology: FinTech, HealthTech, EdTech and others have resulted in extraordinary improvements in performance and efficiency. TransitTech is next, and having created this category, Via is uniquely positioned to lead it. The company’s mission to expand access to efficient, affordable and sustainable transportation is inspiring.


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