Via
, a global public transport, logistics, and transit tech company, raised $110 million in a financing round that ended this week.
Investment in the New York City-based company was 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.
The company, founded in 2012, holds a value of $3.5 billion following the investment round at the same price per share as Via’s last financing in November 2021. It intends to use the funding to expand its product suite and further its vision of providing the end-to-end digital infrastructure for public mobility.
Via's transit tech products are used by more than 600 communities around the globe to expand access to efficient, equitable, and sustainable public transportation. The company's technology enables customers to plan transit networks that are responsive and resilient to changing needs, to operate smart multi-modal transportation systems, and to use data to optimize performance.
Co-founder and CEO Daniel Ramot calls the financing a reflection of the power that technology has to transform transit in communities around the world.
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"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,” he says. “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."
The company ended 2022 ahead of plan, with an annualized revenue run rate surpassing $200 million, more than doubling revenues since the previous financing round.
Arnon Dinur, a partner at 83North, praised Via for maintaining rapid growth year over year. "We believe in the company and the category and are delighted to support Via in the future opportunities this funding will bring,” he says.
John Elkann, CEO of Exor N.V., said his company was committed to supporting Via in its next stage of growth. “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,” he says.