The Via funding round comes amidst a very tough fundraising environment.

Via, a TransitTech leader, has closed a $110 million financing round led by 83North and other investors, valuing the company at $3.5 billion.

New and existing investors including Exor N.V., Pitango, Janus Henderson, CF Private Equity, Planven Entrepreneur Ventures, Riverpark Ventures, and ION Crossover Partners also participated. (VIA)

The company previously raised a $130 million Series G in November 2021 at a $3.3 billion valuation, according to Bloomberg. Cumulatively, it has raised about $900 million.

The funding will be used to expand the product suite and support the vision of providing end-to-end digital infrastructure for public mobility.

Founded in 2012, Via is pioneering new technologies to optimize public mobility systems, including networks of various vehicles globally. They work with partners to provide equitable, efficient, and sustainable transportation networks for all riders, including those with limited mobility, no smartphones, and unbanked populations.

Via operates in over 35 countries, providing technology to over 600 communities. They combine software innovation, service design, and operational expertise to improve transportation, ultimately reducing environmental impact.

The funding comes after a successful year, with annualized revenue run-rate exceeding $200M, and the company plans to expand into new markets and verticals and invest in product innovation.

“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,” said co-founder and CEO Daniel Ramot. “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.”

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