Global TransitTech Provider Via Focuses on High-Impact Software for Public Mobility
Via, the global leader in TransitTech, has announced that the company will focus on its TransitTech business and stop providing direct-to-consumer, on-demand shared rides. This moment reflects the realization of Via’s multi-year strategy to drive global adoption of software for public transportation. The announcement comes on the heels of a Series G funding round in November that valued the company at $3.3 billion, based in large part on its TransitTech software business.
Via launched the first marketplace for on-demand shared rides in NYC in 2013. The experience as operator of a large-scale on-demand transit service, and as primary user of its own software, along with the data from tens of millions of rides, were critical for developing the algorithms and technology stack that are the foundation of the Via software platform.
In parallel, Via grew relationships with public mobility providers — cities, transit agencies, school districts, and paratransit operators — to offer technology-enabled shared transportation that improves efficiency and quality of service. Via’s track record as an operator, along with the company’s familiarity with the day-to-day challenges faced by its public transit partners, helped build trust and drive growth. Today, Via has more than 500 partnerships in over 35 countries and a thriving TransitTech business that has surpassed an annual revenue run rate of $100M.
The adoption of TransitTech has been accelerated by a number of factors:
“We are incredibly proud that adoption of TransitTech solutions has become mainstream. Now more than ever it’s critical that we focus on the part of our business that creates the most benefit for the most people. TransitTech is good for communities, good for the environment, and good business. New York will always be our home, and we are thrilled to be a growing, mission-driven company that is part of the city’s technology landscape.”
Via serves communities across the US and around the world with its TransitTech solutions, including:
Via’s last day of service for individual riders in NYC and DC will be on December 20th. To support the driver community, the company is offering its NY-based driver partners a range of work opportunities, including to drive with Via TransitTech partnerships in the area and referring them to MTA access-a-ride programs. In Washington DC, Via has a number of existing partnerships with the DC government that the company is working to continue to support.
This article was originally published by Via Transportation, Inc..
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