Via, a New York-based on-demand transit company, closed a $27m Series B funding.
The round was led by Pitango Venture Capital, with participation from Hearst Ventures, Ervington Investments, representing Russian businessman Roman Abramovich; and previous investor 83North (formerly Greylock IL). In conjunction with the funding, Chemi Peres, a managing general partner and co-founder of Pitango VC, joined Via’s board of directors.
The company, which has raised total investment to $37m, intends to use the funds to exand into new markets, accelerate product growth and development, and hiring in key areas.
Led by Daniel Ramot and Oren Shoval, Via has developed a mobile app that leverages proprietary algorithm to connect multiple passengers who are headed the same way, allowing riders to share a chauffeured, premium vehicle at affordable rates – currently $5 (if prepaid) or $7 (for a single ride).
First launched in New York City in September, 2013, Via currently provides New Yorkers with tens of thousands of rides per week and has provided over 300,000 shared rides in total. 40,000 members have signed up for the service. All drivers—now more than 500 — are TLC licensed and drive premium vans or SUVs.
The company also operates offices in Tel Aviv.