TransLoc, a Durham, N.C.-based provider of transit technology, completed an $8m Series A financing.
The round was co-led by SJF Ventures and Fontinalis Partners, with participation from Marc Benioff’s Efficient Capacity fund, Thomas McMurray and Patient Capital Collaborative (PCC), an impact fund affiliated with Investors’ Circle.
The company will use the funds to accelerate growth.
Led by Doug Kaufman, CEO, TransLoc is a provider of transit technology to over 140 municipal transit agencies and universities throughout the U.S. The company offers a host of innovative transit technology solutions including TransLoc Rider, a mobile app (available in the iOS App Store or on Google Play) to fully integrate transit with other mobility options such as Uber, RealTime, which provides up-to-the second vehicle location information and reporting, Traveler, which provides granular insight into passenger flow information for agency planning and communication, and OnDemand, which allows agencies to offer Uber-like demand-response services.