Via, a NYC-based on-demand transit company, is raising $100m in Series C funding.
The company has already closed $70m, with $30m in strategic investment to close in the coming weeks. The funds will bring total investment to $137m.
The round was led by Pitango Growth, with participation from Poalim Capital Markets and C4 Ventures as well as previous investors Ervington Investments (representing Roman Abramovich), Hearst Ventures, and 83North (formerly Greylock IL).
The company intends to use the funds to grow in NYC and Chicago, to expand into new cities and support strategic partnerships to operate the platform in novel environments, such as the collaboration with Mercedes-Benz Research and Development North America currently underway in suburban South Orange County, California.
Founded in 2012 by Daniel Ramot and Oren Shoval, Via operates a dynamic, on-demand public transit network that enables tens of thousands of passengers each day to share their ride with others headed the same way. The algorithms dynamically match passengers with available seats instead of entire vehicles, creating an affordable and convenient bus service, while keeping trip durations similar to a private taxi.
The company operates offices in Tel Aviv and Chicago.