Transit Raises $17.5M in Series B Funding

transitAccording to a blog post, Transit, a Montreal, Canada-based provider of a multi-modal transportation mobile app, raised $17.5m in series B round of funding.

The round was led by Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, with participation from
– Accel;
– Jaguar Land Rover’s InMotion Ventures; and
– Real Ventures.

In conjunction with the funding, Christian Noske from Alliance will be joining the board.

The company intends to use the funds to add deeper integrations and expand adoption of its platform.

Led by Sam Vermette, CEO, Transit provides a mobile app that aggregates and maps real-time transportation data, which is functional in more than 175 metropolitan areas around the world.
The company’s mobile app platform enables multi-modal transportation, integrating public transit, ride-hailing, bike-sharing, and scooter-sharing. By combining real-time data from transit agencies with user crowdsourcing, it provides the most accurate information. Users enable GO, a function to get real-time notifications for their ride. The system then tracks the real-time location of the vehicle and notifies the user when to leave for their stop, when to disembark, and sends adjusted ETAs.



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