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Via, a transit software company, has filed confidentially for an initial public offering in the U.S., it said on Wednesday.
The company aims to help cities and agencies better traverse the changing world of transportation. Specifically, its software provides insights backed by data so transit systems can be optimized even as riders continue to change the way they travel.
The company’s TransitTech products are used by several hundred communities around the globe.
Founded in 2012, New York-based Via has raised nearly $890 million in funding, per Crunchbase data. Its last known raise was a $110 million round in February 2023 that valued the company at just over $3.5 billion. Investors include 83North, Exor, Pitango VC, Planven Entrepreneur Ventures, Janus Henderson Investors, CF Private Equity, RiverPark Ventures and Ion Crossover Partners.
Via ended 2022 with an annualized revenue run rate of over $200 million, more than doubling since its previous financing round — a $130 million Series G in November 2021. Its revenue is today believed to be in the several hundred million dollars range.
It’s not the first time Via filed to go public. In December 2021, the company had also filed confidentially for an IPO before later withdrawing those plans due to economic conditions.
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