Via, the TransitTech unicorn, acquires UK's Citymapper
Via, which achieved a $3.5 billion valuation last month after raising $110 million, plans to connect all aspects of a transit system by incorporating Citymapper into its platform. This unified solution aims to benefit cities, transit agencies, and riders alike
Israeli TransitTech company Via has acquired the UK-based journey planning app and transit technology company, Citymapper.
Via, which raised $110 million at a $3.5 billion valuation last month, did not disclose the acquisition cost. By integrating Citymapper into its platform, Via believes it will be able to connect all aspects of a transit system, offering a unified solution for cities, transit agencies, and riders.
Via’s software enables cities and transit agencies to plan and operate their public transit networks efficiently, while Citymapper helps transit riders navigate the urban transport network through intuitive apps. Via CEO and co-founder Daniel Ramot described Citymapper as “the world’s best app for planning transport and purchasing tickets” and said that the acquisition would help Via become a one-stop public transport solution.
Ramot said that companies increasingly understand that they will likely be acquired for a reasonable sum if they cannot reach hundreds of millions in revenue. He noted that all of Citymapper’s employees would join Via. This acquisition follows the purchase of Remix in 2021 and Fleetonomy in 2020, both successful for Via.
Founded in 2012 by Ramot and Oren Shoval, Via optimises networks of buses, shuttles, wheelchair-accessible vehicles, school buses, autonomous vehicles, and electric vehicles worldwide. Its products are used by over 600 communities worldwide to expand access to efficient, equitable, and sustainable public transportation. Via employs around 1,100 people, with half of them based in Israel. The company ended 2022 ahead of plan, with an annualised revenue run-rate surpassing $200 million, doubling since its financing round in 2021.
Citymapper, founded in 2012, has raised $60 million to date and has more than 50 million users in over 100 cities, using a combination of public transit, walking, cycling, scooters, taxis, and other locally available options. Users can plan a trip based on different criteria, and Citymapper’s app will help them select the best option and navigate their travel in real-time. The Citymapper product will be integrated into Via’s TransitTech platform.