Israeli public transport software solutions company Via today announced that it has acquired UK-based journey planning app and transit technology company Citymapper. No financial details were disclosed but "Techcrunch" reported that it was for well below $100 million.
Via said that buying Citymapper accelerates its vision of building an end-to-end digital infrastructure for transit systems. Via’s software enables cities and transit agencies to efficiently plan and operate their public transit networks, while Citymapper allows public transport users to navigate the urban transport network through well designed apps. By integrating Citymapper into its platform, Via will be able to connect all elements of a transit system, offering a unified solution for cities, transit agencies, and riders.
Founded in 2012, Citymapper 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 the criteria transit mode, arrival time, trip duration, cost, etc.
Via cofounder and CEO Daniel Ramot said, "We have the utmost respect for the world-class product and user experience that Azmat and his team have built. By bringing our teams together, we see an exciting opportunity to deliver Citymapper’s capabilities to cities and transit agencies all over the world, so that they can create the most user-friendly and relevant transit experience for their communities."
Citymapper founder and CEO Azmat Yusuf added, "The team at Citymapper has spent a decade building some of the greatest technology in urban mobility, with the mission to make cities easier to navigate and urban transportation more efficient, sustainable, and accessible. We share this vision with Via, and through this acquisition, can expand Citymapper to a larger audience, make our technology available to cities and transit agencies, and extend the positive impact on the communities we serve."
Via was founded in 2012 Ramot and CTO Oren Shoval. Via’s products are used by more than 600 communities in 35 countries to expand access to efficient, equitable, and sustainable public transport. The company’s technology enables customers to plan transport networks that are responsive and resilient to rapidly changing needs, to operate smart multi-modal transportation systems, and to use data to optimize performance with a single software platform.
Last month Via raised $110 million at a company valuation of $3.5 billion. Via acquired Remix in 2021 and Fleetonomy in 2020.
Published by Globes, Israel business news - en.globes.co.il - on March 19, 2023.
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