Via, the company that provides digital infrastructure to power public mobility in cities around the world, announces today that it has raised a Series E financing led by EXOR. The financing values the company at $2.25B and will enable Via to advance its vision of efficient, accessible, and equitable public mobility.
Via's technology powers the next generation of public transportation, helping cities move beyond a system of rigid routes and schedules to a fully dynamic network. Via's algorithm efficiently combines, in real time, multiple passengers or packages headed in the same direction, significantly reducing urban congestion and emissions while providing a high quality and lower cost mobility service. Available in more than 70 cities in 20 countries, and growing rapidly, Via is the world's leading provider of technology-enabled public mobility solutions. To date, the Via platform has provided over 70 million rides around the world. Via's success has been achieved by working closely with its more than 100 partners across municipalities, public transit agencies, transportation operators, major corporations, schools, and universities to optimize their transport systems.
Building on its deep understanding of transit networks, ability to provide efficient on-demand and pre-scheduled transport, and highly modular platform, Via is actively supporting cities during this critical time, helping partners provide emergency transit of goods as well as essential personnel. Via's emergency services and transit network optimization expertise are being utilized across the world in locations as diverse as Berlin, Ohio, and Malta, to support communities impacted by COVID-19.
Leading Via's Series E financing, EXOR will invest $200M in the company, and Noam Ohana ?— head of EXOR Seeds, the early stage investment arm of EXOR — will join Via's Board of Directors. New investors Shell, Macquarie Capital, and Mori Building also participated in the round, as did existing investors Pitango, 83North, Hearst Ventures, Ervington Investments, Planven Ventures, Broadscale Group, and RiverPark Ventures.
Via Co-founders Oren Shoval and Daniel Ramot said, "We are honored to partner with John, Noam, and the EXOR team to help cities provide accessible, affordable, and environmentally-friendly transit to their residents. Especially in these difficult times, we greatly value EXOR's commitment to Via's vision of a dynamic, data-driven public mobility system that provides more cost-effective and equitable transport to communities everywhere. During this emergency period, we are proud to apply our technology and operational expertise to assist cities with optimizing transit networks, transporting essential workers, and delivering goods and services to individuals in need."
Commenting on the investment, John Elkann, Chairman and Chief Executive Officer of EXOR said: "At this uniquely challenging moment it is more important than ever to work determinedly for the innovative and sustainable future beyond these difficult days. Partnering with Daniel and Oren and their outstanding team to support the development of their powerful problem-solving technology confirms our strong and positive engagement with them and underlines EXOR's continuing commitment to building great companies for a better tomorrow."
Via is reimagining how the world moves, from a system of rigid routes and schedules to fully dynamic networks. Via's mobile app connects multiple passengers who are headed the same way, allowing riders to seamlessly share a premium vehicle. First launched in New York City in 2013, Via's technology is now deployed globally, including in Europe as ViaVan. Today Via and ViaVan partner with over 100 public transportation agencies, private transit operators, taxi fleets, private companies, school districts, and universities, seamlessly integrating with transportation infrastructure to power cutting-edge mobility. For more information, visit ridewithvia.com.
EXOR is one of Europe's largest diversified holding companies controlled by the Agnelli family. For over a century, EXOR has made successful investments and built great companies worldwide with a culture that combines entrepreneurial spirit and financial discipline. With a Net Asset Value of around $26bn as at 31st December 2019, its portfolio is principally made up of companies in which EXOR is a leading shareholder: PartnerRe, Ferrari, Fiat Chrysler Automobiles, CNH Industrial, Juventus FC and The Economist Group.