Via Transportation Inc., a provider of on-demand shuttle operator software, acquired Remix, a road planning software company, on Wednesday for $100 million.
This is Via’s second acquisition, after buying fleet management software provider Fleetonomy for an undisclosed amount in September.
Via was valued at $2.25 billion last year after a $200 million Series E round led by EXOR (BIT:EXO). Other active investors include RiverPark Ventures, 83North, Hearst Ventures and Pitango Venture Capital.
Remix will become a subsidiary of Via, with co-founders CEO Tiffany Chu and CTO Dan Getelman staying on to lead the company they created for a Code for America hackathon in 2014. The transportation planning tool for the San Francisco Municipal Transportation Agency was shared on Twitter and went viral within weeks. The platform’s users created 30,000 maps, including 200 urban planners requesting added features to meet their needs.
Remix went on to raise $27 million from Y Combinator, a startup accelerator, Sequoia Capital and Energy Impact Partners. With these funds, the company expanded into 22 countries across five continents, providing the software to city transportation planners in more than 350 local governments.
Via’s Ramot and Shoval said in a press release, “We share a vision for working alongside our partners to create transit systems that are equitable, accessible and efficient for riders and cities alike. Together we have ambitious plans to invest in and expand the Remix product suite to offer enhanced capabilities for planning and bus scheduling and operations.”
Via plans to use the partnership to improve its TransitTech, which supports 24 countries and is intended to expand into new markets to improve public transportation and infrastructure.
“It used to be that demographic shifts would happen over many years and public transportation would adapt over time. Now things are moving so quickly due to the pandemic,” Ramot said in an interview with The Wall Street Journal. “Maybe a city would change its transportation plan every 20 years and now, thanks to data and algorithms, that can be done much more quickly.”
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