The acquisition will let Citymapper expand to a larger audience and make its technology available to cities and transit agencies, its founder and Chief Executive Officer Azmat Yusuf said in a statement. The company, which develops software for cities to help commuters find and use public transit, is well-placed to tap into the billions of dollars of investment into public infrastructure promised by US President Joe Biden’s infrastructure plans. Via, meanwhile, bucked a tough market to raise $110 million at a $3.5 billion valuation last month, in a round led by London-based venture capital firm 83North, Bloomberg reported. Its previous investors included Index Ventures, Balderton Capital, Benchmark Capital, Connect Ventures and LocalGlobe, according to its website. The same year, it launched a crowdfunding campaign. In 2021, per the most recent accounts available in British filings, Citymapper lost £7.4 million ($8.9 million) on revenue of £5.1 million, though that’s while cities were still in and out of coronavirus lockdowns and people traveled less. Terms were not disclosed.Ĭitymapper has struggled to make money for years. More than 50 million users across 100 cities have used the app, Via said in a statement Thursday. Stocks Roiled by Fed Day’s Nerve-Wracking Rhetoric: Markets Wrapįed Caught Between Inflation and Bank Crisisįounded in 2012, British app maker Citymapper has built a devoted following for its cleverly designed interface and deep integration into real-time urban transport systems. has acquired popular navigation app Citymapper Ltd.įinally, a Serious Offer to Take Putin Off Russia’s Handsīomb Threat Called In to New York Court Where Trump Hearing HeldĪ New Chapter of Capitalism Emerges From the Banking Crisis (Bloomberg) - New York-based software technology startup Via Transportation Inc.
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