CPE Media News – pcJournal (11/5/2018) – Transit App has secured $17.5 million in Series B funding led by Alliance Ventures, a joint investment arm of Renault-Nissan-Mitsubishi, with participation of InMotion Ventures, Accel, and Real Ventures.
Christian Noske from Alliance will be joining our board.
Founded by Sam Vermette and Guillaume Campagna in 2013, the numbered Quebec company secured seed funding from Real Ventures in 2015 and closed a $5 million Series A led by Accel Partners with pariticpation of Accomplice, Real Ventures and BDC Capital.
Transit App partners with transit agencies and shared mobility providers to get cities moving.
photo credit: Transit App
Transit Series B: we’ve raised $17.5M to build the Switzerland of mobility
From subways to scooters, our app Transit is the open, neutral alternative to “walled garden” transport apps.
Tonight we’re painting the town green. We have a mighty good reason. We’re living in the golden age of urban transport — and our company Transit just raised $17.5M to be its platform.
First off, formalities. Our lead investor is Alliance Ventures, a joint investment arm of Renault-Nissan-Mitsubishi. Christian Noske from Alliance will be joining our board. Christian, you’ve been following Transit since our company was an itty-bitty startup. We’re thrilled to (literally) have you on board. Joining Alliance are the folks at InMotion Ventures, along with some of our past investors: Accel and Real Ventures.
Second off, woah. $17.5M is a lot of money. It will let us double-down on all the projects we’ve been working so hard on: adding deeper integrations to make car-free transport more discoverable, expanding those integrations to more and more services, pushing for more cooperation between modes, and continuing to be the trusted rider platform for our transit agency partners. Maybe we’ll write more posts on Medium, too. Maybe we have a big announcement coming next week. Maybe it will blow your mind. Maybe…
Who are these punks?
Over the last six years Transit has built the best platform for getting from a-to-b without your own car. We started by tackling a simple problem: making it easier to check departure times for buses and trains. Since then, we’ve expanded to 175+ cities, added myriad features, and helped millions of daily users complete billions of trips.
We’ve also expanded Transit’s scope to tackle a much bigger problem:
Can we make car ownership in cities obsolete?
Bus schedules weren’t the answer. But they were a start. While better transit info is proven to boost ridership, it still doesn’t improve transit service on the ground. Which explains why you’ve seen Transit launching so many new partnerships with the people in charge of transit service. We’re now the endorsed app of some of North America’s leading agencies: from Boston to Silicon Valley, Montreal to Baltimore, and dozens of others worldwide.
Transit isn’t just an app anymore.
It’s the one that has cities behind it.
Mobility Gone Wild
It took decades for carsharing to truly catch on. Years for bikesharing. Months for ridehailing. Meanwhile, in 2018, billion dollar e-bike and scooter companies were being minted in weeks. It’s the Wild Wild West out there.
But it’s not just California this time.
It’s the world.
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