Transit software startup Via made its public market debut on Friday, raising nearly $493 million in its initial public offering. While investors initially approached the IPO cautiously, shares quickly found stability by the end of the trading day.
Via priced its shares at $46 each, raising $492.9 million. Trading opened below that level at $44 per share, but the stock later recovered, closing slightly above $49. That finish gave Via a market valuation of roughly $3.9 billion.
The IPO raised about $328 million directly for Via, with existing shareholders selling an additional $164 million worth of stock. CEO Daniel Ramot called the debut a success, saying, “We’re extremely pleased with the result of today’s IPO… it is a testament to the value and durability of the company.”
Founded in 2012, Via began with branded microtransit shuttles before pivoting to sell its real-time routing software to cities and transit agencies. Today, its technology powers microtransit in 689 cities worldwide.
Ramot told TechCrunch the IPO proceeds will go toward growth, sales, marketing, and possibly acquisitions. Via has a track record of strategic buys, including Remix (2021) for bus planning and Citymapper (2023) for journey planning.
Financially, Via reported $205.7 million in revenue for the first half of 2025, up 30% year-over-year. The company expects to generate around $429 million in revenue for the year, though it remains unprofitable with a $37.5 million loss in H1, narrower than the $50.4 million loss in the same period last year.
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Despite the red ink, Ramot said Via is close to profitability, emphasizing its role in supporting government transit systems and riders who rely on microtransit and paratransit. “Low-income people, people with disabilities, students, those are the demographics we typically support,” he noted. “It’s really nice to see investors actually support that.”
