Investors took a cautious approach to the transit software startup’s IPO on Friday, with shares opening below the company’s IPO price before recovering slightly higher at the end of the day.
The company, which initially filed for an IPO confidentially in July, priced its IPO at $46 per share, raising $492.9 million. That fell to $44 when the stock began trading Friday afternoon, before returning to the green to close just above $49. A modest gain, the stock valued at about $3.9 billion at the end of its first day of trading.
Via’s IPO raised about $328 million, while existing shareholders sold another $164 million worth of stock, bringing the total deal size to nearly $493 million.
“We are extremely pleased with today’s IPO result, and we believe it is a testament to the value and resilience of the company,” said CEO Damiel Ramot. “We are grateful for the feedback and support from our team, partners and investors who made this milestone possible.”
Originally launched in 2012, it deployed a brand-name ride-hailing service that users could hail. Over time, it refined its routing algorithm, which uses real-time data to route microtransit trains to where they’re needed most. Now, the technology is its core business, selling to 689 cities and transit agencies to power their microtransit.
Ramot told TechCrunch that the company will use the proceeds to invest in growth, sales and marketing. And maybe even acquisitions in the future.
“We don’t necessarily want to raise funds to run operations,” Ramot said. “We may have the opportunity to use the proceeds and public equity currency to make some interesting acquisitions, like we did with Remix and CityMapper.”
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By acquiring Remix for bus scheduling in 2021, and CityMapper for trip planning in 2023. Ramot said he is open to other complementary purchases rather than an acquisition to gain market share.
Through revenue has increased by about 30% year-over-year. The company told TechCrunch that it expects to generate about $429 million in revenue in 2025, a forecast based on quarterly revenue timing in the fourth quarter.
It ended the first six months of 2025 with $205.7 million in revenue. But the company is still in the red, even though those losses are shrinking. The first six months of 2025 ended with a loss of $37.5 million, down from $50.4 million the year before.
Ramot said Via is close to profitability but declined to provide specific forecasts.
The CEO says that through growth, there is proof that government clients can sustain a profitable business.
“Most publicly traded tech companies aren’t specifically focused on this sector, helping local governments,” he said, adding that the technology, through Via, primarily benefits microtransit and paratransit systems, people who rely on buses to get around.
“Low-income people, people with disabilities, students – these are demographics that we typically support,” he said. “It’s really nice to see investors actually supporting this.”
