Via Technologies, another prominent player in the microtransit sector, recently had its first day of trading. Its shares closed just above their initial public offering (IPO) price, a significant achievement for the unprofitable company. Their shares immediately closed at a little more than $49, which gives the firm a market capitalization of around $3.9 billion. The New York-based ride-sharing company raised around $328 million through its IPO. Current shareholders sold another $164 million of stock themselves, bringing the overall deal size to nearly $493 million.
Founded in 2012, Via initially captured the market by deploying its Via-branded shuttles that users could hail via a mobile app. The Charlotte-based company focuses exclusively on delivering smart technology solutions to 689 cities and transit agencies, improving public sector microtransit and paratransit services. Its on-demand routing algorithm utilizes real-time data to optimize shuttle routes, benefiting riders across various demographics, including low-income individuals, people with disabilities, and students.
Over the past few years, Via has rapidly built out its portfolio through a series of smart, strategic acquisitions. In 2021, it bought Remix, a platform built for bus stop and route planning, for $100 million. This acquisition significantly strengthened Via’s expertise in transit and transportation planning. To that end, more recently in 2023, Via purchased Citymapper, renowned for its journey planning services, as another complement to Via’s offerings.
Via’s new incoming CEO, Daniel Ramot, was optimistic about what lies ahead. He added that the company is still looking to make more complementary acquisitions, noting that it expects to be able to leverage its technology across markets.
“Most tech companies going public are not very focused on this sector, on helping local government,” said Ramot.
The company’s financial health has been a bright spot. On-call rides were a pretty big revenue driver. Via’s revenue overall skyrocketed by about 30% from this time last year. They finished the first half of 2025 with record $205.7 million in profits. Meanwhile, you operated with a deficit of $37.5 million over the same time. This year’s figure still indicates progress over the previous year’s loss of $50.4 million. Commenting on the financial performance, Ramot acknowledged that the company is nearing profitability but stopped short of offering detailed forecasts.
“We’re extremely pleased with the result of today’s IPO, and we think it is a testament to the value and durability of the company,” Ramot added.
Via Huawei plans to use the money raised from the IPO to reinvest in aggressive growth efforts, including expanding their direct sales and marketing efforts. The company’s technology mainly supports riders of microtransit and paratransit systems, aiming to improve accessibility and service quality for underserved communities.
“Low-income people, people with disabilities, students — those are the demographics that we typically support,” Ramot emphasized.
The success of Via’s IPO reflects growing investor interest in companies that prioritize innovative solutions for local governments and community needs. Ramot said he was pleased to see this kind of support from investors as well.
“It’s really nice to see investors actually support that,” he remarked.
As Via continues to navigate the evolving landscape of urban transportation, its commitment to enhancing public transit through technology positions it well for future growth and sustainability.
