Via Transportation, which provides local governments with a platform for rideshare and transit services, raised $493 million by offering 10.7 million shares (33% secondary) at $46, above the range of $40 to $44. At pricing, the company commands a fully diluted market value of $4.2 billion.
Via develops technology for public transit agencies and operators to plan, manage, and optimize services such as microtransit, school transport, and paratransit. Its platform combines scheduling, dispatch, compliance, passenger booking, and data analytics, with optional services like fleet procurement and call center support. Via serves 689 customers in over 30 countries in North America (70% of revenue) and Europe (30%), mostly government agencies (>90% of revenue), including transit services in Sarasota, Florida, and Raleigh, North Carolina. The company believes it has reached about 1% of its estimated $545 billion addressable market.
Via Transportation plans to list on the NYSE under the symbol VIA. Goldman Sachs, Morgan Stanley, Allen & Company, Wells Fargo Securities, Deutsche Bank, Guggenheim Securities, Citizens JMP, Needham & Co., Oppenheimer & Co., Raymond James, William Blair, Nomura Securities, and WR Securities acted as joint bookrunners on the deal.
