Via Raises $400M, Valuing Ridesharing Company At $2.25 Billion
31 March 2020 - calcalistech
Israeli-founded company operates transportation services in over 90 locations and more than a dozen countries
Ridesharing company Via Transportation Inc. announced on Monday that it raised $200 million in a Series E round led by Italian holding company Exor. Via did not disclose the full value of the financing round, but according to a person familiar with the matter who spoke to Calcalist on condition of anonymity the round reached $400 million.
The deal values Via at $2.25 billion and as part of the agreement, Noam Ohana, head of Exor's early-stage investment arm Exor Seeds, will join Via's Board of Directors. Founded in 2012 by Israeli entrepreneurs Daniel Ramot and Oren Shoval, Via operates transportation services in over 90 locations and more than a dozen countries, offering various modes of operation in different places, including on-demand shuttles and ridesharing services. To date, the Via platform has provided over 70 million rides around the world.
New investors Shell, Macquarie Capital, and Mori Building also participated in the round, as did existing investors Pitango VC, 83North, Hearst Ventures, Ervington Investments, Planven Ventures, Broadscale Group, and RiverPark Ventures.
"We are honored to partner with John, Noam, and the EXOR team to help cities provide accessible, affordable, and environmentally-friendly transit to their residents," said Via co-founders Shoval and Ramot. "Especially in these difficult times, we greatly value EXOR's commitment to Via's vision of a dynamic, data-driven public mobility system that provides more cost-effective and equitable transport to communities everywhere. During this emergency period, we are proud to apply our technology and operational expertise to assist cities with optimizing transit networks, transporting essential workers, and delivering goods and services to individuals in need."
Commenting on the investment, John Elkann, chairman and CEO of EXOR, said: "At this uniquely challenging moment it is more important than ever to work determinedly for the innovative and sustainable future beyond these difficult days. Partnering with Daniel and Oren and their outstanding team to support the development of their powerful problem-solving technology confirms our strong and positive engagement with them and underlines EXOR's continuing commitment to building great companies for a better tomorrow."
EXOR is one of Europe's largest diversified holding companies controlled by the Agnelli family. With a Net Asset Value of around $26bn as of the end of last year, its portfolio is principally made up of companies in which EXOR is a leading shareholder: PartnerRe, Ferrari, Fiat Chrysler Automobiles, CNH Industrial, Juventus FC and The Economist Group.