The acquisition bolsters Via's ability to meet rapidly growing demand for its innovative technology for logistics and last-mile goods delivery
TEL AVIV, Israel, Oct. 5, 2020 /PRNewswire/ -- Via, the world's preeminent provider of digital infrastructure for public mobility systems, announces today that it has acquired Fleetonomy, a leading developer of advanced fleet management software. The acquisition accelerates Via's expansion beyond public transit and strengthens its ability to meet increasing global demand for efficient, flexible solutions for logistics and delivery. Following its Series E financing led by Exor in March at a $2.25B valuation, the transaction represents an important step towards realizing Via's vision of using technology to shape the future of transportation of people and goods in cities around the world.
Fleetonomy was founded in 2017 by CEO Israel Duanis and CTO Lior Gerenstein, with the vision of building the next generation of fleet management and optimization platforms, suitable for the challenges and opportunities that came with the shift to fleet-based on-demand services. In a few short years, the company partnered with a roster of notable brands ranging from Toyota to BP, asserting itself as the gold standard in fleet management technology.
Via's technology is currently used by more than 150 cities and transit operators across the globe to power intelligent transit and, increasingly, delivery platforms. The need for essential transit services and goods delivery has continued to grow during the pandemic, and Via plans to apply Fleetonomy's technology and expertise in demand prediction and fleet utilization to advance its digitally-powered logistics solutions.
"As we continue to build the next generation of public transportation and delivery infrastructure, we are proud to partner with Fleetonomy to step into this new phase of growth," said Via Co-Founders Daniel Ramot and Oren Shoval. "We have been consistently impressed by Israel, Lior, and the entire Fleetonomy team, and by the beautifully-designed and exceptionally-engineered products they have created. We share a vision for the future of mobility and look forward to realizing this vision together."
"Today is a very exciting milestone for our company," said Israel Duanis, CEO and co-founder of Fleetonomy. "When Lior and I founded Fleetonomy three years ago, we had a very big mission in mind — to provide a new way of managing fleet based services. We believe that providing a data-driven, efficient, and reliable suite of solutions will help our customers become leaders of the on demand economy. In the past three years, with the incredible Fleetonomy team and partners along the way, we've been very lucky to see this mission turn to reality with customers such as Toyota, Jaguar Land Rover, Audi, and other top players in the mobility space. By joining Via, we will be able to expand and extend this mission and work together on Via's great vision of changing the landscape of transportation."
Building on its deep understanding of transit networks, its ability to provide efficient on-demand and pre-scheduled transport, and its highly modular platform, Via is actively supporting municipalities, transit agencies, schools, and non-profit organizations to move beyond a system of rigid routes and schedules to a fully dynamic, data-driven network. In Israel, Fleetnomy's home base, Via is the technology provider for on-demand shared rides services Bubble in Tel Aviv and TikTak in Jerusalem, and operates a dynamic school bus system in Misgav.
About Via:Founded in 2012, Via pioneered the TransitTech category by using new technologies to power public mobility systems, optimizing networks of dynamic shuttles, buses, wheelchair accessible vehicles, school buses, and autonomous vehicles around the globe. Building the world's most efficient, equitable, and sustainable transportation network for all riders — including those with limited mobility, those without smartphones, and unbanked populations — Via works with its partners to lower the cost of public transit and provide accessible options that rival the convenience of a personal car at a much reduced environmental impact. At the intersection of transportation and technology, Via is a visionary market leader that combines software innovation with sophisticated service design and operational expertise to fundamentally improve the way the world moves, with 150 global partners on six continents, and counting.