Via Transportation IPO: Tech-Enabled Transit Solutions Seek $3.5 Billion Valuation

Via Transportation, a startup that aims to reimagine public transportation, has filed for an IPO with plans to offer 10.7 million shares at a price range of $40-$44, targeting a valuation of up to $3.5 billion. The company, which partners with local governments and public transit agencies to offer transportation solutions, reported a net loss of $90.6 million in 2024, but revenue has grown from $100 million to $337.6 million between 2021 and 2024.

Via Transportation, a New York-based technology company specializing in software solutions for transit operators and public agencies, has announced plans to go public with an initial public offering (IPO) on the New York Stock Exchange (NYSE). The company aims to raise approximately $450 million to $471 million by offering 10.7 million shares at a price range of $40 to $44 per share [1].

The IPO, which is expected to list under the ticker symbol "VIA," is being led by Goldman Sachs and Morgan Stanley as underwriters. The proceeds from the offering will be used to fund market expansion and increased investments in sales and marketing [1]. The IPO comes at a strategic time for the company, as the U.S. IPO market regains strength, buoyed by positive tech earnings reports and anticipation of interest-rate reductions [1].

Via Transportation reported a 27% year-over-year revenue increase in the first half of 2025, reaching $205.8 million, compared to $162.6 million in the prior year. Despite a net loss of $37.5 million in the first half of 2025, the company's losses narrowed significantly from $50.4 million a year earlier [1]. The company's platform offers a range of transportation solutions, including microtransit, school transportation, and paratransit, incorporating tools like scheduling, dispatch, compliance management, booking, and data analytics [1].

The company serves 689 clients across more than 30 countries, with North America accounting for roughly 70% of its revenue and Europe for about 30% [1]. Despite its extensive footprint, Via estimates its market penetration is still only about 1%, against a $545 billion total addressable market—highlighting significant room for growth [1].

The IPO pricing is expected to conclude around the week of September 8, 2025, with the first trading day anticipated to be September 12, 2025 [1]. Wellington Management has expressed interest in acquiring up to $100 million worth of shares in the offering [1].

References:
[1] https://www.ainvest.com/news/transportation-sets-sights-3-5-billion-valuation-nyse-debut-2509/
[2] https://www.renaissancecapital.com/IPO-Center/News/113195/Public-transit-services-platform-Via-Transportation-sets-terms-for-$450-mil
[3] https://www.fastcompany.com/91397334/via-transportation-ipo-stock-listing-date-nears-for-transit-tech-startup