Investors approached Via’s IPO cautiously, as shares opened below the $46 IPO price before closing just over $49. Via raised $492.9 million with $328 million from the IPO and $164 million from existing shareholders. CEO Daniel Ramot plans to use funds for growth, sales, marketing, and potential acquisitions.

Via, initially launching in 2012 with Via-branded shuttles for hailing, now focuses on its on-demand routing algorithm powering microtransit for 689 cities and transit agencies. Via aims to use IPO proceeds for growth, sales, marketing, and potential acquisitions, like Remix and Citymapper in 2021 and 2023, respectively.

Via’s revenue increased roughly 30% year-over-year, projecting around $429 million in revenue for 2025. Despite closing the first half of 2025 with $205.7 million in revenue, the company is still in the red, with a smaller loss of $37.5 million compared to the previous year. Ramot anticipates reaching profitability soon.

Ramot believes Via’s growth proves government customers can sustain a lucrative business, emphasizing the technology’s benefit to riders of microtransit and paratransit systems, particularly low-income individuals, people with disabilities, and students. Investors supporting these demographics is a positive sign for the company.

Read more at Yahoo Finance: Via shrugs off tepid open to end first day of trading slightly above IPO price