Swiftly has successfully raised $13.4 million over three funding rounds, with notable investors including Ford Smart Mobility, Samsung NEXT, Via ID, and RATP Dev. The company specializes in developing enterprise software to enhance urban mobility through improved data for transit agencies and cities.
Keep reading to explore the intricacies of Swiftly's fundraising journey and the investors backing this innovative platform.
What Is Swiftly?
Swiftly, founded by Michael Smith, Will Dayton, and Jonathan Simkin, is based in San Francisco. The company specializes in developing enterprise software to enhance urban mobility through data-driven solutions.
With a team of 51-200 employees, Swiftly's platform is used by over 50 cities across the United States to improve transit system performance, service reliability, and real-time passenger information.
Swiftly's mission is to help transit agencies and cities optimize their operations, benefiting millions of riders daily.
How Much Funding Has Swiftly Raised?
- Seed Round
- Amount Raised: $900,000
- Date: February 2016
- Motivation Behind the Round: To develop initial product offerings and validate market demand.
- Seed Round
- Amount Raised: $2,500,000
- Date: May 2017
- Lead Investors: Via ID (Mobivia)
- Motivation Behind the Round: To support international expansion and develop next-generation technologies for urban mobility.
- Series A Round
- Amount Raised: $10,000,000
- Date: June 2019
- Lead Investors: VIA ID, Aster Capital, Renewal Funds, Wind Capital
- Motivation Behind the Round: To grow its SaaS business, expand to several hundred cities, and improve public transit efficiency.
Total Amount Raised: $13,400,000
Current Valuation: $50,000,000 (~estimated)
Key Investors
- Ford Smart Mobility
- Details: A subsidiary of Ford Motor Company, Ford Smart Mobility focuses on developing smart mobility solutions. It collaborates with Ford’s product development, research, and data analytics teams.
- Investment Focus Areas: Smart mobility solutions, transportation technology.
- Notable Investments: Not specifically mentioned, but focuses on mobility-related ventures.
- Samsung NEXT
- Details: Samsung NEXT is an innovation group within Samsung that partners with startups to build and scale businesses. It leverages the Samsung ecosystem to transform innovative ideas into successful products.
- Investment Focus Areas: Technology startups, innovation in various tech sectors.
- Notable Investments: Not specifically mentioned, but focuses on innovative tech startups.
- Via ID (Mobivia)
- Details: Via ID is a European business fund supporting projects related to new modes of mobility. It acts as an incubator in France and has an office in San Francisco.
- Investment Focus Areas: Urban, shared, connected mobility, Easy Mobility services.
- Notable Investments: Drivy, Heetch, Smoove.
- RATP Dev
- Details: A subsidiary of the RATP group, RATP Dev specializes in public transportation operations and services. It operates in 15 countries across 4 continents.
- Investment Focus Areas: Public transportation, urban mobility solutions.
- Notable Investments: Not specifically mentioned, but involved in various international transport operations.
- Aster Capital
- Details: Aster Capital is a venture capital firm that invests in innovative companies. It focuses on sectors that drive the energy transition and digital transformation.
- Investment Focus Areas: Energy, digital transformation, mobility.
- Notable Investments: Not specifically mentioned, but focuses on innovative companies in energy and digital sectors.
What's Next for Swiftly?
Swiftly is poised to seize significant opportunities by expanding its services to hundreds of cities globally. With a current footprint in over 50 cities, the potential for growth is immense, especially as urban areas increasingly demand real-time transit data and analytics to enhance public transportation efficiency.
To support this expansion, Swiftly may pursue additional funding rounds, leveraging its strong track record and strategic partnerships with industry leaders like Ford Smart Mobility and Samsung NEXT. However, the company will need to navigate challenges such as ensuring data accuracy and integrating with diverse transit systems worldwide.
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