Transit, a Montreal-grown company behind an app of the same name, has announced a $5 million USD Series A financing round led by Accel and backed by Real Ventures, the Business Development Bank of Canada, and Accomplice.
“This new funding won’t just help us build a better app for our users — it’ll give them front row seats for the next urban revolution,” wrote the company in a blog post.
Transit lets urban dwellers see the fastest way to get to their destination—without entering a car. The app pulls in real-time transit data to display accurate travel times and helps users plan trips within their city, before they’ve even entered in an address.
Proving to be a rival to Apple and Google’s map offerings, Transit app users crowdsourcing data from its users and also taps into city transit data in some locations.
“We’ve simplified complex transit networks with the sexiest transit maps ever. We’ve eliminated transit anxiety by creating GO, the world’s first real-time transit GPS. We’re creating real-time transit data that nobody else has,” the Montreal startup said.
Transit integrates transportation services unique to each city, whether that’s public transit, a ride share, biking or even carsharing. Users can then compare what method will get them to their destination the quickest and at what cost.
Transit was co-founded in 2012 by CEO Sam Vermette and CTO Guillaume Campagna and incubated at Founder Fuel. Today, they said they have “millions of users” in 135 cities, primarily in Canada and the United States.
Transit pulled Uber into its app travel options this May. In nearly a dozen cities users can access their local bike share service, unlocking and paying for a rental bike through the Transit app. Users can also get access to four-wheels in a pinch through Car2Go.
The company said that in New York City, Transit app usage outpaces Uber ride requests.