Swiftly raises $10 million Series A to power real-time transit data in your city
Swiftly just raised a $10 million Series A round led by VIA ID, Aster Capital, Renewal Funds and Wind Capital to grow its software-as-a-service business for cities transportation agencies. ly works by helping cities manage their transit systems and identify points in the schedule or route that negatively impact service efficiency and reliability.
Swiftly also offers real-time passenger info that will “predict when the bus will arrive in a way that is much more accurate than the current system,” Swiftly co-founder and CEO Jonny Simkin told TechCrunch. In fact, Simkin says Swiftly is up to 30 percent more accurate than current systems.
“It’s one thing to tell someone their bus is ten minutes delayed but if we can get to the root of the problem, it’s better for the city and stimulates the economy,” he said.
That’s where Swifty’s data platform comes in to gather insights and analyze historical data to rethink route planning and where to place stops. In one city, these insights led the customer to implement processes to change lights to green when a bus is running behind schedule.
Swiftly currently works with over 50 cities and 2,500 transit professionals throughout the country. That comes