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CitySwift bags €7m in funding round for mobility intelligence software

Feb 01, 2024almost 2 years ago

Amount Raised

€7 Million

OranmoreSoftware Development

Investors

Act Venture CapitalWestern Development CommissionIrelandia InvestmentsGresham House Ventures

Description

CitySwift has secured €7m in funding in its latest funding round led by Gresham House Ventures, with additional participation from Irelandia Investments, the Western Development Commission, and ACT Venture Capital. The funding will be used to accelerate the growth of the platform, double the headcount in the next two years, and further develop client services.

Company Information

Company

CitySwift

Location

Oranmore, Galway, Ireland

About

CitySwift is a big data company that powers major bus networks across the globe. CitySwift's intelligent transport data platform offers bus network providers the precise insights they need to quickly adapt and operate for efficiency, profitability, and growth. The CitySwift platform was built to break down all of the barriers to data that private operators and public authorities have to deal with. CitySwift enables them to meet and exceed punctuality and reliability goals, without compromising on resources. Working with leading private operators and public authorities globally, the CitySwift team blends real-world bus industry experience with a deep knowledge of data science to give bus networks the best of both worlds. CitySwift uses machine learning to accurately predict journey times and passenger demand, creating optimised timetables that take into account traffic, events and hundreds of other external factors, ensuring on-time performance and increased passenger satisfaction. Customisable management dashboards deliver business intelligence and enable tracking of KPIs. Improve the efficiency of public transport networks and ensure every bus is where passengers expect it to be, with data-driven decision-making from CitySwift.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers