Galway-based CitySwift has announced the close of its latest funding round at €7 million, bringing the company’s total funding amount to €14 million.
According to CitySwift, the investment will be used to further develop its platform that utilises artificial intelligence and machine learning to predict journey times and passenger demand, resulting in optimised routing for transportation authorities and operators.
Think of CitySwift as a Waze, but for public transportation.
The round was led by Gresham House Ventures who contributed €5 million, with all existing investors including Irelandia Investments, the Western Development Commission, and ACT Venture Capital following on.
CitySwift reports a customer base growth of 150 per cent in the last 12 months, and now services transport networks in all of the major UK cities including London, Manchester, Birmingham, Belfast, and the entire country of Wales.
CitySwift co-founder and CEO Brian O’Rourke shared:
“Public transport services have to be reliable and efficient to drive passenger growth, and key to this is leveraging AI and data to ensure the transport networks of the future meet ever-changing customer needs.
“This investment is a massive vote of confidence in CitySwift’s platform and people. It will support us in expanding our team so we can continue to deliver the best transport data product and service for both authorities and operators, further positioning CitySwift as the catalyst for the growing demand for public transport.”
Lead image: CitySwift CCO and co-founder Alan Farrelly and CEO and co-founder Brian O'Rourke (left to right). Photo: Uncredited.