Transit tech company Via secured $110 million in its latest round, bringing the funding to nearly $1 billion and valuing the startup at $3.5 billion.

The new round was led by 83North, with participation from new and existing investors including EXOR, Pitango Venture Capital, Planven Ventures, Janus Henderson, CF Private Equity, RiverPark Ventures and ION Crossover Partners.

New York-based Via’s new valuation is the same price per share as its last funding round in November 2021, when it raised $130 million in a Series G round at a $3.3 billion valuation. The company has more than doubled its annualized revenue run rate since then, surpassing $200 million last year.

Via was founded in 2012 as a ridesharing service that allowed users to order shuttle vans with a smartphone app. Since then, it has transitioned to a software company that helps cities optimize their public transit operations. Via’s technology is used in 600 communities across 35 countries.

“Access to transit improves health, education, and economic outcomes, and all of us at Via are inspired every day to see the positive impact our customers have achieved by adding technology to their transit networks,” said co-founder and CEO Daniel Ramot.

Via plans to use the additional funding to expand into new markets and verticals while investing in platform enhancements. The company will also grow its global team of 1,100 employees.