TransitScreen, Inc. has raised an additional $800k of seed capital to expand its sales and product offering for the real estate tech and smart cities markets. The Washington, DC-based company has now raised a total of $1.5 million in funding.
CEO Matt Caywood told us “Globally, transportation has changed more in the last five years than in the previous hundred years combined. We are making buildings and cities smarter and more sustainable by delivering timely information worldwide.”
Participants in the seed funding include Middle Bridge Partners, Alex Bresler, Mark Decker, Jr., DC-based 1776 Ventures, and angels.
COO Ryan Croft said “Our growing team has united behind a common purpose: improve quality of life in cities through better access to information. Urban mobility is a challenge that we all share. From Paris to Seattle, Boston to Berlin, we are giving people back the one resource we all need more of—our time.”
In 2015, TransitScreen was a recipient of a USD 75,000 Energy Exelerator grant, from the U.S. Office of Naval Research, U.S. Department of Energy, and State of Hawaii.
David Zipper, Managing Director and head of Smart Cities and Transportation at 1776 said “TransitScreen has shown incredible promise in building its business and is proving to be highly scalable. It is already making cities smarter, and 1776 is proud to invest in TransitScreen as it goes global.”
Omer Er, Managing Partner of Middle Bridge Partners said “TransitScreen provides a great platform to millions of people in cities around the globe to make urban life easier. It is a solution suitable for every city in the world from New York to Beijing, from Istanbul to Sao Paolo.”
The company is generating revenue and reports paying customers in 25 cities (and 4 languages) across North America and Europe. It expects to have 5,000 screens live worldwide by early 2017.
Notable clients include AvalonBay, LinkedIn, Equity Residential, and the City of Seattle.
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