Transport data platform CitySwift has secured an additional €7 million of funding to accelerate product development. It says that work will continue to provide operators and local authorities with intelligent solutions to enable the futureproofing of transport networks.
Of the backing, new partner Gresham House Ventures has contributed €5 million. Existing investors in the Galway business have provided the remainder.
CitySwift already works in what it says are all major UK cities. It provides rapid access to accurate data across entire networks, enabling planners to devise “more reliable and efficient services that move passengers away from private modes to more sustainable public transport,” the supplier says.
Data from hundreds of sources is aggregated, cleaned and enriched to provide what CitySwift adds is “a trustworthy single source of truth.”
That has recently delivered up to 14% punctuality improvements for National Express, East Yorkshire Buses, and Blackpool Transport. Among other customers are Transport for Wales, Metroline, and Translink in Northern Ireland.
Another product of the new investment will be the provision of dedicated and specialised customer success support at each stage of the client journey, CitySwift continues.
Gresham House Ventures Associate Director Benjamin Faulkner has described CitySwift’s recent growth as “impressive.” Mr Faulkner adds that the business’s understanding of bus networks and data science made investing “a compelling and unique proposition.”
CitySwift Co-Founder and CEO Brian O’Rourke (pictured, right) believes that the leveraging of high-quality data is imperative to ensuring future transport networks meet changing passenger needs.
“This investment is a massive vote of confidence in CitySwift’s platform and people,” he continues. “It will help us to nurture and grow our partnerships with authorities and operators, supporting them to build the data-driven, widely used and resilient transport networks of the future.”