Washington, DC-based startup TransitScreen – which mashes up open source data like transit and traffic conditions as feeds and finished screens – has completed an $800,000 seed capital raise.
The money will be used, says the company, to expand sales and product growth in the real estate tech and smart cities verticals. The investors include DC-based 1776 Ventures, Middle Bridge Partners, Mark Decker Jr., Alex Bresler and some unnamed angels.
In a nutshell, the company uses data as varied as transit schedules, bike-share rentals and Uber availability to present screens that look and feel a lot like airport arrivals and departures boards, but for the day to day of people working in and commuting in and out of big cities. The data is primarily open source real-time records from government transport agencies.
“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,” says CEO Matt Caywood. The company has now raised a total of $1.5 million.
“Our growing team has united behind a common purpose: improve quality of life in cities through access to timely information. From Paris to Seattle, Boston to Berlin, we are giving people back the one resource we all need more of—our time,” says COO Ryan Croft.
The company is now out of burn mode and generating revenue from paying customers in 25 cities in North America and Europe. TransitScreen says it is targeting 5,000 screens live worldwide by early next year.