SAN FRANCISCO, May 9, 2017 /PRNewswire/ -- Remix, the company changing how public transit is designed around the world, today announced a $10 million Series A round of financing. Sequoia Capital led the investment round and Sequoia partner Aaref Hilaly has joined Remix's Board of Directors. This new investment will enable the company to aggressively accelerate product innovation, expand its sales and marketing efforts and support ongoing plans to broaden its geographic reach.
Remix's web-based platform is transforming decision-making and planning in the public sector. Many cities still rely on a combination of disjointed, labor intensive tools when making transit decisions that affect millions of people. With Remix, planners can quickly design transit routes and immediately understand the cost and demographic impact of a proposed change.
The ability to adapt to changing commuting patterns and mobility needs not only helps individuals who rely on public transportation, but also helps cities become more livable. Innovative cities are preparing for a multimodal future that balances transit, biking, walking, and vehicles that may be on-demand and autonomous. They need the right tools to plan and react as their communities change and grow.
"Public transit determines more about a person's life than almost any other factor. It determines which jobs they can hold and which family members they can reach. It determines how far they can go, and in turn, the freedom that they have. But there's a gap between where our public transit is and where it needs to be — resulting in lost opportunities for cities and the communities they serve." said Sam Hashemi, Co-Founder and CEO, Remix. "At Remix, we believe technology has the potential to dramatically improve public transportation. With this new round of funding, we will continue to invest in building a planning platform that helps transit agencies create opportunities for people of all incomes to live and work."
"Remix's technology is a game-changer. Before Remix, it was impossible to test out potential transit solutions in real-time," said Todd Plesko, Vice President of Planning and Development, Dallas Area Rapid Transit. "With Remix, we can automatically visualize service and financial trade-offs and quickly evaluate how the proposed transit scenarios impact low income and minority populations. The ability to easily explain the impact of prospective improvements has helped streamline the public approval process."
"We used Remix's web-based platform to analyze our current system and found it utterly groundbreaking. There is nothing else like it in the transit marketplace. It places many planning tools into one resourceful package, providing a useful and intuitive solution, that allows transit planners to reimagine the deployment of resources on the fly," said Jon Y. Nouchi, Deputy Director, Department of Transportation Services, City and County of Honolulu. "Before Remix, redesigning a few routes would have taken a few weeks, now it takes a few days."
The Series A financing comes on the heels of exceptional momentum for Remix, which tripled its revenue in 2016. Over 200 cities in over 10 countries now use Remix. The company has helped approximately a quarter of all US transit systems optimize routes, impacting close to one billion transit trips per year.
"Remix helps local governments improve the quality of urban life by reducing congestion and pollution and enhancing social mobility," said Aaref Hilaly, partner at Sequoia and Remix board member. "In two short years, we've already seen Remix have a major impact on public transit around the world."
Remix helps transit agencies and local governments make cities more livable, with a mission to build a more equitable world by expanding access within it. Trusted by over 200 cities on four continents, the Remix team of transit planners and urbanists helps agencies reduce their transit planning timelines from months to days. Remix has raised a total of $12 million in venture funding from Sequoia, Y Combinator, and SV Angel. Headquartered in San Francisco with 45 employees, Remix was founded in 2014.
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