Transit secures $2.4 mln from new and existing VC investors

Canadian public transportation app Transit, formerly known as Transit App, has obtained $2.4 million in follow-on financing, according to a post on the company’s blog.

New investors Accel Partners and Accomplice invested in the round, as did existing backers Real Ventures and BDC Capital.

Montréal-based Transit, founded in 2012, said it wants to use the round’s proceeds to invest in its technology and enhance the precision of its real-time transit data.

Transit announced its latest fundraising with the launch of version 4.0 of its app.

Photo courtesy of Transit