Three years and 200 customers later, Remix is wrapping up its Series A funding round with $10 million in hand.
The company, which makes planning tools for transit agencies, is going to funnel that money into product development and a push to work more with customers outside the U.S.
“We have been doing a really good job here in the U.S., we have about 25 percent penetration,” Chief Marketing Officer John Eng said. “We think that in order to really complete our mission to make cities more livable, we’ve really got to go international.”
That market penetration in the U.S. includes some rapid growth as of late. According to Tiffany Chu, the company’s co-founder and chief operating officer, Remix’s revenue tripled in 2016. Most of that was from new customers.
Remix’s transit agency customers tend to include those that are actively seeking change, as well as those that already have a foot in the open data game, Chu said. The company’s planning tools lean on open data to help plan and add context to routes — for example, a planner looking at possible new routes can see existing routes, the number of people living nearby and how many of them are living in poverty.
“We’ve seen [it’s] most effective when there’s leadership at the agency who says, ‘We want to do a service expansion or a comprehensive service assessment, or some kind of strategic direction [toward] change,’ as opposed to preserving the status quo,” she…