Apr 22, 2024

Capstone Partners Advised TripShot on its Sale to Transit Technologies

Capstone Partners advised TripShot Inc.— a software platform revolutionizing commuter transportation through powerful fleet management tools—on its sale to Transit Technologies, a portfolio company of Greater Sum Ventures and PSG Equity.

TripShot, founded in Silicon Valley, has been at the forefront of the mobility revolution since 2008. The company’s journey from a startup to serving some of the most renowned Silicon Valley Fortune 500 clients and private-sector transportation fleets highlights their commitment to tackling complex mobility challenges. This acquisition will integrate an enhanced product set into Transit Technologies’ already impressive suite of AI-powered SaaS mobility solutions, enhancing both companies’ ability to serve, connect, and optimize both public and private transit networks for current and future clients. For more information on TripShot, please visit them here.

“Today is a fantastic day for TripShot clients, partners, and staff,” said Wayne Lewis, Co-Founder and CEO of TripShot. “Together, Transit Technologies and TripShot take the next big step executing our shared vision of driving innovation in the transportation space and realizing mobility for all. I’m enormously proud of the TripShot team whose grit, experience, and skill has brought us to this proud moment. With the tremendous know-how and resources of Transit Technologies, we look forward to expanding the reach, capability, and value of our leading mobility solutions.”

The synergy between TripShot’s fleet solutions and Transit Technologies’ market-leading platforms for fixed route, demand response, safety and compliance, and non-emergency medical services will contribute significantly to the companies’ shared mission to meet the evolving demands of modern transportation.

Selecting Capstone [as our advisor] was a reflection of their alignment with our company culture, embodying a genuine care for small businesses, belief in our tech, and a dedicated commitment to our success. Their expertise and guidance seamlessly integrated with our vision, ensuring every step of the journey was meticulously crafted to propel our legacy forward. The entire team was engaged every step of the way – impressive. Despite challenges stemming from timing and external market factors, Capstone’s steadfast dedication not only helped us overcome obstacles but reinforced our confidence in their partnership, ultimately leading to a successful outcome.

Nicole LeCo-Founder and COO, TripShot

David Michaels, Head of Technology, Media & Telecom Investment Banking at Capstone Partners, commented “Tripshot is one of the most innovative companies in the mobility software sector with six of the Magnificent Seven as customers and it has been very rewarding working with them to help achieve this important milestone.  The combination with Transit Technologies creates a clear market leader with leading edge technology and end-to-end capabilities.”

Transit Technologies is a transportation software platform at the forefront of revolutionizing mobility, connecting communities, empowering individual journeys, and eliminating the transit equity gap. Since its inception, the company has been dedicated to blending powerful technology to optimize routes, ensure timely schedules, and empower riders, drivers, and fleet managers with safe and innovative mobility and transit operations solutions. For more information on Transit Technologies, please visit them here.

The expert investment banking professionals on Capstone Partners’ Technology Team work with leading middle market companies operating in the transportation software market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Technology Banking Team, contact us here.