TransLoc, a leading provider of transit technology, has been acquired by the Ford Smart Mobility Business Group. In March 2016, Social Venture Circle (IC)’s members, fund, and partners invested in TransLoc’s $8 million financing round. “This investment was a perfect example of the value of collaboration exhibited across the IC network and the broader impact investment ecosystem,” says Sky Lance, Managing Principal of SustainVC. “Our Durham office became aware of the original investment opportunity and helped direct TransLoc to the impact investors that ended up investing in the round. It was truly a collaborative effort.”
“TransLoc was pleased to have financial and strategic support from IC’s mission-aligned impact investors, including SJF Ventures and SustainVC. We look forward to joining Ford Smart Mobility and continuing our mission of making transit the first choice for all,” says Doug Kauffman, CEO of TransLoc.
The acquisition of TransLoc is part of a Ford Smart Mobility strategy to accelerate delivery of mobility products and services to customers around the globe. It will allow Ford to leverage TransLoc’s operational expertise, network of city relationships, and proven track record of providing solutions to cities globally that can improve the rider experience with dynamic routing. Along with TransLoc, Ford also acquired Autonomic, a California-based technology company that specializes in scale, architectures, and leverage for transportation industry solutions.
“We are thrilled about the merger of TransLoc with Ford Mobility,” said Dave Kirkpatrick, Managing Director at SJF Ventures and Chair of TransLoc’s Board of Directors until the acquisition. “With Ford’s backing, TransLoc will be able to more rapidly deploy microtransit in hundreds of cities, making them more livable and sustainable. SJF Ventures is proud to have partnered with the TransLoc team in their rapid growth in recent years. This is a win for all involved as well as the Durham entrepreneurial ecosystem.”