Investment & Fund Management

CitySwift, an Irish company focused on optimizing urban bus networks through big data and predictive analytics, faced the challenge of securing seed funding to develop their product and scale their operations. Co-founders Brian O’Rourke and Alan Farrelly aimed to enhance the efficiency and service quality of bus transport by integrating their software into existing bus company systems to analyze data and provide actionable insights. This included adapting bus routes to better align with demand fluctuations, such as during major events or academic breaks.

In late 2018, ACT Venture Partners, a venture capital firm supported by the European Investment Fund (EIF), recognized the potential of CitySwift and made a significant investment. This funding was crucial for the company to advance to the next stage of growth, allowing them to hire the right talent and expand their reach beyond the UK and Ireland, with ongoing discussions in cities like Paris, Berlin, and Vienna. The investment not only provided financial support but also brought valuable experience that facilitated CitySwift's growth.

The process of attracting venture capital was also beneficial for CitySwift, as it served as a rigorous evaluation of their business model. Pitching to investors forced the team to confront challenging questions and refine their strategy, ultimately leading to a stronger business foundation. The combination of improved operational efficiency, enhanced service for customers, and a more sustainable transport network exemplifies the unique benefits achieved through their tailored solutions.