(Bloomberg) -- Via Transportation Inc., a competitor to Uber Technologies Inc., is planning to go public in the U.S., according to people with knowledge of the matter.

The company is working with Goldman Sachs Group Inc. on the planned initial public offering, the people said, asking not to be identified discussing private information. A listing could happen in six months to a year, the people said.

The company, founded in 2012, also considered a merger with a special purpose acquisition company, or SPAC, but decided to pursue an IPO instead, the people said.

Caroline Hawkins, a spokeswoman for Via, declined to comment. A representative for Goldman Sachs didn’t immediately respond to requests for comment.

Via’s business overlaps with ride-hailing companies like Uber and Lyft Inc. Via serves cities including New York, Chicago and Washington in the U.S. as well as Amsterdam and Berlin. Via’s software is used by more than 500 cities and transit agencies, one of the people said.

The company expects to be valued at a premium to its last funding round, the person said. Via had a valuation of $2.93 billion after a $60 million funding round in March, according to data provider PitchBook.

The global market for so-called transit tech software is expected to grow to about $60 billion in 2025, up from $20 billion last year, according to a report by Boston Consulting Group on Via’s website.

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