Lyft raises $247.7M in Series F

What does Lyft do?

Lyft, is a peer to peer transportation platform which connects passengers who with drivers willing to provide rides in their own vehicles. This transportation company is reconnecting people and communities through better transportation. Started in 2012 the company runs on a mission of building P2P transportation solution which helps make cities safer, connected and more affordable. The company now operates in 68 cities in U.S. When using this service passengers have 3 options of their ride; Lyft, Lyft Line and Lyft Plus. The first one is the original service which matches passengers with their nearest drivers, the second one is a shared ride along shared routes priced for everyday use and the third one is a 6 passenger ride when passengers need more space.

How much Lyft was funded?

Lyft raised $247.7M in Series F on December 28, 2015 from Kingdom Holding Company.

Previous funding

  • $1.2M on August 23, 2010 from Keith Rabois, K9 Ventures and FLOODGATE
  • $6M in Series A on September 21, 2011 from AFSquare, K9 Ventures, Mayfield Fund and FLOODGATE
  • $15M in Series B on January 30, 2013 from Founders Fund, K9 Ventures, FLOODGATE, Ooga Labs, Mayfield Fund and Benjamin Ling
  • $60M in Series C on May 23, 2013 from Andreessen Horowitz
  • $250M in Series D on April 2, 2014 from Third Point Ventures, Andreessen Horowitz, Alibaba, Mayfield Fund, Founders Fund, GSV Capital, Coatue Management, Melo7 Tech Partners and QueensBridge Venture Partners
  • $530M in Series E on March 11, 2015 from Rakuten, Altpoint Ventures, Aslanoba Capital, SierraMaya360, Kortschak Investments, Didi Kuaidi and L.P.
  • $150M in Series E on May 15, 2015 from Machine Shop Ventures, Fontinalis Partners, Icahn Enterprises, Tencent Holdings andDidi Kuaidi,Alibaba.
  • $300k on June 1, 2009

What is next for Lyft?

The company  is getting a boost from Saudi Arabia’s Prince al-Waleed bin Talaa. The purchase has lifted the company’s estimated value to $4.92 billion.

More about Lyft

The company was founded on January 1, 2012 by John Zimmer, Logan Green, Matt Van Horn and Marcus Cohn. It has its headquarters in San Francisco, CA.