Hailo taxi app picks up $30M in funding

Hailo taxi app picks up $30M funding

06 FEB 2013

Taxi app Hailo secured $30.6 million in funding, which will be used to expand its network in Asia, Europe and the US.

The Hailo app informs users of the location of the nearest taxis before allowing them to order one. The service is available for ten cities in six countries just over a year after it was first launched, and has sales in excess of $100 million

Hailo is due to go live in New York City in the first quarter of 2013, with former head of Starbucks’ coffee business, Tom Barr, appointed to lead the launch as US president and COO.

Japanese operator KDDI — which contributed to the funding round — has signed a partnership to support launches of Hailo in Asia, starting in Tokyo.

In Europe, Madrid and Barcelona will soon be covered by the app, with other cities on the continent due to follow.

“We now have the senior team, resources, and the investment and corporate partners to deliver our vision of bringing Hailo to NYC, Tokyo, and every street corner in every major city in the world. We have shifted into overdrive,” said Hailo CEO and co-founder Jay Bregman.

The latest investment — which brings Hailo’s total funding to more than $50 million — has been led by venture capital firm Union Square Ventures (USV), which has previously backed Twitter, Foursquare and Tumblr. USV opportunity fund partner John Buttrick joins the Hailo board.

Other investors in the latest round include Virgin founder Richard Branson and Skype founder Niklas Zennstrom’s Atomico Ventures.

Author

Tim Ferguson

Tim joined Mobile World Live in August 2011 and works across all channels, with a particular focus on apps. He came to the GSMA with five years of tech journalism experience, having started his career as a reporter... More

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