SEATTLE, WA, Migo has received $9 million in Series A funding from institutional and strategic investors.
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Migo, the free mobile app for on-demand rides and a leader in Mobility-as-a-Service (MaaS), has received $9 million in Series A funding from institutional and strategic investors. New investors include Clayton Venture Partners, the venture capital arm of Enterprise Holdings Inc., Hyundai CRADLE, and Thayer Ventures. Existing investors including Second Avenue Partners, Via-ID, Rolling Bay Ventures, B37 Ventures, plus several Seattle-based angel investors also participated in the round.
Migo launched in September 2017 and was the first app available in North America that allowed customers to discover and hail multiple modes of personal transportation without having to jump from one app to another, and now includes Uber, Lyft, Car2Go, Yellow Cab, Lime, Flywheel, public transportation and more. For customers, Migo opens up the world of transportation options with an incredibly simple way to discover, find and use the best ride for them wherever they are and whenever they need it.
For transportation partners, Migo is a customer acquisition platform to help new and existing customers discover and engage with their brand at the moment that they are in need of getting from A to B.
"Since launching last year, we have expanded Migo's coverage and features to test the core proposition that people love multi-modal choice in transportation. It's still early days for Migo and our customers' generous feedback has helped us continually iterate to deliver a great app experience," said Jeff Warren, founder and CEO of Migo. "We've also worked hard to gain the trust of our partners, and Migo's engagement and new customer creation rates have exceeded expectations."
Migo for iPhone launched in the App Store with an initial focus on Seattle and Portland, and has since expanded to be used in 75 cities across North America, including Washington DC, Los Angeles, Chicago, New York, Miami, Denver, Atlanta, Toronto, Boston and more. In addition to continually expanding ride partners and Migo cities, the company has also worked to deliver new features to personalize the ride experience even more for their growing base of more than 80,000 users.
Warren added, "We've seen the personal transportation market explode since Migo began in 2016, as car manufacturers, bike companies, scooter businesses and more have jumped into the Mobility-as-a-Service space. We know from our data that brands matter in the MaaS space, but also that people move around and are interested in easily finding solutions that are appropriate to them in the moment."
The world's largest car rental company - which operates the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands - concurs with that customer-centric strategy. "We see this as a strategic investment in an innovative company that's providing real value to consumers in a crowded mobility marketplace," explained Enterprise Holdings President and Chief Executive Officer Pamela Nicholson. "We are pleased to support Migo, and its cutting-edge MaaS app, so that more and more customers will be able to identify and book multiple modes of ground transportation with minimal friction."
"We are excited to partner with Migo," said John Suh, vice president of Hyundai CRADLE. "Tomorrow's mobility market will likely be very different from today's. We believe Migo has a platform that will meet new emerging demands."
Migo is currently available on iPhone in the app store and in a limited beta (Seattle only) on Android. Download on the App Store for iPhone or visit www.getmigo.com to sign up for alerts to hear when Migo launches new partners and services in additional cities. To access and download screenshots of the Migo app and the Migo logo visit: https://www.getmigo.com/news/pr/migo-closes-series-a/
Migo is your free app for discovering new and existing ways to get from A to B without having to jump from app to app. Migo helps riders discover the right ride, at the right time - with options ranging from rideshare, carshare, taxi, and bikeshare, to specialty transport and public transportation. We're not a new transportation company - we help you discover your best ride. Migo - Find Your Ride!„¢