Migo raises $9 million for smartphone app that connects Lyft, Uber, LimeBike and Car2Go
Originally published in Puget Sound Business Journal by Casey Coombs on September 10, 2018
Seattle startup Migo Inc. has raised $9 million in Series A funding to expand its on-demand transportation search app.
Enterprise Holdings Inc. VC arm Clayton Venture Partners, Hyundai CRADLE (Center for Robotic-Augmented Design in Living Experiences) and Thayer Ventures joined existing investors including Second Avenue Partners, Via-ID, Rolling Bay Ventures, B37 Ventures and several Seattle-based angel investors.
Founded in September 2017, the app allows customers to compare price estimates and wait times for various types of on-demand transportation – including Uber, Lyft, Car2Go, LimeBike, Yellow Cab and public transit – without having to hop from one app to another. Migo generates revenue by charging these companies a fee each time people use their service through the app.
"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," Migo founder and CEO Jeff Warren said in a news release. "We've also worked hard to gain the trust of our partners, and Migo's engagement and new customer creation rates have exceeded expectations."
The company has about 20 employees and plans to hire another 10 people in engineering, marketing and business development by the end of the year.
Migo for iPhone launched in Seattle and Portland and has since expanded to 75 cities across North America, including Washington, D.C., Los Angeles, Chicago, New York, Miami, Denver, Atlanta, Toronto and Boston. The funding will help the company push into new markets.
The mobility-as-a-service app currently has more than 80,000 users, with a test version for Android phones available in Seattle only.