Hailo provides a taxi app and network serving riders and drivers across cities including London, Dublin, Toronto, Boston, New York City, Barcelona, Madrid, Chicago and soon Tokyo. The company is expanding its international footprint and intends to use the new capital to continue global expansion. It has formed a strategic partnership with Japanese telco KDDI to leverage KDDI's 35m subscribers to support launches in Asia beginning with Tokyo. Leadership changes accompanied the round: Jay Bregman is CEO and co-founder, John Buttrick of USV Opportunity Fund joined the board, and Tom Barr was added as President and COO USA. Hailo is hiring to support growth and launches in new markets. The company raised significant outside capital to fund its expansion plans. Hailo operates a mobile network and consumer apps that connect passengers with licensed taxi drivers and provide drivers with a companion app offering traffic patterns, demand alerts, private stats, and messaging. The driver app supports credit-card processing, tipping, manual meter entry and shares pickup orders originating from the consumer app. Consumers can request pickups, see driver profiles and ratings, and are charged based on the taxi meter with receipts emailed after trips. Since launching in London last November the consumer app has been downloaded nearly 200,000 times and the company reports about 3,200 driver downloads and roughly 1,700 active drivers, with an average pickup time of around two minutes. Hailo monetizes by taking a percentage of fares processed through its consumer pickup app. The company is aiming to expand to the U.S. (targeting Chicago, Boston, Washington, D.C., and New York) and has hired a Chicago general manager to support that expansion.

Total raised

$48M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2013