GetTaxi Launches in New York City, Brings Total Funding to $42M with $12M Series C Round
NEW YORK, Aug. 8, 2013-- GetTaxi, a leading consumer taxi app and the pioneer enterprise taxi app in Israel, Russia and the UK announced its New York City launch today, along with the closing of a $12 million Series C funding round led by prominent European fund Kreos Capital with participation from existing investors.
Following its explosive growth internationally, GetTaxi is kicking off its Big Apple launch with a network of black cars, known as G-Cars. When the capped supply of 13,000 yellow taxis fails to meet consumer demand during rush hour, rain or shift change, G-Cars will offer an essential supply nearby to fill the void.
In partnership with premier local fleets, GetTaxi's technology will ultimately serve as the backbone for the 40,000 strong New York car service industry. Priced with fixed and predictable rates between neighborhoods, G-Car prices are competitive with local car service providers.
"GetTaxi combines state-of-the-art technology, 24/7 live customer service, and fixed predictable pricing," said GetTaxi founder and CEO Shahar Waiser. "In blending the best user experience of apps with live customer support and competitive pricing, we have built a uniquely disruptive model that's been a proven winner in large markets as diverse as Tel Aviv, Jerusalem, Moscow, and London."
With over a million consumer users, GetTaxi is live in 20 cities and already profitable in 16 of them. The company is currently processing nearly 20,000 orders daily and growing by 50 percent quarterly. By the end of 2013, GetTaxi expects to be profitable in 18 cities and generate $120-130 million in annual sales.
GetTaxi is the only app that also provides a full business solution, including centralized booking for immediate orders and future bookings, billing, automatic payment, analytics and 24/7 customer support. GetTaxi saves clients money and hassle by completely replacing employee payment, receipt submission and reimbursement processes. GetTaxi already serves over 1,500 corporate clients and a number of Fortune 500 companies including Google, Goldman Sachs, Morgan Stanley, PWC, E&Y, Deloitte and other leading financial institutions, telecommunications firms, media companies and law firms around the world.
The GetTaxi app was featured as Editors' Choice by Apple's App Store, Google Play and BlackBerry World.
"We are thrilled to be launching GetTaxi in New York." said U.S. CEO Jing Herman.
"The pain point that we want to solve is when yellow taxis are simply unavailable. We want to be THE solution by giving people better cars, better service, and at a better value. Our G-Cars will be the solution for New Yorkers on the go."
On top of ordinary taxi app features, such as instant ordering, tracking of driver, seamless payment and email receipt, GetTaxi provides riders with an array of unique features:
•Simple and ultra-fast ordering
•GetTaxi Radar™ - shows available taxis & black cars in real time via map
•Credit cards with no commissions or extra charge
•24/7 live customer service
•Future bookings (soon in NYC)
•Fixed and most competitive airport pricing
•Ride history for quick reordering of the same or reverse ride
•Frequent rider loyalty program
•First app to offer FREE WIFI (available in select cities)
By providing all of this at attractive prices, GetTaxi is supercharging the Big Apple's best car services of today with the technology and customer-centric approach of tomorrow.
Founded in 2010, GetTaxi is a preeminent mobile app for booking taxis and black cars in 20 cities around the world – including New York, London, Moscow, St. Petersburg, Tel Aviv and Jerusalem. GetTaxi combines superior mobile technology with 24/7 live customer care and attractive pricing. With over a million downloads and nearly 20,000 daily orders, GetTaxi has revolutionized the way people get around. In addition to the consumer offering, GetTaxi is the only taxi app that provides a full business solution, serving over 1,500 corporate clients and a number of Fortune 500 companies. The GetTaxi app was featured as Editors' Choice by all three major platforms: Apple iTunes App Store, Google Play and BlackBerry World. GetTaxi has raised $42 million in venture funding and is headquartered in Tel Aviv with offices in London, Moscow, and New York with 150 employees.
Downloadable Venture Capital Database