The Juno Inc. and Gett Inc. applications are displayed on an Apple iPhone.<\/p>\n
Bloomberg | Bloomberg | Getty Images<\/p>\n
Ride-hailing app Gett announced Tuesday that it's raised another $100 million from investors, bringing total funding in the company up to more than $750 million.<\/p>\n
The company, founded in Israel in 2010, said in a press release that it will use the funding to improve its \"ground travel platform for corporates.\"<\/p>\n
Like Uber and Bolt, Gett allows people to hail a ride on-demand to get them from A to B.It's all-in-one booking platform is available to businesses in Europe and North America.Perhaps unsurprisingly, the company is increasingly keen to sign up large firms with thousands of employees as customers.<\/p>\n
However, it's not the only one. India's Ola announced a similar \"Ola Corporate\" offering on Tuesday while Uber launched Uber for Business in 2014. There are many other firms trying to compete in this space including Addison Lee and Wheely.<\/p>\n
Despite the competition, Gett said that a third of the Fortune 500 have become clients since it launched its corporate travel service in 2010. Customers include the likes of Google and Disney.<\/p>\n
Gett pointed to the fact that it became operationally profitable in December 2019. It also highlighted how it is on a trajectory to become cash flow positive during 2021 ahead of a potential stock market listing.<\/p>\n
Dave Waiser, Gett CEO, said in a statement: \"The proceeds will help us grow our unique corporate SaaS (software as a service) platform internationally, while we consider an IPO in the future, to further accelerate our expansion.\"<\/p>\n
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Uber rival Gett raises $100 million as it pivots toward the business travel market - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The Juno Inc. Continue reading