RidePal, a provider of Wi-Fi-enabled bus rides for corporate employees, has raised USD3.2m in a series A financing round led by Claremont Creek Ventures and Volvo Group Venture Capital.
RidePal balances commuter preferences and their employers’ needs and optimises pick-up points and route scheduling. RidePal provides rides for the employees of more than 30 companies.
RidePal’s corporate customers range from large corporations such as Intuit and Groupon to smaller ventures including biotech start-up Clinovo.
"RidePal has completely changed my commute and has provided me with 10 more hours of productivity per week," says Sophie McCallum, director of operations at Clinovo.
RidePal currently provides daily direct commute services between 11 cities around the San Francisco Bay including the recently announced bus service between San Francisco and Palo Alto.
RidePal engages the buses of partners including Black Tie Transportation and Bauer Transportation.
Nathalie Criou, RidePal chief executive and co-founder, says: "We have seen tremendous growth in the last few months, due to the word of mouth communications by our happy users. We are excited to work with Claremont Creek Ventures and Volvo Group Venture Capital as their insights and domain expertise will prove immensely valuable in expanding our services."
Nat Goldhaber, managing director of Claremont Creek Ventures, says: "Every work day millions of people unnecessarily suffer through a long, frustrating twice-daily commute. A commuter strategy is necessary for companies to attract top talent and keep employees committed. RidePal solves these challenges. RidePal is life-changing for its users, and enables efficient commuter management for participating companies.”
Jonas Landstrom, head of Americas at Volvo Group Venture Capital, says: "Volvo is excited to partner with RidePal. Mobility solutions in urban areas are a focus area for Volvo Group going forward and RidePal responds in an innovative way to an acute global need. We look forward to leveraging the strengths of both organizations to contribute to better commutes globally."
