Mobile & Wireless

Hailo to secure USD 30 mln in funding – report

Wednesday 26 December 2012 | 07:11 CET | News

London-based mobile taxi network Hailo will soon close a USD 30 million round of funding as it plans to extend to the US market, specifically in New York City, AllThingsD reports, citing multiple unnamed sources close to the situation. According to the same sources, the Series B funding round is being led by Fred Wilson of Union Square Ventures.

Earlier this year, Hailo raised a USD 17 million round of series A financing led by Accel Partners. The new round values Hailo at about USD 140 million, the sources added.

Hailo launched in London in 2011 and in mid-October it officially opened for business in Boston, its first US city. Starting 15 February 2013, Hailo will enable New Yorkers to hail cabs with smartphones, TechCrunch reports. The planned service launch follows a year-long pilot program adopted by the Taxi and Limousine Commission.

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Categories: Mobile & Wireless
Companies: Square
Countries: United States
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