Baby, You Can Fund My Car: Uber Drives August VC
Rutberg revealed Monday that private companies in mobile raised $738 million in 109 venture capital deals this August in its monthly survey of the sector. So far, mobile-focused private companies have raised $5.6 billion in 716 deals in 2013. In July, mobile private companies drew in $744 million.
Here's a list of the top five earners this month:
Table 1: August Mobile VC Funding Leaders
|Uber||$258M||San Francisco||Mobile transportation app|
|Powa Technologies||$76M||London||Mobile point-of-sale system||N/A|
|Fitbit||$43M||San Francisco||Mobile fitness device||Foundry Group, QUALCOMM Ventures, SAP Ventures, Softbank Capital, True Ventures|
|SOASTA||$30M||Mountain View, Calif.||Mobile test & analytics software||Canaan Partners, Formative Ventures, Macquarie Capital, Pelion Venture Partners, ROTH Capital|
|Slice||$23M||Palo Alto, Calif.||Mobile eCommerce organizer app||DCM, Innovation Endeavors, Lightspeed Venture Partners, NPD Group, Rakuten, Russia Partners|
|Source: Rutberg & Co.|
Uber is clearly the star of the show this August. In fact, Rutberg notes that transportation apps -- and conversely fitness apps -- are raking in the dollars this year:
- The transportation app landscape is divided by geography and car/taxi segment. During January through August 2013, private companies in the subsector raised $437 million, as compared to $116 million in 2012, $76 million in 2011, and $5 million in 2010. The 2013 financings were led by Uber's $258 million, Lyft's $60 million, Hailo's $31 million, and Didi Dache's $25 million rounds. The market is early, and we are continuing to see startups emerge and receive funding in each market. We believe the network effects will drive rapidly to a few leaders in each market.
Here's where Uber fits in the top mobile funding rounds since 2001, as ranked by Rutberg:
One thing we can gauge from the chart that massive funding rounds are no sure-fire indicator of success. LightSquared is currently in bankruptcy proceedings and MVNO Helio was sold for a mere $39 million in 2008.
- The Best-Funded Mobile Startups of 2013
- Mobile VC Funding in July Totals $744M
- June Mobile VC: $795M in Funding
— Dan Jones, Mobile Editor, Light Reading