Light Reading

Baby, You Can Fund My Car: Uber Drives August VC

Dan Jones
9/23/2013
50%
50%

Transportation app Uber grabbed a massive $258 million dollar round last month from Google (Nasdaq: GOOG), one of the top financing rounds this decade for a mobile company, according to Rutberg & Co.

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

Startup Latest funding Location Developing Backers
Uber $258M San Francisco Mobile transportation app Google
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.

Related posts

— Dan Jones, Mobile Editor, Light Reading

(2)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View
SarahReedy
50%
50%
SarahReedy,
User Rank: Blogger
9/23/2013 | 2:39:30 PM
Ride sharing
I love Uber and especially its slick mobile app, but I'm less convinced on the ride-sharing companies like Sidecar. Seems creepy to get a ride with strangers, although I guess cabs can be equally as creepy (although Uber takes some of that out). Sharing (bikes, cars, minutes, WiFi, etc) is a big trend now.
DanJones
50%
50%
DanJones,
User Rank: Blogger
9/23/2013 | 2:36:24 PM
Sweet spot app?
So, maybe, an app that calculates the longest walk to your app-sourced driver would be the sweet spot between fitness and transport apps?
Flash Poll
From The Founder
It's clear to me that the communications industry is divided into two types of people, and only one is living in the real world.
LRTV Interviews
Liberty Global Sees Business Goldmine

12|18|14   |     |   (0) comments


Steen Sorensen, VP of business services for Liberty Global, explains where the giant international MSO sees growth potential.
LRTV Documentaries
EE: The Road to 5G

12|16|14   |   16:02   |   (1) comment


Andy Sutton, the principal network architect at UK mobile operator EE, explains how his company is using Wembley stadium as a wireless test bed and how that's helping EE to plan the evolution to 5G.
LRTV Huawei Video Resource Center
Highlights of Huawei's NFV Open Cloud Forum 2014

12|16|14   |     |   (0) comments


Huawei hosted its inaugural NFV Open Cloud Forum during the SDN & OpenFlow World Congress 2014 in Düsseldorf, Germany. The Forum brought together technology thought leaders, senior executives and telecom professionals from global carriers, industry associations, as well as other partner companies in the ecosystem, to exchange views on and collectively explore how ...
LRTV Custom TV
Realizing Operators' Digital Vision

12|16|14   |   5:23   |   (0) comments


Leveraging technology is fundamental to digital transformation but understanding customers and serving them really well is at the heart of digital businesses. TM Forum lists the following as the strategic pillars of the digital business: business agility and rapid innovation, operational agility and effectiveness, IT and data centricity, plus customer centricity. ...
LRTV Documentaries
US Cellular Injects Analytics Into LTE

12|16|14   |   2:57   |   (1) comment


US Cellular's Mario Vela explains how the operator uses analytics for network planning and what comes next as the carrier looks to eke more value out of its metrics.
LRTV Interviews
How Cox Biz Plans to Keep Growing

12|15|14   |     |   (2) comments


Steve Rowley, SVP of Cox Business, details how the third-biggest US MSO intends to boost its revenues to $2 billion and beyond over the rest of the decade
LRTV Huawei Video Resource Center
Interview With Bill Zhang, Director of SoftCOM Product Management, Huawei

12|15|14   |   2:50   |   (0) comments


Bill Zhang elaborated on Huawei's open philosophy in NFV solution development and network architecture design at the SDN & OpenFlow World Congress 2014.
LRTV Huawei Video Resource Center
Event Highlights: Huawei at SDN & OpenFlow World Congress 2014

12|15|14   |   3:43   |   (0) comments


Huawei joined the 2014 SDN & OpenFlow Congress as one of the key sponsors and contributors. At the event, Huawei reinforced the openness and flexibility of its network infrastructure strategies, and provided updates on its SDN and NVF innovations. Through participations at the exhibitions, forums and speeches, Huawei encouraged the industry to "think bigger and ...
LRTV Interviews
How Cable Biz Services Hit $10B Mark

12|12|14   |     |   (1) comment


Cable operators reached $10 billion in annual business services revenues by delving deeper into their vertical markets and expanding beyond the smallest firms.
LRTV Documentaries
Mediacom Aims to Test Connected Tractors

12|11|14   |   05:07   |   (3) comments


Cable business service provider is taking its services to the 'agribusiness' sector in partnership with farm equipment specialist John Deere and is getting involved in Gigabit Cities developments.
LRTV Interviews
TWC Business Looks Beyond $3B

12|10|14   |     |   (0) comments


TWC Business Services chief Phil Meeks explains how his unit has reached $3 billion in annual revenues and what its plans are for next year.
LRTV Documentaries
AT&T's New Security Strategy

12|10|14   |   02:36   |   (1) comment


AT&T's Chief Security Officer Ed Amoroso explains how his company is wrapping virtual security layers around micro network domains.
Upcoming Live Events
February 10, 2015, The Westin Peachtree Plaza, Atlanta, GA
March 17, 2015, The Cable Center, Denver, CO
April 14, 2015, The Westin Times Square, New York City, NY
May 6, 2015, McCormick Convention Center, Chicago, IL
May 13-14, 2015, The Westin Peachtree, Atlanta, GA
June 9-10, 2015, Chicago, IL
Hot Topics
Vodafone to Ride T-Mobile Back Into US
Dan Jones, Mobile Editor, 12/12/2014
1-Gig: Coming to a Small Town Near You
Jason Meyers, Senior Editor, Gigabit Cities/IoT, 12/17/2014
T-Mobile, BlackBerry Flirt With Reuniting
Sarah Reedy, Senior Editor, 12/17/2014
Gardner's Departure a Cautionary Tale
Carol Wilson, Editor-at-large, 12/12/2014
T-Mobile Lights Up 27 Wideband LTE Cities
Sarah Reedy, Senior Editor, 12/15/2014
Like Us on Facebook
Twitter Feed
Upcoming Webinars
Webinar Archive