& cplSiteName &

Lyft Drives Mobile VC Funding to $1.4B in April

Dan Jones
5/22/2014
50%
50%

San Francisco-based driver-finding startup Lyft drove to the top of another huge month for mobile venture capital funding, according to the latest report from Rutberg & Co.

Rutberg & Co. reports that mobile-focused private companies raised $1.4 billion in 121 deals during April, adding to the whopping $1.1 billion raised in March this year.

Here are the top five earners in April:

Table 1: Five 5 Mobile VC Fundings in April

Company Location Funding Amount Developing Backers
Lyft San Francisco $250M Ride-share app & service Alibaba, Andreessen Horowitz, Coatue Management, Founders Fund, Mayfield Fund, Third Point Ventures
Prodea Systems Richardson, Texas $100M An Internet of Things platform Mubadala Development Company
Fuhu El Segundo, Calif. $65M A tablet for children N/A
Apigee Palo Alto, Calif. $60M An API-management system Bay Partners, BlackRock, Focus Ventures, Norwest Venture Partners, Pine River Capital Management, SAP Ventures, Third Point Ventures, Wellington Management
SimpliSafe Cambridge, Mass. $57M A connected home platform Sequoia Capital
Source: Rutberg & Co.

Rutberg also notes that Internet of Things (IoT) startups are getting plenty of money and attention from their VC pals now:

    Six IoT companies raised $174 million in April, including $100 million for Prodea Systems... Other IoT companies that raised venture capital in April include: Jasper Wireless, which raised $50 million from Temasek Holdings, a Singaporean sovereign wealth fund; Ayla Networks, which raised $14.5 million from investors including Cisco Systems, Crosslink Capital, and the IFC; Evrythng, which raised $7 million from investors including Atomico and Cisco Systems; Understory, which raised $1.9 million led by True Ventures with participation from investors including RRE Ventures and SK Ventures for its ground-level wireless weather detection network; and Huminn Mesh, which raised $300,000 from undisclosed investors.

Follow the VC money further below:

— Dan Jones, Mobile Editor, Light Reading

(11)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Page 1 / 2   >   >>
Mitch Wagner
50%
50%
Mitch Wagner,
User Rank: Lightning
6/8/2014 | 10:56:21 PM
Re: Lyft
briandnewby - Taxi regulations generally ensure drivers are qualified and vehicles are safe. Sometimes they go too far and amount to regulatory capture, where the regulated business uses control over government to enact rules to prevent competition. Seems like a mix of both going on here.
jamesandrew684
50%
50%
jamesandrew684,
User Rank: Light Beer
6/6/2014 | 3:21:09 AM
Re: Lyft
If government regulates these ride share services, then it ll become a quite useful for both cabbies and passengers. But still many major cities allows unregulated taxi dispatch system, however its good alternative for traditional cab services.
Mitch Wagner
100%
0%
Mitch Wagner,
User Rank: Lightning
5/28/2014 | 3:58:31 PM
Re: Lyft
briandnewby - I suspect there's a mix of good motivations and bad in local governments' cracking down on ride-sharing services: Protecting citizens, protecting tax and fee revenue, and protecting political cronies. 
pcharles09
50%
50%
pcharles09,
User Rank: Light Beer
5/27/2014 | 7:57:32 PM
Re: Lyft
That's what you would hope for. In NYC, it still scares me but hopefully it'll decrease the amount of cabs cutting each other off for a fare.
briandnewby
50%
50%
briandnewby,
User Rank: Light Sabre
5/27/2014 | 4:06:12 PM
Re: Lyft
Well, if it's a win-win, no wonder there are hurdles :-)

I don't know enough about the history of taxis to know why the regulations exist.  It makes sense, of course, to regulate fares so that unsuspecting newcomers at the airport aren't taken to the, um, cleaners instead of their destination.

So, I'm sure there is more to regulating than a revenue source for the city.  But, my hunch is that the revenue source is the motive for cities being resistive now.
Mitch Wagner
50%
50%
Mitch Wagner,
User Rank: Lightning
5/27/2014 | 2:07:45 PM
Re: Lyft
Sounds like an opportunity for all the cab drivers to spend less time waiting for a fare, while customers spend less time waiting for a cab. Everybody wins.
briandnewby
50%
50%
briandnewby,
User Rank: Light Sabre
5/24/2014 | 9:30:19 AM
Re: Lyft
I imagine the drivers would like it.

On the other hand, in big cities, where cab drivers wait at the airport for hours at times, I imagine they wouldn't like it if others didn't have to follow the same rules.

On the other, other hand :-), maybe those rules need a swift kick.  I feel bad when someone has waited so long and my cab ride is just a $20 thing.

In the end, after cab costs and counting the wait time, the cab driver made about $5 an hour, at best.
DanJones
50%
50%
DanJones,
User Rank: Blogger
5/23/2014 | 1:58:50 PM
Re: Lyft
I haven't done the numbers but the driver-finder, rride-sharing apps startups have garned vast amounts of money over the last couple of years. $280M for Uber, $250M for Lyft. There's got to be a shake-out at some point soon.
Mitch Wagner
50%
50%
Mitch Wagner,
User Rank: Lightning
5/23/2014 | 1:54:34 PM
Re: Lyft
The taxi and limousine lobby is powerful in many US cities, and they stand to be the big losers from rideshare businesses like Lyft and Uber. 

I've been concerned that services like Lyft and Uber would depress wages for drivers. But the drivers I talk to love it. They say it gives them more money, more freedom, and better working conditions. 
briandnewby
50%
50%
briandnewby,
User Rank: Light Sabre
5/23/2014 | 1:46:31 PM
Re: Lyft
I haven't used Lyft, but Lyft is involved in a fairly public controversy in Kansas City and I'm assuming the company is facing that in many communities--essentially unlicensed taxis that is only a concern to those who pay to be licensed and the cities that receive such licensing money.

It's the kind of disruptor that is probably impossible to stop, but there is at least a fair amount of risk that the business model could get, um, "Tesla'd."

I'm surprised so much money has been put into it.
Page 1 / 2   >   >>
Educational Resources
sponsor supplied content
Educational Resources Archive
From The Founder
The independent evaluation of Nokia's key virtual network functions (VNFs) was a defining moment for the Finnish giant.
Flash Poll
Live Streaming Video
The Real-World View of Service Provider Innovation
Executives from Deutsch Telekom, Facebook, AT&T, Vodafone, and Masergy share insights from their company’s major transformation efforts and updates on key issues including open source, managed cloud connections and 5G.
LRTV Documentaries
Leading Lights 2016 Highlights

5|25|16   |   02:26   |   (0) comments


Some of the high points from this year's Leading Lights awards dinner at the Hotel Ella in Austin, Texas.
LRTV Documentaries
Light Reading Hall of Fame 2016

5|23|16   |   05:43   |   (0) comments


Find out who has been welcomed into Light Reading's Hall of Fame this year.
LRTV Custom TV
ZTE TM Forum Highlights

5|23|16   |     |   (0) comments


ZTE showcased its new ICT solutions at TM Forum in Nice.
LRTV Interviews
Gamma's MD on the Emergence of UC2

5|20|16   |     |   (0) comments


Gamma Communications Managing Director David Macfarlane believes the unified communications (UC) market has reached a tipping point.
LRTV Custom TV
The Ultimate 5-Minute Guide to Digital Customer Engagement

5|20|16   |     |   (0) comments


In this short video, you will hear all about how Digital Customer Engagement is the key to meeting customer expectations, keeping them happy, and maximizing revenue. VP Product & Marketing at Pontis, Ofer Razon, breaks down for us the five essential capabilities for successful Digital Customer Engagement. Don’t miss!
LRTV Custom TV
NFV in 2016: Part 1 – NFV Use Cases Get Real

5|19|16   |   05:57   |   (0) comments


Consensus is building around the key use cases for NFV, including managed IP services at the network edge and on customer premises, which can generate new revenues from enterprises/SMBs and consumers; Evolved Packet Core to support LTE migration; and adjacent technologies, such as TAS and IMS, to support VoLTE and next-generation charging and policy control ...
LRTV Custom TV
Nokia's Steve Vogelsang on NFV – Part 3

5|19|16   |     |   (0) comments


Steve Vogelsang discusses the challenges of operational transformation and how Nokia helps its customers. Join Steve at the Big Communications Event in Austin the morning of May 24, on his keynote and optical networking panel.
LRTV Interviews
Level 3: Why UC Is In Demand

5|17|16   |   04:12   |   (1) comment


Andrew Edison, Level 3's senior VP of sales, EMEA region, talks about the drivers of growth in the unified communications services market.
LRTV Custom TV
ARM's OPNFV Action

5|17|16   |     |   (0) comments


At the ARM booth at MWC 2016, Joe Kidder and Bob Monkman speak to Light Reading about OPNFV and their upcoming action.
LRTV Custom TV
Nokia's Steve Vogelsang on NFV – Part 2

5|16|16   |     |   (0) comments


Steve Vogelsang gives advice to service providers on how to move to NFV. Join Steve at the Big Communications Event in Austin the morning of May 24, on his keynote and optical networking panel.
LRTV Interviews
Interoute CTO on NFV's Maturity

5|13|16   |   06:46   |   (1) comment


Matt Finnie, CTO at international operator Interoute, explains how NFV has made life easier in terms of logistics and how Interoute can now enable a 'software-defined moment' for its customers.
LRTV Huawei Video Resource Center
UBBS 2016 Highlights

5|12|16   |     |   (0) comments


Highlights of Huawei's UBBS event in Hong Kong.
Upcoming Live Events
September 13-14, 2016, The Curtis Hotel, Denver, CO
December 6-8, 2016,
June 16-18, 2017, Austin Convention Center, Austin, TX
All Upcoming Live Events
Infographics
A new survey conducted by Heavy Reading and TM Forum shows that CSPs around the world see the move to digital operations as a necessary part of their overall virtualization strategies.
Hot Topics
WiCipedia: Short Skirts & Back-Up Plans
Eryn Leavens, Special Features & Copy Editor, 5/20/2016
AT&T to Start 5G 'Friendly' Trial by 2016 End
Dan Jones, Mobile Editor, 5/24/2016
Google Doubles Down on Machine Learning, AI
Mitch Wagner, West Coast Bureau Chief, Light Reading, 5/19/2016
Eurobites: Be More European, EU Tells Streaming Services
Paul Rainford, Assistant Editor, Europe, 5/20/2016
Like Us on Facebook
Twitter Feed
BETWEEN THE CEOs - Executive Interviews
In this latest installment of the CEO Chat series, Craig Labovitz, co-founder and CEO of Deepfield, sits down with Light Reading's Steve Saunders in Light Reading's New York City office to discuss how Deepfield fits in with the big data trend and more.
Grant van Rooyen, president and CEO of Cologix, sits down with Steve Saunders, founder and CEO of Light Reading, in the vendor's New Jersey facility to offer an inside look at the company's success story and discuss the importance of security in the telecom industry.
Animals with Phones
Live Digital Audio

Our world has evolved through innovation from the Industrial Revolution of the 1740s to the information age, and it is now entering the Fourth Industrial Revolution, driven by technology. Technology is driving a paradigm shift in the way digital solutions deliver a connected world, changing the way we live, communicate and provide solutions. It can have a powerful impact on how we tackle some of the world’s most pressing problems. In this radio show, Caroline Dowling, President of Communications Infrastructure & Enterprise Computing at Flex, will join Women in Comms Director Sarah Thomas to discuss the impact technology has on society and how it can be a game-changer across the globe; improving lives and creating a smarter world. Dowling, a Cork, Ireland, native and graduate of Harvard Business School's Advanced Management Program, will also discuss her experience managing an international team focused on innovation in an age of high-speed change.