& 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
Cisco's Conrad Clemson, recently promoted to head up the company's Service Provider Apps & Platforms developments, talks to Light Reading's Founder and CEO Steve Saunders about how he's bringing cloud video, mobile and virtualization together to empower network operators.
Flash Poll
Live Streaming Video
Charting the CSP's Future
Six different communications service providers join to debate their visions of the future CSP, following a landmark presentation from AT&T on its massive virtualization efforts and a look back on where the telecom industry has been and where it's going from two industry veterans.
LRTV Interviews
Heavy Reading: The Web-Scale View

1|18|17   |     |   (0) comments


At Light Reading's 2020 Vision Executive Summit in Rome, Heavy Reading's former chief analyst Patrick Donegan shared insight from the recent web-scale operators report, which featured research on how web-scale operators view the market, the best web-scale companies to ...
LRTV Custom TV
Cisco's Cloud Scale Networking: Automation, Virtualization & Simplification

1|18|17   |     |   (0) comments


Cisco's Sanjeev Mervana outlines the latest innovations in networking technology at CES 2017 in Las Vegas.
LRTV Custom TV
ADVA Talks Innovation & the Future of Networking

1|17|17   |     |   (0) comments


Ray Le Maistre and Christoph Glingener, CTO of ADVA Optical Networking, discuss the current state of the industry, cooperation and collaboration, open innovation and the future of networking.
LRTV Custom TV
Cisco's Infinite Video Platform

1|17|17   |     |   (0) comments


Cisco's Infinite Video Platform allows service providers to deliver broadcast-quality video over IP networks. Infinite video supports many devices, from 4K TVs to tablets to game consoles. Join Cisco's Rajeev Raman for a brief tour and live demo.
LRTV Interviews
Masergy: Ability to Adapt Key for NFV

1|16|17   |   6:40   |   (0) comments


Speaking at Light Reading's 2020 Vision in Rome, Masergy's VP, Global Technology, Ray Watson, said agility is key to providing the mix and match NFV-based services that are driving business for the managed service provider today.
LRTV Interviews
Equinix: The Data Explosion

1|13|17   |   4:16   |   (0) comments


At Light Reading's 2020 Vision in Rome, Eric Schwartz, president of EMEA, Equinix, talked about how Equinix is helping its customers manage the influx of data today, and how it's preparing for a future filled with millions of connected IoT devices.
LRTV Interviews
Heavy Reading: The Changing Data Center Landscape

1|12|17   |   6:05   |   (1) comment


At Light Reading's 2020 Vision event in Rome, Heavy Reading's Senior Analyst Roz Roseboro talks about how virtualization is impacting data center evolution and how that evolution is affecting the relationship between service providers, data center operators and public cloud providers.
LRTV Interviews
Boingo: Prepping for Millions of Devices

1|12|17   |   5:07   |   (1) comment


At Light Reading's 2020 Vision in Rome, Boingo's CTO Derek Peterson discusses how wireless operators will address the needs of low-bandwidth and high-bandwidth apps at the same time, the need for more MHz, the impact of IoT and more.
LRTV Interviews
Comcast Shows Off Gig Gateway at CES

1|11|17   |     |   (1) comment


With its largest presence at CES in years, Comcast took the wraps off its long-awaited gigabit gateway and a new platform for managing the home WiFi network. Light Reading Senior Editor Mari Silbey sat down with EVP Chris Satchell to discuss the latest Comcast advance, and met with VP of Product Strategy and Development Andrea Peiro to walk through a demo of the ...
LRTV Interviews
Colt: End-to-End Key for 2017

1|10|17   |   6:21   |   (0) comments


At Light Reading's 2020 Vision Executive Summit in Rome, Nico Fischbach of Colt said having a multi-carrier, end-to-end service proposition is going to be key for 2017 -- and SD-WAN is instrumental in making it happen.
From the Founder
Cisco's Clemson on Mobile Cloud Video

1|9|17   |     |   (1) comment


Cisco's Conrad Clemson, recently promoted to head up the company's Service Provider Apps & Platforms developments, talks to Light Reading's Founder and CEO Steve Saunders about how he's bringing cloud video, mobile and virtualization together to empower network operators. "If you think about where we're going… whether it's a mobile application, or a video ...
LRTV Custom TV
VMware Telco NFV Solutions – Preparing for 5G & IOT

1|9|17   |     |   (0) comments


Shekar Ayyar, EVP & Corporate Strategy/General Manager of Telco for VMware, discusses VMware's Telco NFV solutions role and foundation for the Imminent Arrival of 5G & IOT.
Upcoming Live Events
March 21-22, 2017, The Curtis Hotel, Denver, CO
May 15-17, 2017, Austin Convention Center, Austin, TX
All Upcoming Live Events
Infographics
Hot Topics
A Women in Comms Glossary
Sarah Thomas, Director, Women in Comms, 1/18/2017
Is Cable One Beefing Up for Slaughter?
Alan Breznick, Cable/Video Practice Leader, Light Reading, 1/20/2017
Nokia CTO: 2017 Is the Year 5G Gets in the Field
Dan Jones, Mobile Editor, 1/19/2017
TV's Paradox: No HDR Without 4K
Mari Silbey, Senior Editor, Cable/Video, 1/17/2017
Cable Has One Thing Verizon Needs
Mari Silbey, Senior Editor, Cable/Video, 1/17/2017
Like Us on Facebook
Twitter Feed
BETWEEN THE CEOs - Executive Interviews
Light Reading founder and CEO Steve Saunders chats with Sportlogiq CEO Craig Buntin about sports data analysis.
Eyal Waldman, CEO of Mellanox Technologies, speaks to Steve Saunders, CEO of Light Reading, for an exclusive interview about the 100 GB cable challenge, cybersecurity and much more.
Animals with Phones
Live Digital Audio

Playing it safe can only get you so far. Sometimes the biggest bets have the biggest payouts, and that is true in your career as well. For this radio show, Caroline Chan, general manager of the 5G Infrastructure Division of the Network Platform Group at Intel, will share her own personal story of how she successfully took big bets to build a successful career, as well as offer advice on how you can do the same. We’ll cover everything from how to overcome fear and manage risk, how to be prepared for where technology is going in the future and how to structure your career in a way to ensure you keep progressing. Chan, a seasoned telecom veteran and effective risk taker herself, will also leave plenty of time to answer all your questions live on the air.