In the News

Flywheel raises $12M for taxi-hailing app; new CEO says company can grow bigger than Uber

Date: 11/20/2014

Company: Flywheel Software

Source: Geekwire

Flywheel has a new executive team, a fresh round of funding, and serious ambitions to scale bigger than competitors like Uber.

The San Francisco-based company, which develops a hailing app for taxi drivers, today announced a $12 million Series C round that pushes total funding past $34 million. Flywheel also named a new executive team led by CEO Rakesh Mathur, a veteran Silicon Valley entrepreneur who has sold companies to Amazon, Dropbox, and OpenTable.

“I totally believe that the taxi industry is here to stay,” Mathur told GeekWire. “It just doesn’t have a unifying app that can provide street hailing of the type that Uber has perfected.”

Flywheel is like Uber and Lyft in many ways. It builds software that helps drivers and passengers connect in an efficient manner, with GPS tracking and mobile payment processing. It makes money on each ride from drivers in exchange for an app that it says helps increase their business.

Read full story at Geekwire

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