Ridecell Valuation, Funding & Investors
Ridecell is valued at $253M as of November 2018.
Last Ridecell valuation
$253M
Series B · Nov 2018
Last Ridecell funding round
$45M
Series C · Dec 2020
Cumulative funding Ridecell raised
$129M
across 5 funding rounds
Key investors in Ridecell
Initialized Capital
Activate Capital Partners
Cox Automotive
Khosla Ventures
Mitsui & Co
BMW i Ventures
About Ridecell
Ridecell is a San Francisco-headquartered provider of IoT fleet automation for shared mobility, rentals, and logistics across North America and Europe. The platform combines data insights with vehicle control for clients including Ferrovial Services, Groupe Renault, AAA Gig Car Share, and Toyota Sweden. Ridecell maintains offices in Madrid, Paris, Berlin, and Pune, India, enabling automated workflows since its 2011 founding.
Founded
2009
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$253M (Nov 2018)
Ridecell Valuation
Ridecell is currently valued at $253M, based on its Series B in November 2018.
The $28M round was led by Activate Capital Partners and Cox Automotive.
Ridecell's valuation has grown 2.4x from $106M at its Series A in April 2016 to $253M in November 2018, across 2 priced rounds.
Ridecell valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2018 | Series B | $253M |
| Apr 2016 | Series A | $106M |
Ridecell Funding History
Ridecell has raised a total of $129M across 5 funding rounds.
Ridecell's first fundraising round was a $16M undisclosed-stage round in July 2015. The most recent completed round was a $45M Series C in December 2020.
Ridecell funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2020 | Series C | R136 Ventures (lead); LG Technology Ventures; Initialized Capital; Denso; Activate Capital Partners; Solasta Ventures | $45M | - | Ridecell is a San Francisco-based provider of a high-yield fleet platform for digital transformation, enabling mobility-as-a-service (MaaS) including car-sharing, ride-sharing, fixed-route and dynamic transit services. The platform supports commercial fleets with safe driver experiences, 24/7 self-service operations, touch-less monetization, and automation to reduce operational expenses, particularly accelerated by COVID-19 demands. Ridecell serves leading global fleets and operators, helping reimagine transportation in cities, communities, and campuses, with offices in Spain, France, Germany, and India. On December 2, 2020, Ridecell announced a $45 million Series C financing round, led by new investor Fort Ross Ventures (also referred to as R136 Ventures in some sources), with participation from new investor Solasta Ventures and existing investors Activate Capital, DENSO, LG Technology Ventures, and Initialized Capital. The funds aim to support hyper-growth into commercial fleet product lines and new geographies, capitalizing on pandemic-driven needs for digital fleet access and contactless commerce. Ridecell has raised over $120 million across multiple rounds prior to this, with total funding exceeding $130 million including this Series C, from 37 investors. Earlier rounds included a Series B of approximately $60.86 million in 2018 at a post-money valuation of $252.51 million. The company acquired Auro Robotics, a self-driving shuttle service, in 2017. |
| Nov 2018 | Series B | Activate Capital Partners (lead); Cox Automotive (lead) | $28M | $253M | Ridecell Inc. is a software platform for managing mobility services including carsharing, ridesharing, and autonomous fleet operations. The company was founded in 2009 and had processed over 20 million rides and rentals by mid-2018, with a team of more than 100 professionals across the US, Europe, Asia, and Australia. The platform powers mobility offerings from major automotive and transportation companies including ReachNow (BMW Group), ZITY (Groupe Renault and Ferrovial), and GIG Carsharing (AAA). In May 2018, Ridecell closed an initial Series B round of $28.61 million led by Cox Automotive with participation from Initialized Capital and industry partners including DENSO, Penske, Deutsche Bahn, and Mitsui. This round was subsequently expanded on November 13, 2018, to a total of $60.86 million, with Activate Capital leading the expanded portion and additional investors joining including Munich Re's ERGO fund, LG Technology Ventures, BNP Paribas, Sony Innovation Fund, Ally Ventures, and Khosla Ventures. The November 2018 Series B brought the post-money valuation to $252.51 million. The company had also acquired Auro Robotics in October 2017, a self-driving shuttle service that subsequently received California DMV approval to test autonomous vehicles on public roads, initially using Ford Fusion platforms as test vehicles. |
| Jun 2018 | Series B | Cox Automotive (lead); Penske Automotive; Deutsche Bahn Digital Ventures; DENSO International America; Mitsui & Co | $29M | - | Ridecell, founded in 2009, provides a cloud-based platform for carsharing, ridesharing, and autonomous fleet operators, powering services like ReachNow from BMW Group, ZITY by Renault and Ferrovial, and GIG by AAA. By May 2018, the company had processed over 20 million rides and rentals with a team exceeding 100 professionals across the US, Europe, Asia, and Australia. On May 31, 2018, Ridecell closed its Series B funding round of $28.61 million, led by Cox Automotive with participation from Initialized Capital and strategic investors including DENSO International America, Penske Automotive Group, Deutsche Bahn Digital Ventures, and Mitsui & Co. The funding aimed to enhance scalability and profitability in the mobility ecosystem transitioning toward autonomous vehicles. Later in November 2018, Ridecell expanded the same Series B round to over $60 million, adding investors like Activate Capital (lead), Munich Re’s ERGO Fund, LG Technology Ventures, BNP Paribas, Sony Innovation Fund, Ally Ventures, and Khosla Ventures. This expansion supported development of its mobility platform for carsharing to autonomous ridehailing, following the acquisition of self-driving startup Auro in 2017 and receipt of a California DMV permit for autonomous testing on Ford Fusion vehicles. Ridecell's investors spanned automotive, fleet management, insurance, and transportation sectors, providing strategic insights into the evolving mobility market. |
| Apr 2016 | Series A | BMW i Ventures (lead); Mehul Nariyawala; Maniv Mobility; Navneet Dalal; Initialized Capital; Michael Granoff; Khosla Ventures; Block; Mark Platshon | $12M | $106M | Ridecell provides software to power mobility-as-a-service (MaaS), including car-sharing, ride-sharing, fixed-route, and dynamic transit services. Its platform automates end-to-end fleet operations from consumer apps to fleet management, demand analytics, CRM, and payments, enabling customers to launch and scale services efficiently. Clients include BMW, Santa Clara VTA, 3M, UC Berkeley, UCSF, and SouthWest Transit. On April 8, 2016, Ridecell raised $11.7 million in a Series A round led by BMW i Ventures, with participation from Khosla Ventures and angels including Mark Platshon, Michael Granoff, Gokul Rajaram, Mehul Nariyawala, and Navneet Dalal. The post-money valuation was $105.93 million. Prior investments brought total funding to $17 million at that point. Funds supported team expansion in engineering, data science, product, marketing, and sales to grow its client base. Ridecell's technology partnered with BMW for efficient car-share fleet operations, such as optimizing routes for low-battery vehicles. The company, a Y Combinator alum headquartered in San Francisco, positioned itself as a leader in autonomous fleet operations for urban mobility providers, cities, and campuses. |
| Jul 2015 | Undisclosed stage | - | $16M | - | - |
Who has invested in Ridecell?
19 investors have backed Ridecell across its funding rounds, including Initialized Capital, Activate Capital Partners, Cox Automotive, Khosla Ventures, Mitsui & Co and BMW i Ventures.
Lead investors include R136 Ventures, Activate Capital Partners, Cox Automotive and BMW i Ventures.
Ridecell Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 2 | Participant | Apr 2016 | |
| San Francisco, CA | 2 | Lead | Nov 2018 | |
| Atlanta, GA | 2 | Lead | Jun 2018 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Mehul Nariyawala | United States | 1 | Participant | Apr 2016 |
 Tel Aviv | 1 | Participant | Apr 2016 | |
 George Town | 1 | Lead | Dec 2020 | |
| Detroit, MI | 1 | Participant | Jun 2018 | |
| San Jose, CA | 1 | Participant | Dec 2020 | |
| San Francisco, CA | 1 | Participant | Apr 2016 | |
| Michael Granoff | Tel Aviv | 1 | Participant | Apr 2016 |
| San Francisco, CA | 1 | Participant | Apr 2016 | |
 Berlin | 1 | Participant | Jun 2018 | |
 Detroit, MI | 1 | Participant | Dec 2020 | |
This data is available for Pro users. Sign up to see all 19 Ridecell investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Ridecell
Ridecell has acquired 1 company to date.
Last acquisition by Ridecell was on October 6th 2017. Ridecell acquired Auro Robotics for $20M.
Latest Acquisitions by Ridecell
| Description | Auro Robotics is a Singapore-headquartered developer of autonomous electric shuttles designed for campus and site mobility at universities, factories, airports, and theme parks. The Navya-based shuttles operate without drivers on predefined routes, carrying up to 11 passengers at speeds of 25 km/h. Deployments include trials at Singapore Management University and industrial parks in Tamil Nadu, India. The technology integrates LiDAR sensors, GPS, and AI for obstacle avoidance, reducing operational costs by eliminating driver salaries compared to golf carts. |
| HQ Country | |
| HQ City | San Jose, CA |
| Deal Date | 6 Oct 2017 |
| Valuation | $20M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Ridecell acquisitions and their M&A valuation multiples. Start Free Trial | |
Ridecell Competitors
Ridecell competitors include listed companies like Wuxi Boton Technology and EROAD, and private ones like Yulu, Platform Science, StradVision and Phantom Auto.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Bangalore | Private | $30M | - | $170M | - | |
| San Diego, CA | Private | - | - | $575M | - | |
 China | Publicly listed | $516M | $55M | $1.3B | - | |
 New Zealand | Publicly listed | $107M | ($62M) | $109M | 1.1x | |
 Seoul | Private | $32M | - | $279M | 8.7x | |
| United States | Private | $37M | - | $500M | 13.5x |
Ridecell Public Comps
Ridecell is still privately-owned, but its public comps include SAIMO, Immersion, Creotech Quantum, Duos Technologies, Xperi, Lantronix, Nelco, Dimerco Data System, Smart Eye and Soracom.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $39M | $21M | 5.3x | - | 10.0x | - | |||
| $1.7B | $69M | 0.3x | 0.3x | 8.4x | - | |||
| $3M | ($450K) | 100.5x | 57.0x | (582.5x) | (92.5x) | |||
| $27M | ($7M) | 5.8x | 3.4x | (21.7x) | 25.8x | |||
| $448M | $5M | 0.5x | 0.5x | 54.0x | 3.1x | |||
| $121M | ($872K) | 1.8x | 1.8x | (251.9x) | 31.9x | |||
| $32M | $3M | 7.4x | - | 78.7x | - | |||
| $107M | $25M | 1.8x | - | 7.7x | - | |||
This data is available for Pro users. Sign up to see all Ridecell competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Ridecell
| When was Ridecell founded? | Ridecell was founded in 2009. |
| Where is Ridecell headquartered? | Ridecell is headquartered in San Francisco, CA, United States. |
| Is Ridecell publicly listed? | No, Ridecell is a private, VC-backed company. |
| What is Ridecell's valuation? | Ridecell was last valued at $253M in its Series B in November 2018. |
| How much funding has Ridecell raised? | Ridecell has raised $129M across 5 funding rounds. |
| What was Ridecell's last funding round? | Ridecell's last funding round was a $45M Series C in December 2020, led by R136 Ventures. |
| Who are Ridecell's investors? | Ridecell's investors include Initialized Capital, Activate Capital Partners, Cox Automotive, Mehul Nariyawala, Maniv Mobility, R136 Ventures, Penske Automotive, LG Technology Ventures, Navneet Dalal, Michael Granoff and 9 others. |
| Which companies are comparable to Ridecell? | Companies comparable to Ridecell include Yulu, Platform Science, Wuxi Boton Technology, EROAD, StradVision and Phantom Auto. |
| How many companies has Ridecell acquired? | Ridecell has acquired 1 company, including Auro Robotics. |
| What was the largest acquisition by Ridecell? | The $20M acquisition of Auro Robotics in October 2017 is the largest acquisition Ridecell has made to date. |
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