This new round values the London-based company at $140 million, multiple sources tell All Things D, with the lead investor likely being Union Square Venture’s Fred Wilson. Hailo raised $17 million from Accel Partners, Wellington Partners, and Atomico in March.
The company offers apps that connect cab drivers with passengers. For cab drivers, it’s a way to fill in potential downtime, and for passengers it’s a way to get cheaper cabs just as easily as Uber’s expensive on-demand town cars.
“The taxi market is the quintessential mobile app. You’re mobile, they’re mobile,” Hailo co-founder and chief executive Jay Bregman told VentureBeat earlier this year. “No one has been able to make big networks of cabs without having the customers. [Drivers are] using this [app] even when there aren’t any customers because the app helps them.”
Developing, refresh for updates.
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