Israel-based Gett, which connects business customers to
ground transportation options worldwide, has completed a $100 million
fundraising round.
In a blog post announcing the news, the company did not name
funders, but said it includes “several new and existing investors.”
Prior to this
round, the company had raised more than $800 million in funding including $300
million from Volkswagen.
Founded in 2010, Gett now serves more than 17,000 corporate
customers, including one-third of the Fortune 500. Its SaaS cloud solution
consolidates any transportation vendors, including ride-hailing, taxi,
chauffeur and limousine services, in a single booking platform that works
across 100 countries.
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The company became operationally profitable in December 2019
across each of its transportation, delivery and shuttle product lines. In the
blog post, the company says it also reached profitability in each of its core
markets in June and as of today is fully funded.
“The way people move around in cities is changing
dramatically as a result of COVID-19 and businesses are seeking to optimize
costs and to put in place efficient and safe ground travel solutions for their
employees. Our mobility software is helping businesses thrive by empowering
people to be their best on the go,” says Dave Waiser, Gett CEO.
“Being fully funded and reaching a key milestone in our
profitability journey, is an important step for the Company. The proceeds will
help us grow our unique corporate SaaS platform internationally, while we
consider an IPO in the future, to further accelerate our expansion.”
And says Gett chairman Amos Genish: “The completion of the
fundraising during the pandemic is a clear expression of confidence by our
shareholders and new investors in Gett’s vision to focus on the corporate
market and its plan to expand globally, as well as in the Company’s strong
operational and financial performance.”