Bloomberg News

RidePal Attracts Venture Funding to Expand Shuttle-Bus Service

September 26, 2013

Corporate shuttles equipped with Wi-Fi and other amenities are a hallmark of Silicon Valley startups. Now a shuttle service called RidePal is attracting venture funding in a bid to succeed as a startup itself.

RidePal, which provides rides to employees of more than 30 companies, announced $3.2 million in funding today from a group led by Claremont Creek Ventures and Volvo Group Venture Capital. Corporate customers of the two-year-old San Francisco-based company include Intuit Inc. (INTU:US) and Groupon Inc. (GRPN:US)

The company aims to capitalize on the proliferation of corporate shuttle buses in Silicon Valley, which can ferry workers from San Francisco and Oakland to the southern reaches of San Jose. In getting employees out of their cars, RidePal is joining companies like Uber and Lyft in trying to disrupt the auto industry’s traditional model of vehicle ownership.

“Every workday millions of people unnecessarily suffer through a long, frustrating twice-daily commute,” Nat Goldhaber, managing director at Claremont Creek Ventures, said in the statement. “A commuter strategy is necessary for companies to attract top talent and keep employees committed. RidePal solves these challenges.”

RidePal provides daily service between 11 cities in the San Francisco Bay area, relying on buses from companies such as Black Tie Transportation and Bauer Transportation.

To contact the reporter on this story: Nick Turner in New York at nturner7@bloomberg.net

To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net


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Companies Mentioned

  • INTU
    (Intuit Inc)
    • $86.72 USD
    • 1.06
    • 1.23%
  • GRPN
    (Groupon Inc)
    • $6.97 USD
    • 0.08
    • 1.15%
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