San Francisco – Uber, the San Francisco-based developer of an on-demand car service, said it has raised $32 million in its second round of funding, led by Menlo Ventures. Goldman Sachs, Bezos Expeditions and returning investors Benchmark Capital and Lowercase Capital also participated.
The company said it will use the proceeds to fuel expansion across North America, Europe and Asia.
Uber lets clients request a car by either texting their address or using the company’s iPhone or Android apps to set their pickup location on a map. The company then texts back an estimated arrival time, which is usually within 5-10 minutes of the request. When the ride is over, Uber automatically charges a client’s credit card on file, with the tip already included.
This article was also published in Bay Area Tech Wire.
Related links:
http://blog.uber.com/2011/12/07/were-going-global-with-big-funding
http://www.menlovc.com/news_details.html?id=72
Photo of Uber co-founders Garrett Camp, left, and Travis Kalanick courtesy of Uber
