Total amount raised
$5.3 Billion
Latest funding date
2/1/2024
Location
Lyft has raised funding over 25 rounds, with the latest being a Post-IPO Debt round. The company is backed by 93 investors, including BluePointe Ventures and Manhattan Venture Partners.
Lyft has also made strategic investments and acquisitions, such as investing in Argo AI and acquiring TBR Global Chauffeuring. Keep reading to explore the intricacies of Lyft's fundraising journey and the investors backing this innovative platform.
What Is Lyft?
Lyft, headquartered in San Francisco, California, is a leading ride-hailing service that offers car rentals, bike, and scooter-sharing through its mobile app. The company operates in the ride-sharing, transportation, and mobile app industries.
Founded by Logan Green and John Zimmer, Lyft employs between 1001 and 5000 people. The company is publicly traded under the ticker NASDAQ:LYFT and has raised significant funding through multiple rounds.
How Much Funding Has Lyft Raised?
- Funding Round: Series H
- Amount Raised: USD 1,000,000,000
- Date: October 2017
- Lead Investors: CapitalG
- Valuation at Round: USD 11,000,000,000
- Motivation Behind the Round: To expand market coverage and enhance self-driving technology partnership with Waymo.
- Funding Round: Series H
- Amount Raised: USD 500,000,000
- Date: December 2017
- Lead Investors: CapitalG, Rakuten
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and technology development.
- Funding Round: Series H
- Amount Raised: USD 1,106,778
- Date: December 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and strategic initiatives.
- Funding Round: Corporate Round
- Amount Raised: USD 200,000,000
- Date: March 2018
- Lead Investors: Magna International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance strategic partnerships and expand services.
- Funding Round: Series I
- Amount Raised: USD 600,000,000
- Date: June 2018
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and market expansion.
- Funding Round: Secondary Market
- Amount Raised: Not publicly disclosed
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Funding Round: Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic initiatives.
- Funding Round: Post-IPO Debt
- Amount Raised: USD 400,000,000
- Date: February 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To raise capital for expansion and operational costs.
- Funding Round: Post-IPO Debt
- Amount Raised: USD 450,000,000
- Date: September 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic initiatives and operational costs.
Total Amount Raised: USD 3,151,106,778. Current Valuation: Not publicly disclosed.
Key Investors
- CapitalG
- Details: CapitalG is Alphabet's growth-focused investment fund. David Lawee, a partner at CapitalG, joined Lyft's board as part of their investment deal.
- Investment Focus Areas: Technology, innovative companies, growth-stage investments.
- Notable Investments: Uber, Airbnb, Stripe.
- Fidelity
- Details: Fidelity is a multinational financial services corporation known for its mutual funds and brokerage services. It has a strong presence in the investment management industry.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: SpaceX, Uber, Palantir.
- Magna International
- Details: Magna International is a leading global automotive supplier. The company provides a wide range of services including vehicle engineering and contract manufacturing.
- Investment Focus Areas: Automotive, manufacturing, technology.
- Notable Investments: Waymo, Innoviz Technologies, Lyft.
- Rakuten
- Details: Rakuten is a Japanese electronic commerce and online retailing company. It operates Japan's largest e-commerce site and has a significant global presence.
- Investment Focus Areas: E-commerce, fintech, digital content.
- Notable Investments: Pinterest, Lyft, Cabify.
- BluePointe Ventures
- Details: BluePointe Ventures is a venture capital firm that participated in Lyft's Post-IPO Equity funding round. The firm focuses on early to growth-stage investments.
- Investment Focus Areas: General venture capital investments.
- Notable Investments: Lyft, other early to growth-stage companies.
What's Next for Lyft?
Lyft's future is brimming with opportunities, particularly in expanding its ride-hailing services and integrating self-driving technology. The company has already increased its U.S. coverage to 95% of the population, showcasing its potential for further growth. With significant financial backing, including a $1 billion funding round led by CapitalG, Lyft is well-positioned to attract more investments and continue its expansion.
Future fundraising opportunities are likely, given the involvement of major investors like Alphabet. These funds could support advancements in autonomous vehicle technology and strategic acquisitions. However, Lyft will face challenges such as intense competition from Uber, legal and regulatory hurdles, and the need to maintain service quality while scaling operations.
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