Mobility Data Platform Coord Secures $5 Million in Series A Funding
NEW YORK--(BUSINESS WIRE)--Oct 11, 2018--Coord, the mobility data platform, today announced the closing of a $5 million Series A investment. The investment was led by Alliance Ventures, with additional funds coming from Trucks, Urban.Us and DB Digital Ventures. They join previous investor Sidewalk Labs, an Alphabet company.
While continuing to reach developers with their robust suite of self-serve APIs, Coord will use this new financing to scale geographic coverage and accelerate development of a comprehensive solution that helps enterprise customers to optimize their use of transportation infrastructure such as roads, curbs and parking lots.
“We’re excited to support Coord in their mission to make cities more livable by enabling seamless mobility for everyone,” said Ryan Armbrust, Partner at Alliance Ventures. “Coord is building vital digital infrastructure that not only helps existing transportation modes operate more efficiently, but also enables rapid experimentation with new modes like scooter-share and autonomous vehicles.”
Trusted by Google Maps, Zipcar and Mozio, and supporting major US cities such as New York, San Francisco, Los Angeles, Seattle, Washington, D.C. and Chicago, Coord’s suite of APIs helps developers to integrate accurate information about available transportation infrastructure and shared vehicles. For example, Coord can help ride-hail drivers locate a legal curbside pick-up or drop-off zone, reducing tickets and accidents, or enable a navigation app to suggest the most efficient trip options that users can book in app, including a nearby bike or scooter, or help a car-share service bill members for tolls in real-time, giving people a better sense of the true cost of their trip, among many other benefits.
“We are grateful to have the support of a diverse group of investors who see the opportunity to transform the mobility market,” said Stephen Smyth, CEO of Coord. “Alliance Ventures and others bring expertise across the transportation and urban technology sectors that will enable us to accelerate the adoption of mobility solutions in cities throughout North America.”
Coord is a mobility data platform that facilitates the interoperability of transportation infrastructure and services, unlocking seamless trip experiences for people in cities around the globe. Coord wants to improve mobility and expand access to opportunity through the use of technology. Headquartered in New York City, Coord was founded in 2016. Learn more at https://coord.co
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Michelle Chakansky, 646-757-8756
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS INTERNET TRANSPORT RAIL PUBLIC TRANSPORT TRAVEL TRANSPORTATION MOBILE/WIRELESS AUTOMOTIVE GENERAL AUTOMOTIVE
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PUB: 10/11/2018 09:00 AM/DISC: 10/11/2018 09:01 AM