gett Raises $115M to Expand Business Ride-Hailing Platform

With ride-hailing businesses such as Uber and Lyft adapting to evolving transportation needs—characterized by reduced discretionary travel and ongoing health concerns regarding enclosed, shared vehicles—a smaller company specializing in services for corporate clients has announced a new round of investment.

Gett, initially a competitor to Uber and Lyft, now primarily delivers ground transportation solutions for businesses in major global cities. The company announced it has secured $115 million in funding. Co-headquartered in London and Israel, Gett also reported achieving operational profitability and meeting its financial objectives.

Pelham Capital Investments Ltd. spearheaded the funding, with participation from existing, unnamed investors.

This latest investment brings Gett’s total funding to $865 million. Previous investors include VW, Access and its founder Len Blavatnik, Kreos, MCI, and others. The company’s last reported valuation was $1.5 billion, established during a $200 million funding round in May 2019. Current valuation figures and recent customer data were not disclosed.

Gett’s founder and CEO, Dave Waiser, described the funding as an extension of a prior $100 million equity investment announced in July of the previous year.

According to Chairman Amos Genish, the funding round was oversubscribed, “demonstrating market confidence in our platform and long-term strategy. Gett is revolutionizing a fragmented market, consistently delivering crucial cost savings and enhanced client satisfaction.”

For several years, the company has concentrated on the B2B sector—a strategic move to avoid direct competition with major players like Uber—and this new funding will further support that focus.

Originally founded in 2010 as GetTaxi, Gett previously attempted a business model encompassing both individual consumers and premium users. Today, however, the company’s core strategy centers on serving corporate accounts.

Gett offers businesses’ employees a user-friendly, app-based platform for easily booking transportation services while traveling. This provides businesses with a centralized system for managing, tracking, and analyzing travel expenditures, replacing a previously fragmented approach using various local services. The company asserts it can reduce transportation costs for businesses by 25%-40%.

The company’s network previously encompassed approximately 1,500 cities. In select metropolitan areas, such as London and Moscow, Gett directly provides transportation services. In other markets, including the U.S. and New York, it collaborates with third-party providers like Lyft.

“We are dedicated to reshaping corporate ground travel, and we are pleased that investors recognize the value of our approach,” Waiser stated. “This investment will enable us to further refine our SaaS technology and strengthen our offerings within the corporate ground travel market.”

Updated to reflect that this is an extension of the $100 million funding round.