BMW i Ventures Announces Investment In Bus.Com
April 5, 2017 by BMWMountain View – April 5, 2017…BMW i Ventures has announced an investment in Bus.com, formerly ShareTheBus, an emerging startup that removes the complexity of renting a bus and coordinating group transportation anywhere in the US and Canada, and is set on revitalizing the outdated charter bus space. They offer instant online bus rental, GPS bus tracking, passenger management tools, online ticketing, and more. Bus.com, formerly Sharethebus, raised Series A funding of $5 million. The round was led by Jackson Square Ventures with participation from BMW i Ventures, Real Ventures and Y Combinator. Funds will be invested to improve the booking technology, rider experience, bus supplier operations, as well as fuel growth. 'Better busing is fundamental to the future of travel.' Kyle, CEO of Bus.com says. 'Buses are the best way to mobilize entire communities, including music and sports fans, political rallies, university students. We are enabling and enhancing the bus travel experience.' The bus transportation market is a $6B industry in the US and Canada, with the charter space accounting for $4B of it. 82% of charter bus companies are owned by small operators with under 10 buses. Service standards and pricing varies dramatically from company to company, and consumer innovation is not happening to meet changing demands. Bus.com will unify and empower their businesses, allowing them to access new markets and deliver an experience that delights their rider and supersedes large competitors. 'Innovation in the highly fragmented busing market in the US and Canada is a necessary and key component of improving mobility. BMW i Ventures is committed to investing in this kind of visionary innovation and we look forward to working with Kyle and his team to bring their vision to reality.' Christian Noske, Partner at BMW i Ventures. About BMW i Ventures BMW i Ventures, BMW's EUR 500 Mio venture capital fund, invests money and resources in startups the fields of autonomous driving, digital car and automotive cloud, e-mobility, artificial Intelligence and data, industry 4.0, shared and on-demand mobility, customer digital life, and energy services. The firm has already partnered with innovative companies such as Carbon3D, Chargepoint, JustPark, Life360, Moovit, Nauto, Scoop, Stratim, Turo and Zendrive. BMW i Ventures invests in all stages from seed and incubation to growth companies and operates from offices in Mountain View, San Francisco, New York, and Munich. For more information, visit https://www.bmwiventures.com About Bus.com
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Bus.com has moved over 150,000 people across 3000 bus trips in 37 states and 3 countries. They have worked with top event producers from Live Nation, AEG, Huka Entertainment, as well as student organizers from Harvard, Yale, MIT, and 150 others. Bus.com was founded by Wolf Kohlberg and Kyle Boulay in February 2015.
