Scoop Announces Funding For First Fully-Automated Carpooling Solution to Revolutionize the Commute & Lower Emissions
$5.1M investment led by Signia Venture Partners with participation from Index Ventures, BMW i Ventures and Workday Corporate Ventures
SAN FRANCISCO, May 25, 2016 /PRNewswire/ -- Scoop Technologies, Inc., creators of the groundbreaking carpooling mobile application "Scoop," announced today that the company has raised a $5.1M funding round led by Signia Venture Partners with participation by Index Ventures, BMW i Ventures and Workday Ventures.
Since their launch in August 2015, Scoop commuters have taken 50,000 carpool trips, offsetting 500,000 in commute mileage and lowering carbon emissions by 450,000 pounds. Scoop currently operates commutes into San Francisco, Palo Alto, San Jose, Pleasanton and Sunnyvale.
Scoop's mission is to eliminate traffic and reimagine transportation to give life back to commuters and communities. They partner with major employers, office parks and local governments to offer employees an affordable and effective transportation solution. Scoop corporate partners include Cisco, Salesforce, Workday, Airbnb, Tesla, and Sandisk, representing 200,000+ commuters. The company also works with public organizations like the Bay Area MTC and the Palo Alto TMA.
Scoop's proprietary matching algorithm pairs commuters together for the most efficient carpool trip. The app automatically connects coworkers and neighbors who live and work in the same area. Commuters schedule each trip one way at a time and choose whether to ride or to drive. An average trip costs Riders $6, before any employer subsidies, while Drivers receive an average of $5/passenger. Unlike contract-drivers employed by most ridesharing services, the Drivers in each Scoop carpool are commuters in their own vehicles.
"Scoop is working every day to reduce the impact that traffic has on our lives," said Rob Sadow, CEO of Scoop. Brothers and entrepreneurs Rob and Jon Sadow founded Scoop after years at Bain & Company and Google. "For most employees, the commute is the most frustrating time of the day - it's expensive, unproductive, and stressful. We've built an app that allows commuters to enjoy all the benefits of carpooling without the hassle."
Rick Thompson, Partner at Signia Venture Partners and founder of game developer Playdom, has joined Scoop's Board of Directors.
"With Scoop, the quality of life for commuters in the Bay Area has improved. Getting cars off the road relieves stress and reduces commute times so we can get back to doing what we love." said Thompson. "Commuter congestion is a national opportunity faced by 100 million Americans daily, and Scoop is a simple, yet powerful solution using modern technology and a thoughtful go-to-market strategy. The result is an incredibly easy commuting experience that has as much social impact as it does economic impact."
Additional investors and advisors include David Ko, COO of Rally Health; Dell Entrepreneur-in-Residence Elizabeth Gore; Google veterans Paul McDonald and Brett Slatkin; Russ Fradin, CEO of Dynamic Signal; Zach Weinberg, founder of Flatiron Health; and Signia partner Zaw Thet.
For more information, visit www.takescoop.com.
Scoop Technologies Inc.
Scoop is a software company based in San Francisco. Scoop helps commuters save time, money, the environment, and create new social connections through easy carpooling.
Signia Venture Partners
Signia Venture Partners is an early-stage venture fund dedicated to helping passionate entrepreneurs realize their vision and build impactful, high-growth ventures.
Index Partners
Index Ventures is a multi-stage international venture capital firm that backs the best and most ambitious entrepreneurs.
BMW i Ventures
BMW i Ventures, a corporate venture capital team founded by BMW Group in 2011, provides financing to start-ups and high-growth companies dedicated to shape the future of global mobility.
Video - http://www.youtube.com/watch?v=hiRNRm4Ar9A
SOURCE Scoop Technologies, Inc.
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