Citymapper scoops $40m Series B for “ultimate” transport app
London start-up has announced new plans including launch of 'Caterpillar' and 'Secret Robot' products and extensive hiring in every metro city...
Citymapper, the popular public transport app used by commuters across the world, has announced a $40m Series B round led by Index Ventures, Benchmark Capital, and other high-profile names investors including Michael Lynton, Yuri Milner, and Tom Stafford.
Founded in 2011 by Azmat Usuf, Citymapper's real-time app plots the quickest route between two destinations taking into account all forms of public and private transport, including bus, rail and underground networks, driving and walking.
Having scaled rapidly of late; supported by a $10m Series A round backed by Balderton Capital in April last year, the London-based start-up intends to use the investment to develop its “ultimate transport app” and to launch and develop new and existing features and products.
It will develop its ‘Batcave' feature; a control centre in the background of the app which controls functionality, and will be launching “hush hush products” the ‘SecretRobot' and ‘Caterpillar'.
The company is also pushing a major recruitment drive with plans to take on new hires – particularly general managers – in every “significant metro city in the world”.
In its blog post on the fundraise, the start-up commented:
“We will use the funds to continue our mission of making cities easier to use. We want a big city to feel like a little village. We believe smartphones and city data change how citydwellers get access to knowledge when and where they need it, and interact with their cities. Also.. now we can stock up the fridge.. and buy some robots”.
On comments regarding its unicorn status (companies valued at $1bn or more), the business added:
“We’re not a unicorn. We’re more like a dolphin?.”