Hailo picks up $30.6m | Mobile Industry | Mobile Entertainment

Hailo picks up $30.6m

Hailo picks up $30.6m
Zen Terrelonge


Industry / Funding / February 5th 2013 at 11:33AM

Taxi-booking app plans to use funding to speed into New York, Spain and Tokyo.

One of ME's Top 50 Mobile Innovators for 2012, Hailo, has secured a Series B funding round of $30.6 million, which takes total funding past the $50m mark.

The UK mobile taxi-booking company is currently live in ten cities across six countries, and will use the capital to expand into new markets including New York City, Spain and Tokyo, building on sales which are already in excess of $100m.

Japan-based telecoms company KDDI contributed to the funding, and will promote Hailo to its 35m subscribers to get the ball rolling in the Asian market. Tokyo is a big space for the company given that it has 40,000 taxis, while the Japanese market is estimated at $25bn.

Hailo president of EMEA Colm O’Cuilleanain, meanwhile, will oversee the platform launched in Spanish cities Madrid and Barcelona, having overseen a successful launch in Dublin, with additional European capitals to follow.

Jay Bregman, Hailo CEO and co-founder, said: "Hailo is mobilising a massive, global shift in consumer behavior from hail to e-hail which will substantially improve the control passengers and taxi drivers have in their lives.

"We now have the senior team, resources, and the investment and corporate partners to deliver our vision of bringing Hailo to NYC, Tokyo, and every street corner in every major city in the world. We have shifted into overdrive."

Union Square Ventures acted as a backer, and the company's fund partner John Buttrick has now joined the Hailo Board. Of the move, he said: "We first met the Hailo team at the end of 2011, just after they launched in London. The company did a superb job in this market and are now the dominant e-hail application in London by a wide margin. We believe the Hailo platform will develop into a global network and will significantly improve transportation experiences in cities around the world."