InMotion Ventures, the venture capital business powered by Jaguar Land Rover, has completed a seed investment in enterprise-focused ride-sharing platform SPLT.
SPLT is a car pool service that enables employees at large organisations to connect and share the drive to and from work, using their own vehicles. The platform’s ride-matching algorithm allows lifts to be dynamically arranged in seconds within a trusted community of commuters, saving time and money for both employees and employers as well as combatting traffic and parking issues.
SPLT (Splitting Fares, Inc), a 2015 Techstars Mobility graduate, was founded by Anya Babbitt and Yale Zhang. The Detroit-based startup currently operates in five major US cities, serving over 100,000 users, and recently established a partnership with Lyft to provide non-emergency medical transport. SPLT has just opened an office in Mexico City, and is preparing for European and Latin American expansion next month.
Sebastian Peck, Managing Director at InMotion Ventures, says: “SPLT is a perfect fit for our portfolio, and a hugely exciting business that tackles a universal problem. Making the commute more efficient greatly benefits businesses and their employees.
“SPLT’s move into medical transport demonstrates the significant growth potential of the business, and its innovative model will inform and complement some of our other projects.”
Anya Babbitt, CEO and founder of SPLT, says: “Our platform is already helping thousands of people and this round of funding will allow us to expand even further. InMotion Ventures represents a perfect partner, aligned with our vision of taking SPLT to the next level and fulfilling our mission of sustainable, affordable mobility for all.”
SPLT joins GoKid, the ride-sharing platform for families, in the InMotion Ventures portfolio, following the latter’s completion of a $1m seed round in January 2017.
About InMotion Ventures
InMotion Ventures invests in high-growth companies in the mobility and smart transportation sector. Powered by Jaguar Land Rover, we’re dedicated to backing innovations that will change the way we move.
We invest globally at all stages from Seed to Series B, and our London-based Accelerator programme offers pre-seed investment and hands-on support to 10-15 early stage startups every year.
Alongside our core investment activity, we also collaborate with the Jaguar Land Rover business to develop new products and services that provide unforgettable experiences for both new and existing customers.
The way people and goods move – perhaps more than any other aspect of our lives – is changing at an unprecedented pace. InMotion believes that by harnessing the power of technology, we can tackle the challenges these changes present and make space for the things that matter most; discovering new ways to explore the world around us, spending time with our friends and family and taking back control of our daily lives.
SPLT is an enterprise-first carpool platform changing the way employees commute worldwide. We partner with corporations and develop customized carpooling programs, in a closed network, helping to promote green initiatives, attraction & retention of employees and inter-corporate networking.
The product functions as a 21st century commuter carpool service for employers seeking to provide a much needed transportation solution to employees. SPLT records the amount of CO2 emissions reduced as well as miles saved, helping companies meet CSR requirements. Both employers and employees save real money.
SPLT already has contracts with paying customers, representing over 100,000 employees in total. More recently, SPLT has partnered with Lyft to enter into a new vertical providing transportation to underserved markets.
Cities around the world can benefit from SPLT’s service. The SPLT platform can assist governments and municipalities through reduced traffic and pollution, reduced wear and tear on roads, and enhancements to community building and engagement. SPLT is transforming the way people meet and move worldwide, freeing up hours and cars from our daily commute.