Jul 22, 2020

Gett’s mobile ride-hailing platform for businesses

Gett
Digital Transformation
Mobile
ride-hailing
William Smith
2 min
Tel Aviv, Israel-based Gett differs from other ride-hailing platforms thanks to its focus on business travel
Tel Aviv, Israel-based Gett differs from other ride-hailing platforms thanks to its focus on business travel...

Tel Aviv, Israel-based Gett differs from other ride-hailing platforms thanks to its focus on business travel.

The advent of COVID-19 and the switch to working from home for professionals across the world has seen business travel take one hell of a beating.

That hasn’t deterred Gett, however, whose platform brings all aspects of the experience into one platform, from the hailing itself to invoicing and analytics.

The company’s approach has won it a third of Fortune 500 companies as clients, it says, and has bucked the trend by seeing an increase in corporate sign-ups since COVID-19’s emergence. It put this down to the fact that corporations are upgrading and streamlining transportation solutions.

Since its foundation in 2010, the company has raised over $900mn across 11 funding rounds. Its latest round saw the company raise $100mn from what it called “several new and existing investors.”

In a blog post Dave Waiser, Gett CEO, said: “The way people move around in cities is changing dramatically as a result of COVID-19 and businesses are seeking to optimise costs and to put in place efficient and safe ground travel solutions for their employees. Our mobility software is helping businesses thrive by empowering people to be their best on the go.

“Being fully funded and reaching a key milestone in our profitability journey, is an important step for the Company. The proceeds will help us grow our unique corporate SaaS platform internationally, while we consider an IPO in the future, to further accelerate our expansion.”

Gett said it would invest the proceeds in improving its travel platform.

Amos Genish, Gett Chairman, said: “The completion of the fundraising during the pandemic is a clear expression of confidence by our shareholders and new investors in Gett’s vision to focus on the corporate market and its plan to expand globally, as well as in the Company’s strong operational and financial performance.”

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