The round was led by Sequoia Capital with participation from Graph Ventures and SV Angel. In conjunction with the funding, Sequoia Partner Mike Vernal joined RideOS’ board of directors.
The company intends to use the funds for recruiting, platform research and development, and additional partnerships.
Led by CEO and co-founder Justin Ho and CTO and co-founder Chris Blumenberg, rideOS designs and builds marketplace and mapping services that can be utilized by ride hailing companies, OEMs, and governments to operate fleets of on-demand self-driving vehicle services. Its core services operate in real-time through the cloud and include autonomous vehicle routing, estimated time of arrival (ETA) calculations, dispatch, supply positioning, multi-rider trip planning, and fleet management dashboards.
In conjunction with the funding, the company has partnered with Ford-owned Autonomic, to address key challenges in the area of self-driving vehicle technology. Autonomic, which was acquired by Ford Smart Mobility in 2018 and is a wholly owned subsidiary, created an open cloud-based mobility platform that connects mobility systems with the goal of creating a sustainable transportation network. Autonomic’s Transportation Mobility Cloud allows developers and automakers, in addition to Ford, to connect diverse components of urban mobility systems such as vehicles, mass transit, pedestrians, city infrastructure, and service providers. Through the TMC, rideOS can offer routing and marketplace services to Autonomic’s OEM customers, like Ford.
The partnership will allow both companies to build consistent platforms to accelerate the safe rollout of connected vehicle technology.
FinSMEs
18/06/2018