Cargo, a NYC-based provider of in-car commerce for ride-share companies, secured $22m in Series A financing.
The round was led by Founders Fund with participation from:
– Coatue Management
– Aquiline Technology Growth
– Mark Pincus, Founder of Zynga
– Vivi Nevo, Israeli-American Venture Capitalist
– Colin Carrier, Former Twitch CSO
– Emil Michael, Uber’s former Chief Business Officer
– Josh Mohrer, Uber’s former General Manager of New York City
– William Barnes, Uber’s former General Manager of West Coast
– David Stern, former NBA Commissioner
– Paul Rosenberg, CEO of Def Jam Records
– Steve Aoki, American Electro House Musician, record producer, DJ, and music executive
– Patrick Schwarzenegger, American Actor
– Christina Schwarzenegger, American TV Producer
– Maria Shriver, American journalist, Author, and Former First Lady of California
In conjunction with the funding, Cyan Banister, a partner at Founders Fund, is joining Cargo’s Board.
The company intends to use the funds to continue scaling its domestic and international businesses, while offering riders new digital services that improve their on-trip experience.
Led by Jeff Cripe, Founder and CEO, Cargo provides in-car commerce to rideshare companies. Since launching in July 2017, the company has activated more than 12,000 drivers across ten cities to provide a premium experience to riders acquiring products in-car from brands like Kellogg’s, Mars Wrigley Confectionery, The Coca-Cola Company, and Red Bull and earn an additional income.
Riders can order products (free and for purchase) from Cargo’s mobile web menu on their smartphones, without downloading an app.
The financing follows an exclusive global partnership with Uber and an international licensing deal with Grab.