BMW i Ventures has announced an investment in Bus.com, an emerging startup that removes the complexity of renting a bus and coordinating group transportation anywhere in the US and Canada, and is set on revitalizing the outdated charter bus space.
Bus.com, formerly ShareTheBus, offer instant online bus rental, GPS bus tracking, passenger management tools, online ticketing, and more.
Bus.com raised Series A funding of $5 million. The round was led by Jackson Square Ventures with participation from BMW i Ventures, Real Ventures and Y Combinator. Funds will be invested to improve the booking technology, rider experience, bus supplier operations, as well as fuel growth.
“Better busing is fundamental to the future of travel.” Kyle, CEO of Bus.com says. “Buses are the best way to mobilize entire communities, including music and sports fans, political rallies, university students. We are enabling and enhancing the bus travel experience.”
The bus transportation market is a $6B industry in the US and Canada, with the charter space accounting for $4B of it. 82% of charter bus companies are owned by small operators with under 10 buses. Service standards and pricing varies dramatically from company to company, and consumer innovation is not happening to meet changing demands. Bus.com will unify and empower their businesses, allowing them to access new markets and deliver an experience that delights their rider and supersedes large competitors.
“Innovation in the highly fragmented busing market in the US and Canada is a necessary and key component of improving mobility. BMW i Ventures is committed to investing in this kind of visionary innovation and we look forward to working with Kyle and his team to bring their vision to reality.” Christian Noske, Partner at BMW i Ventures.
New York-based BMW i Ventures is a corporate venture capital team founded by BMW Group in 2011, which provides equity financing to high-potential start-ups and high-growth companies dedicated to shape the future of global mobility. Through its previous investments in the fields of e-mobility, navigation, parking, car sharing and intermodality, BMW i Ventures has already entered into strategic partnerships with innovative providers such as Scoop, Zirx, RiceCell, Chargepoint, Life360, Moovit, JustPark, Chargemaster, Zendrive, Rever Moto, STRIVR and Desktop Metal.