Features
14 Nov 18

SaaS gains terrain

Every self-respecting MaaS (Mobility as a Service), from fleet management to autonomous ride hailing, requires decent SaaS (Software as a Service). This has been noticed by big investors and tech players, as can be seen in the fund raising of the leading SaaS company Ridecell. 

After the funding round of $28 million completed in May, the new round will increase the amount to $60 million. Despite participation of companies like Munich Re’s ERGO Corporate Venture Fund, LG Technology Ventures, BNP Paribas, Sony Innovation Fund, Ally Ventures, and Khosla Ventures; eventually, Activate Capital leads the round. Therefore, their managing director and cofounder Raj Atluru will sit on Ridecell’s board, joining the initial investors Cox Automotive, Initialized Capital, Denso, Penske, Deutsche Bahn, and Mitsui.

From fleet management to mobility engine

Started as yet another ride-sharing service, called Summon (and previously InstantCab) in San Francisco and the Bay Area in 2012, the company changed its focus to fleet management, becoming a self-proclaimed ‘cloud-based mobility engine’.

The ‘engine’ offers various solutions, depending on the specific needs of its customers. Among its 20 current users there is BMW’s ReachNow, which not only provides a car sharing service but also uses RideCell’s technology to guide its EV drivers on-time to a nearby charging station before running out of power. Furthermore, the data is used to derive insights to enhance its business. For instance, car-sharing demand is lower at night, making it more profitable for the service to function as a ride-hailing service at night. This can be provided by Ridecell as well, as explained Mark Thomas, Vice President of Marketing of Ridecell in an interview with us. 

On the other hand, the University of California, Berkeley and the Santa Clara Valley Transportation Authority use the technology to ensure their shuttles are operating at full capacity. Moreover, with the acquisition of driverless shuttle developer Auro Robotics in 2017, Ridecell is looking to add autonomous fleet management to its line of services.

The future of mobility

Electrification, automation and shared mobility are the keywords of future urban mobility according to Ridecell, which offers its platform right on these crossroads. According to the company, a third of all driven miles will be shared by 2030, or as a study of Fujitsu America found: in the next 12 years 50% of all miles will be shared. 

The increasing interest of investors and companies in this kind of cloud-based mobility platforms confirms the believe in this view on the future.

Find out more on the topic and moreover, the corporate application of Ridecell’s technology, car sharing and ridehailing during the Smart Mobility Talks on the Fleet Europe Summit in Barcelona, where Kenneth Malmberg, Director of Alliances, Ridecell, will explain his vision.

Image: BMW's ReachNow car sharing programme in the USA works with the mobility platform of RideCell.

Authored by: Fien Van den steen