It seems that Uber is always in the news for raising funding. In the last 5 years, the startup raised an astounding $5 billion. But it would seem that that’s about to rise to $6.5 billion as Uber is looking to raise another $1.5 billion as the business’ valuation increases to $50 billion. What does this mean for other on demand transportation companies?
Here at StrategyEye, we analyze startup investment landscape. This infographic highlights the 50 top startup investments in April 2015.
Despite Uber’s relentless global expansion and related aggressive fundraising activities, the other on demand transportations startups aren’t giving up without a fight. In April, India’s Ola was one of the top startup investments with a $400 million Series E funding round to help fuel its impressive growth strategy. In just one year, Ola grew its registered driver numbers from 10,000 to 100,000. It’s now aiming for 1 million drivers within the next 3 years.
The remainder of the 4 top startup investments in April is made up of 3 US-based startups, Domo, Prosper, and Slack, which raised $200 million, $165 million, and $160 million, respectively.
While each of these startups is impressive in its own right, Slack particularly stands out with its $160 million Series E funding round. Only a few months ago in October 2014, they raised $120 million to be valued at just over $1 billion. With this latest funding round they successfully increased their valuation by more than double as the startup is valued at $2.8 billion. Slack has grown extremely quickly over the last year and includes some impressive customers like the New York Times, Adobe, BuzzFeed, HBO, and even the US Government State Department.
With more than 750,000 daily users and seemingly unrelenting growth, it’s of little surprise that Slack’s funding round finds itself as one of the top startup investments in April 2015. And it’s probably a safe bet to expect to see the startup rank highly in future investment rounds too.