Mozio, the airport transfer search and booking engine, has revealed that it has recently raised a $2.5 million funding round.
Asset Management Ventures led the round. Other venture capital firms participating included JetBlue Technology Ventures, OSFund, Corigin Ventures, Techstars Ventures, Galvanize, Howzat Partners, and the Summit Adventure Fund.
The round also included strategic investment from Veolia Transdev and other investors.
The San Francisco-based startup has raised $3.3 million, to date.
As of January, the four-year-old company had 24 employees. But it has gone on a hiring spree this year. It now has 65 employees, mostly based outside of the US in Argentina, Portugal, and Indonesia.
In the past year-and-a-half, the company has signed deals with Booking.com, Hotels.com Skyscanner, Despegar, and CheapOair. It has grown its transaction volume and revenue by about 10 times as a result, it says.
While the company first became known as a booking engine for booking black limo cars and airport transfers, its goal now is to provide a broad array of urban ground transportation, such as shuttles, taxis, limos, express trains (like London’s Heathrow Express), buses, and public transit.
CEO David Litwak told Tnooz that there’s a broad demographic of people who mix and match between shuttles, taxis and public transit and need a single platform to keep track of it all, especially for corporate travel.
Litwak believes there is a lot of growth for Mozio to be had in corporate travel, where most bookings are done outside of corporate policy. The company will soon announce deals with travel management corporations (TMCs).
Mozio plans to launch a mobile app at a later date.
The company has 2,500 transportation supplier partners worldwide. Its ten-person supplier team adds about 100 a month, Litwak says.
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