BusUp, a Barcelona-based corporate bus commuter management solution, has raised a $6 million Series A round to expand from Europe and Latin America into the US. The company says there’s a growing demand for employer-provided commuter benefits and mobility services.
“Trends show that the return to the office scenario will be dominated by hybrid or flexible work that will inevitably require flexible commuting solutions,” said Rui Stoffel, the startup’s CEO and co-founder.
The service coordinates pick-up of employees, sometimes picking up employees from multiple companies if the offices are nearby. The whole idea is consolidating transportation, saving the companies’ money, and — last but certainly not least — reducing emissions.
“One of the most important things that the pandemic has taught us is how much car commuting contributes to pollution and congestion in our cities,” said Enrique M. Zambrano of Proeza Ventures, a Latin American mobility investment firm that led the Series A round.
“We are convinced that BusUp’s shared shuttle commuting solution offers one of the most sustainable paths forward,” he added.
Founded in 2016, the company currently operates in Spain, Portugal, Brazil, Peru and the US. Clients have included Accenture, Louis Vuitton, Siemens, Roche, Lilly, Cognizant and Nestlé.
The financing round was also joined by US firm Autotech Ventures (which also backed Lyft and Volta Charging) and IESE’s Business School venture fund Finaves V, among others.
Author: Annie Musgrove