Uber, the personal driver service, has closed a $39 million Series B round of financing lead by Menlo Ventures, Jeff Bezos and Goldman Sachs. Benchmark Capital and some angels also invested.
While Uber has only closed $32 million of it to date, cofounder Travis Kalanick tells TechCrunch the funding can “extend up to $39 million through a second tranche.”
Uber launched in Paris today and made the announcement on stage at Le Web. The round will be used to launch in two new cities per month world wide.
Menlo Ventures’ Shervin Pishevar writes that Uber is his largest investment to date. As the son of an immigrant cab driver, Pishevar says Uber has special meaning to him.
“Beyond helping people have a richer social life, Uber’s also a model of collaborative commerce and efficiently tackling excess capacity. Drivers who previously were underutilized, sitting around waiting for utilization and demand while burning gas, can now be more efficient – and earn substantially more than they used to,” writes Pishevar. “It’s about about leveraging mobile technology to enable an elegant solution to a complex problem set leading to a magical consumer experience.”
For more on how Uber works, check out: THE TRUTH ABOUT UBER: The Personal Driver App, Tried And Broken Down For You >>