Total amount raised
$62.4 Millions
Latest funding date
Location
Alto has successfully raised funds through multiple rounds, including an Equity Crowdfunding round that closed on March 26, 2024. The company is backed by notable investors such as Green Park & Golf Ventures and Franklin Templeton.
Alto's platform offers a refined rideshare experience with a dedicated fleet and employee drivers, ensuring safety and quality. Keep reading to explore the intricacies of Alto's fundraising journey and the investors backing this innovative platform.
What Is Alto?
Founded in February 2018, Alto is a rideshare company headquartered in Dallas, Texas. The company was established by Boris Blanche, Patrice Crisinel, and Will Coleman. Alto operates in multiple cities, including Dallas, Houston, Los Angeles, and Miami.
Alto's industry spans automotive, cyber security, hospitality, information technology, ride sharing, software, and transportation. The company employs between 501 and 1000 people, focusing on providing a refined rideshare experience with a dedicated fleet and employee drivers.
How Much Funding Has Alto Raised?
- Equity Crowdfunding
- Amount Raised: $2.9M
- Date: March 2024
- Lead Investors: Green Park & Golf Ventures, Franklin Templeton
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations, enhance technology, and scale to new markets.
- Series B
- Amount Raised: $45M
- Date: June 2021
- Lead Investors: Goff Capital, Tuesday Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new cities.
- Venture Round
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and technology development.
- Series A
- Amount Raised: $14.5M
- Date: January 2019
- Lead Investors: Road Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch services in new markets and enhance the fleet.
Total Amount Raised: $62.4M. Current Valuation: Not publicly disclosed.
Key Investors
- Goff Capital
- Details: Goff Capital is a private investment firm based in Fort Worth, Texas, known for its diverse investment portfolio.
- Investment Focus Areas: Technology, Real Estate, Energy
- Notable Investments: Not publicly disclosed
- Tuesday Capital
- Details: Tuesday Capital is a venture capital firm that invests in early-stage technology companies.
- Investment Focus Areas: Technology, Consumer Products, Media
- Notable Investments: Not publicly disclosed
- Road Ventures
- Details: Road Ventures is a venture capital firm focused on supporting innovative startups.
- Investment Focus Areas: Transportation, Technology, Infrastructure
- Notable Investments: Not publicly disclosed
What's Next for Alto?
Alto's future is brimming with potential as it continues to expand its operations in key cities. The company is poised to capitalize on the growing demand for safe and reliable rideshare services, especially in urban areas where transportation needs are evolving rapidly. This opportunity could significantly boost Alto's market presence and customer base.
Given the promising outlook, Alto may explore additional fundraising rounds to fuel its growth. These funds could be directed towards enhancing their technology, expanding their fleet, and entering new markets. However, the path ahead is not without challenges. The rideshare industry is highly competitive, and maintaining service quality while scaling operations will be crucial for Alto's sustained success.
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