Rideshare marketing startup Firefly launches with $21.5M in funding

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Rideshare marketing startup Firefly launches with $21.5M in funding


Rideshare marketing startup Firefly launches with $21.5M in funding

Firefly, a startup that allows rideshare drivers to bag money through digital marketing, is officially launching this day. It’s also announced that it has raised $21.5 million in seed funding.

The root of sticking marketing on a cab isn’t recent, but Fireflyaffords drivers what it calls a “digital neat display veil,” allowing advertisers to walk targeted, geofenced campaigns. The firm has it seems to be walk higher than 50 advert campaigns already, during a beta making an try out interval in San Francisco and Los Angeles, with hundreds of cars on the avenue.

“Being the major at building out the IP goes to be the major differentiator,” acknowledged co-founder and CEO Kaan Gunay. “Over half our crew are engineers, and we had been extraordinarily centered on developing core IP to make certain it’s scalable.”

Along with, Gunay acknowledged that on account of the mix of Firefly’s concentrating on capabilities with its “strict” marketing insurance policies (it received’t web classified ads for strip golf equipment, tobacco and hashish corporations, among others), “We’re working with loads of advertisers who would possibly perchance perchance not even like advertised outdoors sooner than. We deem we are increasing the market.”

One in all the major desires is to allow drivers for Uber, Lyft and deal of hump-hailing products and providers to bag extra money. In point of truth, Firefly says the fashioned driver in its community makes an additional $300 per month.

Firefly

Gunay explained that if the motive force meets a undeniable threshold for hours on the avenue, the firm can pay them a flat price to raise its marketing — but he also acknowledged the firm is exploring hundreds of recommendations to “maximize the earnings that we share with the drivers and affords the utmost serve to the drivers.”

It’s a project on regulators’ minds to boot, with New York honest honest as of late approving recent principles around driver compensation.

Earlier this twelve months, Uber partnered with a startup called Cargo to allow drivers to bag extra earnings by selling items like gum, snacks and telephone chargers. Firefly doesn’t like an apt relationship with the hump-hailing corporations, but Gunay acknowledged, “In our conversations with these huge corporations … they’ve acknowledged the drivers are free to bag what they want to bag. Here’s why it’s a consume for all people.”

Gunay also acknowledged these displays will turn out to be the basis for a “neat city knowledge community.” In hundreds of words, they’re going to acquire knowledge that Firefly plans to share with local governments and nonprofit groups. As an illustration, he acknowledged the firm has already been sharing air quality knowledge with the Coalition for Magnificent Air, and it’s also having a explore to incorporate temperature sensors and accelerometers.

It sounds as if Gunay doesn’t thought to bag money from this facet of the change. He urged me, “We want to be in a suite as a intention to add value to how cities operate … We’re not planning to monetize that.”

Getting support to the funding, $21.5 million is a big seed spherical, but Gunay acknowledged the firm’s success so a ways turned into in a suite to”define a elevated elevate and the next valuation.” The spherical turned into led by NfX, Pelion Mission Companions, First price Capital (primarily based by Tencent’s Jason Zeng) and Jeffrey Housenbold of SoftBank Imaginative and prescient Fund (certain,thatSoftBank Imaginative and prescient Fund).

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