Rideshare companies like Uber and Lyft and public transportation are all ways that help citizens get to their desired destination while also avoiding the hassle of getting gas and finding parking. But one company wants to combine rideshare with public transportation and also connect sustainability and convenience.
Cambridge-based startup The Routing Company (TRC) is an on-demand ride platform that uses fleet management software to pair riders with public transportation like buses and shuttles. The company partners with public transport systems and private sector companies and uses MIT-inspired routing technology to assess where riders are and when they want to be picked up. Riders can request a ride through TRC’s app, Ride Pingo.
The transportation tech startup raised $15 million in a Series A round led by Galvanize Climate Solutions, a capital firm investing in climate solutions.
The company’s team is backed by many former Uber veterans, with its CEO James Cox previously working as the former global head of product operations at the rideshare giant.
“Our vision at The Routing Company is that a community of any size, in any place, with any amount of resources can meet the transportation needs of its people,” Cox said in a statement. “In 2021, we took big strides toward realizing this vision, and we look forward to making even more progress in the months and years to come.”
Along with the new funding, TRC hired Richard “Dick” Alexander as its new head of business development. Veery Maxwell, co-head of Innovation & Expansion Strategy at Galvanize Climate Solutions, also joined TRC’s board of directors.
“The Routing Company has developed a model that has the potential to combine the environmental efficiency of public transit with the convenience of on-demand transportation. To meaningfully decarbonize transportation, we need to rethink the traditional models of transportation that we have taken for granted,” Maxwell said in a statement. “Cities worldwide are exploring on-demand transit and TRC’s technologies can be a critical enabling solution that achieves the joint goal of personal mobility and climate stewardship.”
During the pandemic, social distancing and work from home efforts caused public transportation ridership to decline. TRC aims to make public transit more efficient and make hailing a bus or shuttle a standard public offering.
Through the app, riders call for a bus or shuttle rather than having to walk to a designated bus stop. They get a ride faster and pay the same price they normally would.
“As many companies begin calling employees back, having affordable, reliable and accessible public transit is critically important,” Tom Steyer, co-executive chair of Galvanize Climate Solutions, said in a statement. “Given its scale, transitioning to a more sustainable and efficient transportation future must be a key area of focus for our decarbonization efforts. The Routing Company has demonstrated its ability to affect changes in the primary variables that drive emissions — mode, distance and occupancy. TRC has also received extremely strong reception from users, particularly in low-income and low-density communities — areas that typically are traditionally not serviced as well or as frequently by existing public transit.”
TRC currently operates in the U.S., Australia and Europe. According to Cox, since April of 2021, the transportation startup has completed more than 80,000 passenger trips and regularly fills up 18-seater vehicles.
According to CNBC, the funding is expected to be used to hire additional engineers as well as continue partnering with transit agencies and private sector companies. The company is also looking to partner with universities and large tech companies.
Other investors participating in the Series A round include The Engine, Systemiq.Earth, Animal Capital and former Uber CTO Thuan Pham, among others. Pham is also an advisor to TRC.
TRC is currently hiring for multiple positions, including six engineering roles.
