“Nearly 10 months after taking over the driver’s seat at Zemcar, CEO Juliette Kayyem said the ride-hailing startup is hitting the gas, with plans to expand and raise cash.
“This will be our first major back-to-school effort,” said the chief executive about this coming September.
But, the security expert cautioned that her company that’s focused on providing safe rides for kids is heading for “controlled growth.”
So far, the three-year-old startup has raised about a million dollars in angel funding and has grown to employ 57 active drivers and generate a pool of 100 additional potential drivers in various stages of interview and screening.
And the company is steering towards a large fund-raiser likely to be completed this fall. Mostly for expansion, the funds would help the company quadruple its number of active drivers and to foray into two other East Coast markets by next year.
‘The long term goal for the company is expanding in Boston and putting a footprint in East Coast states,” Kayyem said. “Whether it’s an institutional raise, family fund or strategic investment, we will need capital as we expand.'”
From BostInno.com. Read the entire article here.