image credit : Gett

Gett, The 8 year old Israeli on-demand transportation company which connects customers with different transportation services has now raised an additional $80 million at a $1.4 Billion valuation which brings the total amount of money raised by the company to over $690 million.

Gett which previously didn’t disclose its valuation has now earned the official “Unicorn! title with this investment which the company aims to make use of to make a fast move towards profitability in all of its markets in soon time.

The company through its ride sharing app and other transportation services sells up to $1 billion worth of rides each year and is slated to still grow and increase revenues in the markets where it operate.

There have also been reports that the company is planning to raise as much as $350 million at a high valuation of $2 Billion although it hasn’t yet been clarified by the company if they’re doing so.

This funding round came from a slew of investors consisting of Volkswagen, Access Industries, MCI Capital and Baring Vistok, Gett had also previously raised $300 million from Volkswagen in 2016.

Gett is growing very heavily and fastest in the city of NY where it operates ride-hailing app Juno which it acquired for $200 million which has garnered a huge number of over 45,000 drivers and is also increasing this figure by the day.

Gett was founded by serial entrepreneur Dave Waiser who previously founded Loyalize which was acquired by Viggle along with fellow entrepreneur Roi More.

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