About HiRide
HiRide is a company based in Waterloo (Canada) founded in 2018 was acquired by Facedrive in March 2020. It operates as a Two-Sided Marketplace, and Mobility-as-a-Service. HiRide has raised $30 thousand across 1 funding round from investors including Facedrive and Accelerator Centre. HiRide offers products and services including HiRide App. HiRide operates in a competitive market with competitors including Pop Rideshare, Caribook, gobyRIDE, Zazz and MapleRide, among others.
- Headquarter Waterloo, Canada
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Sectors
Travel & HospitalityTransportation, Automotive & Logistics
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Email
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Phone
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Website
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Products & Services of HiRide
HiRide offers a comprehensive portfolio of products and services, including HiRide App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A platform for shared rides across Canada is provided.
Funding Insights of HiRide
HiRide has successfully raised a total of $30K through 1 strategic funding round. The most recent funding activity was a Seed round of $30 thousand completed in June 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $30,000
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First Round
First Round
(10 Jun 2019)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jun, 2019 | Amount | Seed - HiRide | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in HiRide
HiRide has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include Facedrive and Accelerator Centre. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Startups are built and accelerated in a structured studio environment.
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Ride-hailing is facilitated through an app-based driver cooperative platform.
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| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Investments & Acquisitions by HiRide
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - HiRide
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Hiride Comparisons
Competitors of HiRide
HiRide operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Pop Rideshare, Caribook, gobyRIDE, Zazz and MapleRide, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Operates a carpooling platform for users.
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An app-based platform for intercity carpooling, connecting users for efficient and shared rides.
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| domain | founded_year | HQ Location |
Carpooling platform for sharing rides, saving costs, and secure payments.
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| domain | founded_year | HQ Location |
MapleRide provides city-to-city ridesharing in southern Ontario, Canada.
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Hiride
Frequently Asked Questions about HiRide
When was HiRide founded?
HiRide was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is HiRide located?
HiRide is headquartered in Waterloo, Canada. It is registered at Waterloo, Ontario, Canada.
Is HiRide a funded company?
HiRide is a funded company, having raised a total of $30K across 1 funding round to date. The company's 1st funding round was a Seed of $30K, raised on Jun 10, 2019.
What does HiRide do?
A digital platform for carpooling across Canada is provided by HiRide. Focus is placed on transforming travel into social experiences. Connections between students, professionals, and commuters are facilitated. Isolation during journeys is addressed through shared rides. Safety, affordability, and environmental benefits are emphasized. The service operates in major Canadian routes and cities. Modern technology ensures trust and convenience for users.
Who are the top competitors of HiRide?
HiRide's top competitors include Pop Rideshare, Caribook and gobyRIDE.
What products or services does HiRide offer?
HiRide offers HiRide App.
Who are HiRide's investors?
HiRide has 2 investors. Key investors include Facedrive, and Accelerator Centre.