ABS Capital was drawn to Beep's recent partnerships and growth initiatives.
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The Company has an opportunity to grow its existing services and use its operational experience and data to build unique software solutions that provide material upside opportunities. "Beep has only existed for three years and is already a leader in the autonomous shuttle category. ABS Chairman and Partner Phil Clough will also join the Beep Board as an observer. " – Joe Moye, Beep CEOĪBS Capital is a growth equity firm that invests in leading software and tech-enabled services businesses. As a result of the investment by ABS Capital, Jennifer Krusius will serve on Beep's Board of Directors. This new capital will enable us to further develop the solutions required to achieve this mission. Our mission is to improve safety on the roads for everyone while positively impacting the environment and delivering mobility-for-all in our public and private communities.
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"We are thrilled to welcome ABS Capital and TDF Ventures into the Beep family as we continue to bring the vision of autonomous mobility to life with our Series A investment partners, Intel Capital and Blue Lagoon Capital. Over the last two years, Beep's safety-centric approach has enabled them to deploy and test over 20 public road routes across multiple states.
The funding will enable Beep to further develop its autonomous software platform while also advancing its flagship public transit autonomous mobility service focused on first and last-mile transportation networks.įounded in 2018, Beep has safely advanced the testing of autonomous shuttles for the public and private sectors while working closely with the National Highway Traffic Administration and its autonomous vehicle test program.
LAKE NONA, Fla., Ma/PRNewswire/ - Beep, a provider of multi-passenger, electric, autonomous mobility solutions, announced today $25 million of Series A-1 funding, led by ABS Capital, with supporting participation from Intel Capital, Blue Lagoon Capital, TDF Ventures and Hidden Creek Management.