Remix raises $15M Series B
Today, Remix is excited to announce a $15 million Series B funding round led by Energy Impact Partners (EIP), a leading utility-backed energy investment and innovation firm.
You can read the official press release here.
When companies raise money, everyone wants to know what happens next. As with many questions in life, there’s a short answer that’s straightforward and a longer answer that is less so.
The short answer is that we’ll use the money to continue investing in our technology and our team, maintaining our focus on the needs of cities and continuing to solve pressing challenges in the transportation industry. Our mission is to help build more livable cities, and we’re excited to continue this important work.
The longer answer is where things get more interesting. Transportation has changed more in the last 5 years than the previous 50 — from the explosive growth of TNCs, to big changes in freight delivery driven by Amazon and ecommerce, to car and bike sharing services, and to the current wave of dockless bikes and scooters. There’s more innovation coming in the near future with the rise of autonomous vehicles, drones, and who knows what else.
And that’s the point. No one knows for sure what’s coming next, but cities have to be ready regardless. The rapid pace of innovation in transportation is altering not just people’s movement patterns, but cities themselves — yet it’s not a foregone conclusion that all this innovation will be a net positive for cities and the people who live there. The pace of disruption requires cities to take a more proactive role in managing private mobility providers and adapting public infrastructure, so that the current strains on the public right of way get better instead of worse. Cities have always had to balance the needs of public and private transportation options, but the sheer volume of data produced by today’s transportation networks means that a greater degree of coordination and regulation is possible than ever before.
Remix sits at the intersection of active management and infrastructure planning, and we have trusted relationships with both cities and private mobility providers. We find ourselves in a unique position to help move the industry forward towards outcomes that benefit all stakeholders. When cities meet their goals of sustainability, equity, and accessibility in the transportation ecosystem, everyone wins.
So our funding is an exciting milestone, but it’s just one step along our larger journey to even smarter, more livable cities.
To learn more about why EIP invested in Remix, read their blog post here.
To learn more about Remix, visit us here.
