Lyft Confirms $600 Million Investment

 

Ride-sharing service Lyft has announced the close of $600 million in a Series G round, giving the company a valuation of $7.5 billion.

Existing investors Rakuten and Janus Capital participated, along with new investors AllianceBernstein, Baillie Gifford, KKR, and Canada’s Public Sector Pension Investment Board (PSP).

Lyft has added service to 131 cities in the U.S. this year and 7 new states, giving the service coverage in 67% of the U.S. Uber remains the leading ride-sharing service overall and is available around the world.

“Lyft is fundamentally changing the way people think about car ownership and transportation,” said George Roberts, Co-Founder and Co-CEO of KKR. “With ridesharing increasingly in high demand, we are proud to partner with Lyft for their differentiated customer-centric culture, impressive growth strategy and exceptional management team, and to work together to change transportation for the better for both passengers and drivers.”