September 23, 2014

CEO, Luke Schneider, On Silvercar’s $14MM Investment

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As I look around the Silvercar intergalactic command center here in Austin I’m struck by how a talented, dedicated group of people can make such a huge impact in such a short time. This week we notched another impressive gain in revenue, the latest in a streak that’s lasted for months now, and our 30 day Net Promoter Score ticked up to 88. The latter is a testament to the people on the front lines (you know who you are) and the home office who make it their daily business to ensure Silvercar remains about the customer experience. Yeah, we have our stumbles, like anyone, but you don’t maintain a high-80s NPS without getting it right most of the time.

Today we celebrate the closing of our Series B equity raise. Given all the hand-wringing over the “disappearing series B” phenomenon, we are humbled and energized to be here. This capital will enable us to accelerate growth, execute on strategic initiatives and bring our beautiful idea of “shared transportation done better” to even more people and places. As part of that we welcome our new investors – Velos Partners – whose chairman, Eduardo Saverin will join our board as an observer along with managing partner Raj Ganguly, our newest board member.

Personal transportation is a basic need in our modern world. As the world urbanizes, those transportation needs will change, but passenger-miles will continue to grow. One thing we know about personal transportation is that there are hundreds, maybe thousands of use cases for it. Sometimes owning a car is your best option. Sometimes it’s livery. And sometimes it’s using a vehicle some of the time. That’s where Silvercar is changing the game. To do that last flavor right requires rock solid technology, tight operations, a world-class vehicle, and relentless focus on the customer experience. As simple as that may seem in the abstract, it takes an extraordinary organization to actually deliver it.

Hats off to the superstars at Silvercar. You earned it.