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Lyft's fresh funding round brings valuation to $11.5 billion
December 5, 2017 / 7:00 PM / 7 days ago

Lyft's fresh funding round brings valuation to $11.5 billion

(Reuters) - U.S.-based ride hailing company Lyft said on Tuesday it raised an additional $500 million in its recent round of funding, bringing in new capital totaling $1.5 billion.

FILE PHOTO - An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren

The funding round was led by one of Alphabet Inc's (GOOGL.O) investment funds, CapitalG, bringing Lyft's current valuation to $11.5 billion, Lyft said in a blog post. (lft.to/2AMnyD8)

Fidelity Management & Research, the Ontario Teachers’ Pension Plan, AllianceBernstein, Baillie Gifford, KKR (KKR.N), Janus Henderson Investors and Rakuten (4755.T) also took part in the round.

Reporting by Laharee Chatterjee in Bengaluru; Editing by Maju Samuel

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