Blacklane, a chauffeur service app, has recently raised $65 million in a series G round of funding. This funding comes as Uber announces a black-car service for business travelers, showing the increasing competition in the luxury transportation market. Blacklane offers various luxury chauffeur services for consumers and business travelers, bookable through their app in multiple cities worldwide. The company plans to expand its business lines and establish operations in new locations, aiming to be a part of guests’ daily lives in these cities.
Originally starting with airport transfers, Blacklane has diversified its services to include intercity travel, hourly and day bookings, as well as a ride-hailing feature in Dubai and Miami. The CEO and co-founder of Blacklane, Jens Wohltorf, stated that the company’s extreme focus on airport transfers made them vulnerable during the pandemic, leading to the decision to diversify their services. With the goal of expanding in Saudi Arabia, Tasaru Mobility Investments, based in Saudi Arabia, led the latest funding round with support from existing investors.
Seeing an opportunity in the growing tourism industry in Saudi Arabia, Blacklane is launching in several key cities with a fleet of electric vehicles and plans to train local female and male drivers. Tasaru is also assisting Blacklane in establishing relationships with Saudi airlines and airport transfer companies. Additionally, Blacklane aims to expand in the U.S., its largest market, and Europe. The company has seen a 20% growth in U.S. bookings from 2022 to 2023.
The company did not disclose their new valuation but stated that it is about 25% higher than their previous fundraise of $36 million in September 2023. Blacklane claims to have been profitable since spring 2022, with its revenue growing by 25% from the previous year. Mercedes-Benz Mobility, the financial services arm of Mercedes-Benz Group, is the largest shareholder of Blacklane. The company, with 400 employees and thousands of drivers, aims to continue its growth and success in the luxury chauffeur service market.
In light of the competition from Uber’s new black-car service for business travelers, Blacklane’s focus on diversifying its services and expanding in new markets shows its determination to stay relevant and competitive in the luxury transportation industry. With a strong emphasis on providing high-quality chauffeur services for consumers and business travelers, Blacklane aims to establish itself as an essential part of their guests’ daily lives in various cities worldwide. The support from investors like Tasaru Mobility Investments and the backing of Mercedes-Benz Mobility position Blacklane for further growth and success in the coming years.
