Portland mobile transit ticket startup raises $1.3M
PORTLAND, Ore. -- A graduate of the Portland Seed Fund accelerator continues to get attention from venture capitalists, raising $1.3 million in a funding round led by the Oregon Angel Fund.
GlobeSherpa is a mobile ticketing service that aims to replace transit tickets and ticket kiosks by allowing consumers to buy tickets directly from mobile phones. Its platform also includes tools that allow fare inspectors to check for and validate tickets and a back-office management tool.
The company is currently testing its platform with TriMet, which is expected to roll it out this summer.
The venture capital investment will support the company's go-to-market strategy and accelerate expansion into national and international markets.
"Mobile ticketing is a fast-growing emerging market and we believe GlobeSherpa has the right team and technology to be a leader," said Scott Grout, a member of the Oregon Angel Fund who will join GlobeSherpa's board. "We spoke with many transit agencies around the country and they are all anxious to see a well-designed, highly functional, easy-to-use ticketing solution like GlobeSherpa's."
In 2012, GlobeSherpa was among the second wave of companies to graduate from the Portland Seed Fund.
The Oregon Angel Fund invests about $5 million a year in startups and early growth-stage companies in Oregon and southwest Washington. It manages a portfolio of 27 companies that employ more than 800 people.
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