RT

Rideco On Demand Transit

www.rideco.com link_icon
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Company Research Report: RideCo Inc.






Company Overview


  • Name: RideCo Inc.

  • Mission: To transform transit systems to make them convenient to ride and cost-effective to operate, and to provide more equitable, accessible, efficient, and cost-effective mobility.

  • Founded: 2013

  • Founders: Prem Gururajan, Matthew Monteyne, and Darren Maki

  • Key People: Prem Gururajan (Co-Founder and CEO), Leslie S. Richards (CEO and General Manager, SEPTA)

  • Headquarters: 57 Erb Street West, Waterloo, ON N2L 6C2, Canada

  • Number of Employees: 100+

  • Revenue: No information available

  • What is the Company Known For: RideCo is known for its on-demand cloud-based paratransit and microtransit software, widely adopted among the 10 largest cities in the United States.





Products


Passenger App


  • Description: User-facing on-demand smartphone application, web portal, and concierge tool for trip reservation and management.

  • Key Features:

  • Flexible booking options (on-demand and prescheduled trips)

  • Guaranteed on-time performance

  • Available on multiple platforms (iOS, Android, web browsers)


Driver App


  • Description: In-vehicle, driver-facing application for real-time dispatch and data collection.

  • Key Features:

  • Dynamic routing optimization

  • Real-time navigation with turn-by-turn instructions

  • Efficient itinerary management


Operations Center


  • Description: Dashboard suite designed to streamline microtransit and paratransit operations.

  • Key Features:

  • KPI reports and operational insights

  • Tools for transit dispatch and service monitoring

  • Real-time and historical data exports


Data Insights


  • Description: Provides both predefined and tailored transit reports for operational monitoring.

  • Key Features:

  • Standardized KPI reports

  • Raw data export for further analysis

  • Custom report generation


Profile Manager


  • Description: Centralized space to store rider information including ride preferences, emergency contacts, etc.

  • Key Features:

  • Personalized passenger experience

  • Standing order booking

  • User group application management





Recent Developments


  • Product Launches:

  • AI Agent: Enables passengers to book, cancel, and track their rides independently without human intervention.


  • New Features:

  • Driver Scorecard: Provides daily summaries of driver behavior and incidents.

  • Dynamic Breaks, Instant Assign, Configuration Optimizer and other optimization features for transit operations.


  • Partnerships:

  • SEPTA: Partnership enabled the modernization of the paratransit system, achieving milestones at a reduced cost.

  • Uber: Integration with Uber to enhance transit agency offerings.





Case Studies



Concord and Kannapolis, North Carolina


  • Results:

  • $110,797 annual cost savings in revenue hours

  • 20% reduction in call center volume

  • 99% average on-time performance


Houston, Texas


  • Results:

  • 54% reduction in call center bookings

  • 67% increase in passengers per vehicle hour

  • 4.8/5 average star trip rating


San Antonio, Texas


  • Results:

  • 36% reduction in cost per passenger

  • 70% shared rides

  • 5.0 passengers per vehicle hour


Tulsa, Oklahoma


  • Results:

  • 4.8/5 average star trip rating

  • 95% on-time performance

  • 14% reduction in cost per passenger





Transformation Stories



SEPTA, Philadelphia, Pennsylvania


  • Impact: Revolutionary implementation of a modernized on-demand paratransit service in less than 5 months, increasing efficiency and rider satisfaction.


Guelph, Ontario


  • Impact: Modernized dial-a-ride service, resulting in a 30% reduction in call center bookings, 67% shared rides, and 95% on-time performance.


Cobourg, Ontario


  • Innovation: Commingled on-demand transit service earned the 2022 CUTA Award in the Innovation Category for its unique service model.





Contact Information


  • Headquarters:

  • United States: 10880 Wilshire Boulevard, Westwood Village, Suite 1101, Los Angeles, CA 90024

  • Canada: 57 Erb Street West, Waterloo, ON N2L 6C2





For more information, visit the [RideCo website](https://www.rideco.com).