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).