Dallas-based ride share company Alto will be the anchor tenant in a new redevelopment in Dallas’ Design District.
Alto is taking 16,000 square feet of office space for its headquarters at 141 Manufacturing St. near Irving Boulevard.
The three-year-old, growing transportation firm will locate in Quadrant Investment Properties’ Manufacturing District, a series of vintage commercial buildings that are being transformed into new creative office and commercial space.
“We’re excited to build a headquarters that we can call home and that meets the needs of all our teams,” Alto chief executive officer Will Coleman said in a statement. “I’m proud of Alto’s growth and success to date, and I’m excited to grow our presence in the Dallas community.”
The new headquarters space will house Alto’s executives plus engineering, marketing and operations teams and will open early next year.
A new rideshare service plans to hire 200 drivers in Miami — and treat them as employees, not independent contractors.
Texas-based Alto, which has already raised $45 million in venture capital, says its drivers undergo extensive background checks as well as a thorough safety and defensive driving training program.
“Alto’s business model is what makes it a differentiated service in the rideshare ecosystem,” Alto founder and CEO Will Coleman said in a statement. “Classifying the drivers as W-2 employees is at the core of our rideshare experience, allowing us to prioritize safety and consistency at a time when it’s more important than ever.”
As the world begins to open back up, we are seeing more traffic and congestion on the roads than we have in over a year. With public transportation and rideshare services, consumers can cut down on their pollution output and fossil fuel usage in an effort to combat climate change.
One Dallas-based rideshare company is on a mission to create a more environmentally conscious rideshare experience for its drivers and riders.
Alto, which launched in 2018 as a more “upscale” rideshare service, plans to exclusively transition to all electric vehicles by 2023.
As of now, Alto operates in Dallas, Houston and Los Angeles, with plans to expand to two more unknown cities at the latter half of this year, and 10 more cities by the end of 2022.
The Dallas ride-hailing service looking to shake up the industry has raised another round of financing.
Alto unveiled a $45 million Series B effort on Monday — and that brings its total to about $60 million, according to Will Coleman, CEO of the company.
The fresh financing was co-led by Tuesday Capital in the San Francisco area and Goff Capital in Fort Worth. Other investors include Franklin Templeton in San Mateo, Calif.
“We really have a stronger business than we ever have before,” Coleman said in an interview.
The investment will back Alto’s nationwide expansion – and is set to more than triple the company’s footprint that now includes the Dallas, Houston and Los Angeles areas. At the same time, the company plans to shift to an electric fleet in early 2022 and fully ramp that up for all of its vehicles by the end of 2023.
Dallas-based rideshare company Alto closed a $45 million Series B funding round that it says it will use to expand into more than 10 U.S. cities by the end of 2022.
Alto, which operates in Dallas, Houston and Los Angeles, also announced that it will replace and expand its fleet with electrical vehicles. It has a fleet of more than 400 Buick Enclaves. By the end of 2023, it hopes to have a fleet of 3,000 EVs.
Alto, a Dallas startup, is trying to build the Starbucks of the ride-hailing world by offering a premium taxi service that in many ways flies in the face of what Uber and Lyft have built. Now it has a new round of cash to prove it out, Insider has exclusively learned.
The company, led by CEO Will Coleman, a former McKinsey partner, recently raised $45 million in a Series B funding. The round was coled by Tuesday Capital, an early Uber investor formerly known as CrunchFund, and Goff Capital, a Texas private-investment firm. The mutual-fund giant Franklin Templeton also invested. The round brings Alto's total fundraising to $60 million.
That may seem a paltry sum compared with the billions of dollars that have poured into Uber and Lyft over the years, but Alto is trying to build a model that runs counter to its cash-burning competitors. The startup owns its fleet of cars and employs drivers as W-2 workers, rather than using contract labor. Alto plans to use the new capital to build its fleet and transition it to 3,000 fully electric vehicles in the next two years and expand into more markets.
Some scorned Uber customers are turning to similar, often regional services. In Dallas, Allan Koenig, who works in corporate communications, had become increasingly frustrated with Uber’s quality and reliability years ago. “There came a point when [rides] simply never came,” Koenig said.
He started using Alto, a ride-hailing app available in Dallas, Houston and Los Angeles. The service offers customers rides from vetted, uniform-wearing employees who pick up passengers in a car from their fleet of branded SUVs. Most importantly, “they always show up,” Koenig said.
Early examples of any innovation, while groundbreaking by definition, are usually followed by next-gen versions that have been fine-tuned to offer greater refinement in execution. The relatively new, and exponentially expanding, ride-sourcing industry is no exception. Since Uber basically created the market space in 2009, a legion has followed operating from similar platforms, driving the traditional taxi business dangerously close to obsolescence.
With its widespread adoption, both on the part of passengers and drivers, has come a glaring lack of standardization and security, leading to inconsistent quality and increasing incidents of altercations and crime. It was only a matter of time before these issues were addressed, and entrepreneur Will Coleman decided to be the one to do it.
Groups advocating for employment status for gig workers will likely look to where messaging worked and fell short in the California campaign. Will Coleman, CEO of rideshare service Alto, which employs W-2 workers, said he’s felt that the potential benefits to consumers of an employed workforce has been missing from the narrative.
“I think we need to do a better job of really articulating the consumer trade-off in addition to the employee trade-off,” Coleman said. Those could range from more consistency in service to a quicker ride with fewer cars on the road to lower emissions.
Alto is bringing its employee-based, on-demand ride-hailing and delivery service to Los Angeles.
CEO Will Coleman on how Alto is different from Uber and Lyft, why the company chose Los Angeles as its next market, and what challenges it faces here.
Dallas-based rideshare company Alto has announced plans to expand into Los Angeles — its first city to receive service outside of Texas.
“At such a critical time, we’re thrilled to bring Alto’s elevated rideshare and delivery experience to the Los Angeles market,” Alto cofounder and CEO Will Coleman said in a statement. “Knowing how many people have benefited from our consistent, high-quality and safe offerings in our initial market in Texas, we know we have a lot to offer to the LA community.”