---
title: "Lyft Now Valued at $15.1B After $600M Funding Round"
description: "Lyft's valuation rose to $15.1 billion after completion of a $600 million funding round."
date: "2018-06-28"
modified: "2018-06-28"
authors:
  - name: "Stephen Edelstein"
    job_title: "Weekend Editor"
    link: "https://www.thedrive.com/authors/stephen-edelstein"
url: "https://www.thedrive.com/tech/21830/lyft-now-valued-at-15-1b-after-600m-funding-round"
categories:
  - "News"
tags:
  - "investment"
  - "Lyft"
  - "ride-hailing"
---

# Lyft Now Valued at $15.1B After $600M Funding Round

![](<https://www.thedrive.com/wp-content/uploads/images-by-url-td/content/2017/09/lyft_amp_05.jpg>)
*\<em\>www.thedrive.com</em>*

After raising $600 million in its latest funding round, Lyft is now worth $15.1 billion. The ride-hailing company's valuation has more than doubled in the past 14 months, noted [*TechCrunch*](<https://techcrunch.com/2018/06/27/lyft-15-billion-600-million-funding-round/>). But Lyft still has a long way to go before it catches up to rival Uber.

Lyft's share of the U.S. ride-hailing market has grown significantly over the past year, due to both an aggressive expansion push and [Uber's scandal-ridden 2017](<https://www.thedrive.com/news/21802/uber-wins-court-approval-to-continue-operating-in-london>). Over the past 18 months, Lyft has expanded into more U.S. cities as well as Canada. It now controls 35 percent of the U.S. ride-hailing market, up from 22 percent in January 2017, according to *TechCrunch*.

Lyft has sought more investor money in order to fund this expansion. Including the $600 million raised in its latest funding round, the company has raised $2.9 billion in primary capital since April 2017, *TechCrunch* reported. [Jaguar Land Rover](<https://www.thedrive.com/tech/11396/jaguar-land-rover-invests-25-million-in-lyft>) and [Google parent Alphabet](<https://www.thedrive.com/article/15291/lyft-confirms-alphabet-investment-as-part-of-1-billion-funding-round>) are among the companies to invest in Lyft recently. Lyft has also [cultivated a partnership with Aptiv](<https://www.thedrive.com/tech/20684/lyft-and-aptiv-deploy-30-self-driving-cars-for-las-vegas-public-trial>) for autonomous-driving technology.

But even with its many missteps, Uber remains a much larger player in ride hailing. It secured investment from the powerful Japanese firm SoftBank in December 2017. At the time of that deal, Uber's valuation was pegged at $48 billion. That was considered to be a low-ball figure reflecting the damage Uber's various scandals had done to its reputation. Uber's valuation was estimated at $68 billion in 2016.

Uber also retains a much bigger global reach than Lyft. While Uber has ceded operations in China, Russia, and Southeast Asia to Didi Chuxing, Yandex, and Grab, it still has a presence in many markets where Lyft doesn't operate, including Europe and South America. Lyft only began operating outside the United States last year, [when it launched in Toronto](<https://www.thedrive.com/article/16058/lyft-launches-in-toronto-making-its-first-foray-outside-of-the-u-s>). But Lyft's steady growth shows that the company is taking the fight to Uber on its home turf.

## Author
Stephen has always been passionate about cars, and managed to turn that passion into a career as a freelance automotive journalist. When he's not handling weekend coverage for The Drive, you can find him looking for a new book to read.

### Author social links  
[Twitter](<https://twitter.com/SAEdelstein>)