Spare, a leader in on-demand transit solutions, has made a significant transition from SpareLabs.com to Spare.com. This marks a huge moment for the company as they aim to streamline Spare’s digital identity and align the brand with the broader mobility landscape. Founded with a mission to enhance transportation, Spare has continuously pushed the boundaries of how people move within cities.
Fuelled by their recent $42M in Series B funding, the shift to Spare.com is a strategic move to reflect the company’s growing influence in the paratransit and microtransit sectors, and to position itself as a more accessible and forward-thinking partner for global transit agencies.
“While I’ll always have a soft spot for the “labs” 🧪, it was time to move forward… were dropping the labs and you can now find us at spare.com ,” says Spare Co-founder and COO, Josh Andrews.
$42M Series B Funding
Spare Labs recently closed a significant funding round that will further propel its mission to modernize ADA-paratransit systems and launch specialized microtransit services. The funding round was led by Inovia Capital, a longtime partner and lead investor from Spare’s Series A. Other previous investors, including Kensington Capital and Nicola Wealth, also participated. This new inflow of capital will enable Spare to meet the growing demand for modern transit solutions, particularly enhancing transportation access for underserved communities.
“We’re incredibly grateful for Inovia’s continued support as our lead investor since day one; their guidance has been instrumental in our growth and success,” said Spare CEO Kristoffer Vik Hansen. “We’re also grateful for the ongoing commitment from Kensington Capital and other strategic investors who have helped push the industry forward. This capital allows us to serve more riders, providing the paratransit community with the great consumer experience they deserve. By harnessing advanced technologies, including Artificial Intelligence, we will further improve efficiency and cost-effectiveness for transit agencies, ultimately enhancing the rider experience, especially for the most vulnerable in our society.”
Spare has announced significant partnerships with top transit agencies, including Dallas Area Rapid Transit (DART), Bay Area Rapid Transit (BART) and Alameda-Contra Costa Transit District (AC Transit) in the Bay Area, and GoDurham ACCESS in North Carolina. These transit agencies use Spare’s AI platform to power their demand response services. Spare operates in eight of the 10 largest cities in the United States and has powered over 15 million rides globally.
“This funding round will accelerate Spare’s mission to make transit more accessible by enabling the freedom of mobility,” said Hugues Lalancette, Partner at Inovia Capital. “We continue to be impressed with their world-class product and momentum they’ve built with partners and are confident that this significant investment will help them continue to develop AI-based solutions that meet the evolving needs of transit agencies.”
“As early supporters from the Series A round, we’ve seen Spare evolve from a promising startup to a key player in the transit space,” said Dylan Freeze, Director at Kensington Capital. With this new funding, we’re eager to see Spare drive further innovation and empower more transit agencies to deliver flexible, efficient, and modern services.”
Updated Website
In addition to the new domain, Spare introduced new brand colors and an updated website. The website update offers a more user-friendly experience that better serves Spare’s diverse audience.
From transit agencies to tech partners, the revamped website now provides streamlined access to resources, case studies, and product information, making it easier for stakeholders to connect with Spare’s offerings and understand the value it brings to the mobility landscape.
