May Mobility – a leader in developing and deploying autonomous vehicle (AV) technology – recently announced the company’s $105 million Series D funding round. And the company also revealed that Anna Brunelle has joined as CFO.
The company’s closing of a $105 million Series D round was part of its ongoing fundraising efforts. And the all-equity round was led by Japanese telecommunications giant NTT Group and joined by new and existing financial and strategic investors, including Toyota Ventures, Aioi Nissay Dowa Insurance Company, State Farm Ventures, BMW i Ventures, Cyrus Capital, Millennium Technology Value Partners and Trucks Venture Capital thus far. May Mobility’s Series B and C were led by Toyota Motor and SPARX Group Co., respectively. This latest funding round brought May Mobility’s total funding to approximately $300 million.
May Mobility will use the funding round to accelerate the advancement and commercialization of its AV technology and services in the United States, Canada, and Japan. And the funding will assist in scaling operations and pave a path for the company to reach profitability.
With this funding round, NTT Group has acquired the exclusive rights to distribute May Mobility’s proprietary autonomous vehicle technology throughout Japan. And the companies will work with Toyota Motor to develop an autonomous driving ecosystem, working with local stakeholders to deploy May Mobility-equipped autonomous vehicles across various vehicle platforms. The companies will incorporate May Mobility’s technology to enhance Japanese transportation networks.
With over 350,000 autonomy-enabled rides to date, May Mobilty’s goal is to transform cities through autonomous vehicle technology, driving more accessible and sustainable transportation and safer roads while filling gaps in existing transportation infrastructure.
With a focus on a business-to-government (B2G) and business-to-business (B2B) go-to-market strategy, May Mobility partners with cities, transit agencies, municipalities and government agencies to solve real transportation challenges for communities. Our go-to-market strategy is designed to enable the company to achieve profitability faster through a lean and focused capital-efficient structure, in contrast to other AV companies.
May Mobility also offers a differentiated approach to its AV technology. With a deep understanding of the commercialization challenges, the company’s proprietary Multi-Policy Decision Making (MPDM) technology can adaptively handle situations it hasn’t encountered before. And the technology’s ability to imagine multiple scenarios in real time enables May Mobility to scale to new markets and cities on a fraction of the capital required by other AV systems. The company has deployed its AVs in 12 cities in the U.S. and Japan.
May Mobility’s recent deployments and upcoming sites in the United States include Arlington, Tex., Ann Arbor, Mich., Contra Costa, Cali., Detroit, Mich., Grand Rapids, Minn., and Sun City, Ariz. with more scheduled in the coming months.
Anna Brunelle Hired As CFO
Brunelle joined the company at a crucial time, assisting May Mobility through this investment round, and will be evaluating additional long-term strategies for growth and development. And Brunelle spent 25 years in finance at technology growth companies and 15 years as CFO with public and private entities, including Ouster, TiVo, and GlobalLogic, where she played a key role in business strategy, fundraising, partnerships, and mergers and acquisitions.
Brunelle has also guided multiple companies through a public offering process and on to profitability. As CFO, Brunelle’s diverse skill set, including leading strategy, finance, accounting, investor relations, and business analytics, will help May Mobility achieve growth targets and reach profitability.
By working with May’s leadership team, Brunelle will join the company’s mission to transform communities with AV technology, which exponentially increases the positive impact of our microtransit within the regions we serve. And Brunelle holds a bachelor’s in business administration and accounting from the California Polytechnic State University-San Luis Obispo.
Quotes About The Funding Round
“Our success in this fundraising is a strong validation of May’s proven business model and provides the fuel and momentum to realize our next phase of growth. Our approach has been to work with best-in-class partners to bring our technology and services to market and we’re excited to partner with a leading multinational technology firm of NTT’s caliber and to develop our business in Japan together.”
“Autonomous transportation has a significant role to play in transforming our cities and improving our lives. With this financing, we expect to expand our vision of making transportation more safe, sustainable, and accessible for all.”
- Edwin Olson, CEO and co-founder of May Mobility
Quotes About Anna Brunelle As CFO
“Working with cities allows May Mobility to deploy fleets of vehicles with attractive unit economics. As CFO, Anna will help May Mobility on its path to becoming the first profitable AV company.”
- Edwin Olson, CEO and co-founder at May Mobility
“I’m excited to join the high-caliber team at May Mobility. This company has been demonstrating tremendous progress in bringing autonomous vehicle technology to market and I look forward to contributing to its continued success and vision.”
- Anna Brunelle
