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Beep, Inc., a leader in autonomous mobility solutions, today announced the completion of its merger with Freebee, a leading provider of on-demand public transportation, uniting two of the industry\u2019s most innovative mobility companies to create a powerful new leader spanning both microtransit and autonomous transportation solutions.<\/p>\n
The merged entity brings together Freebee\u2019s proven human-driven microtransit platform, proprietary technology, extensive municipal relationships and large-scale operating network with Beep\u2019s deep experience implementing autonomous mobility systems through its AI-driven AutonomOS software platform, which builds on Beep\u2019s years of experience operating autonomous vehicles to make it easier to use and manage physical AI across transportation networks.<\/p>\n
Founded in Miami, Freebee is a leading provider of on-demand, door-to-door microtransit solutions powered by 100% electric vehicles. Freebee currently serves more than 50 municipalities, campuses and business districts throughout the Southeast with a fleet of more than 300 vehicles and delivers more than 2 million rides annually.<\/p>\n
Key highlights of the new Beep:<\/p>\n
Proven impact \u2013 Over 10 million riders safely carried to date
\nGeographic reach \u2013 Operating in more than 60 communities
\nOrganizational depth \u2013 Nearing 1,000 employees
\nMarket momentum \u2013 Significant revenue and strong growth trajectory<\/p>\n
The company will operate under the Beep name, led by Beep co-founder Kevin Reid as chairman and chief executive officer, while Freebee co-founders Kris Kimball and Jason Spiegel will join the executive team as chief operating officer and president and chief growth officer, respectively. Beep co-founder Mark Reid will serve as chief customer officer. The company\u2019s microtransit solutions will continue to operate under the Freebee brand.<\/p>\n
\u201cJoined by Freebee, Beep is now among the largest microtransit providers in the country, offering 50 new communities and more than 2 million annual riders access to our full-stack platform that integrates human-driven and autonomous transit services into a single, flexible offering,\u201d said Kevin Reid. \u201cThis transaction accelerates the industry\u2019s journey to autonomous mobility, giving communities the ability to implement meaningful services today while giving people the flexibility to choose between human-driven, autonomous or blended transportation solutions.\u201d<\/p>\n
The combined company will continue expanding Freebee\u2019s microtransit services while introducing autonomous capabilities where they provide the right operational, economic and community fit. Customers will be able to deploy human-driven, autonomous or blended mobility networks through a single partner, allowing them to address immediate transportation needs while establishing a practical pathway toward autonomy over time.<\/p>\n
\u201cFreebee was built around a simple belief that transportation should do more than move people\u2014it should strengthen communities, expand access and improve quality of life,\u201d said Spiegel. \u201cBringing Freebee and Beep together creates a company capable of delivering future-proof mobility solutions. I\u2019m incredibly proud of what our team has built and excited to offer customers a more comprehensive mobility platform.\u201d<\/p>\n
This announcement follows the closing of Beep\u2019s Series B fundraising round, led by Mobileye, a global leader in autonomous vehicle technology and advanced driver-assistance systems, with participation from existing investors.<\/p>\n
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, and North River Capital Advisors, LLC, acted as advisors to Beep.<\/p>\n
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