Alto Closes $17 Million Series A Funding Round To Accelerate Development Of Next-Generation Alternative Investment Ira Platform

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Founded in 2018, Alto is the first W-2 employee-based, on-demand ride-hailing company rethinking the business model of a traditionally inconsistent, gig-based industry. By hiring vetted, professional drivers and managing a dedicated, company-owned fleet of 5-star crash rated vehicles, Alto offers the safest, most consistent, and highest quality passenger experience on the market today. Alto hires W-2 employee drivers and provides in-depth training to help drivers deliver on Alto’s consistently hospitable customer experience with every ride. In addition, Alto manages its owned vehicle fleet and brings advanced logistics and optimization to the ride-hailing space, reducing the number of unutilized vehicles on the road and leading to less congestion and lower emissions in the cities in which it operates. Alto has always set the standard in cleanliness in the rideshare industry, and has dedicated staff that deep clean the fleet multiple times per day. Drivers also clean the vehicle between every ride. During the COVID-19 pandemic, Alto doubled-down on its commitment to safety and cleanliness with the installation of industry-leading protective equipment, technology, and cleaning and disinfecting procedures including HEPA cabin air filters and custom designed and built plexiglass barriers between the driver and passenger compartments. Alto leads the industry in in-car experience. The Alto app acts as a passengers “remote control” to their ride, including the ability to set the “vibe” (music and conversation preferences) and control the lights of the car for easy identification. Currently available in Dallas, Houston and Los Angeles, Alto has plans to bring its elevated rideshare experience nationally in the near future. For more information, visit www.ridealto.com.