Bridj is shutting down.
Matt George, CEO and founder of the data-driven shuttle bus service, said the Boston startup made the difficult decision to wind operations down after a deal with a “major car company” fell through at the last minute.
The company had been operating in four cities — Boston, Washington, D.C., Austin and Kansas City — though it had ended operations in Kansas City earlier this month after a one-year pilot program with a local transit provider had failed.
In a post on Bridj’s website, George said the company was seeking the deal “in lieu of a traditional venture capital funding round” and that it would have been a “sizable transaction.”
“Despite assurances, and all parties acting in the best of faith, that didn’t happen,” George said. Continuing the company after the failed deal “would create an unacceptable level of risk for employees, investors, and customers,” he added.
Bridj had 50 employees, George said, and raised more than $4 million, according to Crunchbase. Investors included Accomplice, NextView Ventures and FreshTracks Capital.
“Through organizations that support the most vulnerable in our cities, and technologies that make cities more accessible, we have repeatedly seen how small innovations can ultimately affect billions of lives,” George said. “While we have been one small part of starting the conversation around mobility in the modern city, we hope that you will continue to support innovators and leaders who will pick up where we left off, delivering on the promise of what cities can and should be.”