Flywheel Picks Up $12M, And A New CEO

Mobile on-demand taxi app developer Flywheel, which has been attempting to leverage the existing taxi and transportation infrastructure in Los Angeles to go head-to-head against Uber, said Thursday that it has raised $12.0M in a Series C funding, and installed a new CEO and executive team. The new funding came from TCW, Rockport Capital, and Shasta Ventures. With the new funding, Flywheel also installed a new CEO and executive team--including both a new CTO and CFO--led by former Amazon VP Rakesh Mathur. Los Angeles has been one of the first three markets for Flywheel, which also serves San Francisco and Seattle.