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Thiel’s Mithril leads $40m Series C for train journey planner SilverRail

15 Apr 2014

news_traintrack_lrgMithril Capital, the venture capital firm co-founded by PayPal’s Peter Thiel, has led a $40m Series C financing round for train journey planning and management company SilverRail.

Existing investors Canaan Partners, Sutter Hill Ventures and Brook Ventures also took part in the round, which SilverRail said would be used to continue building next generation technology and expand carrier IT developments.

Fellow Mithril co-founder Ajay Royan said, “There are two critical global networks that have never worked well together – web and rail.

“Currently, a lot of time, energy, and data are being wasted.

“By upgrading the interactions among users, operators, and travel agents, SilverRail is making train travel much easier than air.”

SilverRail is connected to markets accounting for $60bn in rail transactions throughout North America and Europe, and in the last year has added connections in Spain, Italy and Sweden.

The company is also looking to move into Asia, with the goal of having all major global rail carriers integrated over the coming years.

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