By Greg Bensinger

Ride-hailing startup Lyft Inc. said it raised $1 billion in a funding round led by Alphabet Inc.'s CapitalG unit, boosting its valuation by nearly 50% as it eyes expansion.

The San Francisco firm said on Thursday is it now valued at $11 billion including the new funds. Lyft has raised some $3.61 billion in total.

CapitalG partner David Lawee is joining Lyft's board, bringing it to 10 directors.

Write to Greg Bensinger at greg.bensinger@wsj.com

(END) Dow Jones Newswires

October 19, 2017 11:51 ET (15:51 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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