CapitalG (formerly, Google Capital Growth), Alphabet’s growth investment fund, is leading a $1 billion financing round in Lyft. The latest investment brings Lyft’s post-money valuation to $11 billion. CapitalG partner David Lawee is joining Lyft’s board.

Lyft is now available to 95% of the U.S. population — up from 54% at the beginning of the year. In a blog post, Lyft said the company completed its 500 millionth ride earlier this month.

[Image courtesy: Lyft]