Waymo is also competing fiercely with Uber in the creation of technology for autonomous cars and is embroiled in a lawsuit over what it says is Uber's use of stolen Waymo trade secrets to develop such technology. As part of the investment, CapitalG partner David Lawee will join Lyft's board.
The company declined to comment on other participants in the round.
Alphabet is also a shareholder in Uber Technologies, Lyft's largest rival, through its investment arm GV.
Earlier this month, Lyft completed 500 millionth ride and its service is now available to 95% of the U.S. population - up from 54% at the beginning of the year, the company said in a statement. General Motors president Dan Ammann also sits on Lyft's board.
Transport for London (TfL), which oversees taxi and private hire car operators, published details of the meetings with Lyft executives in response to a UK government freedom of information request in July. Analysts had expected profit in 2018 to be about $5.20, according to average estimates compiled by FactSet, though that average was quickly moving higher as notes poured in Thursday morning. After GM acquired Cruise, the automaker's priorities shifted and Lyft lost a bit of its leverage in the relationship, people familiar with the matter said.