Transport Cars

Car share service Getaround raises $13.9 million to expand into new markets

Excerpt from TechCrunch

Aug 02, 2012 11:03 am

Skift Take

Although there are still a few pieces (insurance, ahem) that need to fall into place, recent partnerships between RelayRides and OnStar and an investment in Carpooling.com by Daimler point to a good future for car shares.

— Jason Clampet

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Peer-to-peer car sharing service — and former TechCrunch Disrupt winner — Getaround just raised $13.9 million in new funding to expand into new markets and improve its product. It’s also rolling out a new product called Getaway that will let users who never use their cars to rent them out for months at a time, with Getaround managing rentals and handling all maintenance.

Getaround’s $13.9 million Series A round was led by Menlo Ventures, with managing director Shervin Pishevar joining the company’s board. Other investors include new Yahoo CEO Marissa Mayer, A-Grade Investments, and Eric Schmidt’s Innovation Endeavors, as well as Collaborative Fund, SOSventures’ Sean O’Sullivan, Correlation Ventures, HotelTonight CEO Sam Shank, Yammer CEO David Sacks, Saba Software CEO Bobby Yazdani, Hoteles.com founder Matias de Tezanos, Clarity.fm founder Dan Martell, and .CO CEO Juan Diego Calle.

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