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RelayRides’ successful transition from short-term to long-term and airport rentals suggests that traditional car rental companies always had their eyes on the right market, but were not fast enough to adapt to the changing marketing and experience demands of a more digital customer.
Over the past year, peer-to-peer car rental startup RelayRides has been growing its average rental times and revenues by focusing specifically on daily and multi-day rentals. On the strength of its results, the company has raised an additional $25 million in Series B funding led by Canaan Partners.
The funding comes as RelayRides has been changing up its business to focus on longer-term rentals, rather than hourly or daily rate. Over the first few years of its existence, RelayRides tried to compete with Zipcar and Getaround, both of which were focused on providing on-demand access to rentals.