Getaround runs an app-enabled carsharing marketplace where vehicle owners list cars for short-term rental and renters unlock and use vehicles via mobile. The platform integrates GPS, telematics and insurance, offering owners recurring revenue and renters flexible access without ownership. Getaround serves urban markets with emphasis on convenience, contactless access and insurance-backed rentals. The company also supports business accounts and longer-term rentals through partnerships with fleets and mobility providers.
What Is Getaround and What Does It Do?
Getaround, founded in 2011 by Elliot Kroo and Jessica Scorpio, is a San Francisco–based (United States) peer-to-peer carsharing platform that enables owners to rent cars through a mobile app with remote unlock and telematics. The company reported 128 employees (as of Dec 31, 2022). Getaround’s stack combines marketplace, remote access hardware and insurance integration to provide frictionless short-term access to vehicles for urban renters and visitors.
How Much Funding Has Getaround Raised?
1. Venture Debt
- Amount Raised: $25M
- Date: November 13, 2020
- Lead Investors: Horizon (reported)
- Motivation: Support growth and working capital.
2. Series E
- Amount Raised: $140M
- Date: October 14, 2020
- Lead Investors: People’s Fund, Reinvent Capital, SoftBank Vision Fund, Menlo Ventures (syndicate)
- Motivation: Scale product, fleet growth, and market expansion.
Total Funding Raised: $736 Million
Current Valuation: $1.7 Billion (as of Sep 06, 2019)
Latest Funding Date: January 24, 2024
Key Investors
1. SoftBank Vision Fund
- Details: One of the world’s largest technology investment funds.
- Investment Focus Areas: Mobility, AI, logistics, deeptech, digital marketplaces.
- Notable Investments: Uber, Grab, DoorDash, OYO, Didi.
2. Menlo Ventures
- Details: Silicon Valley VC firm backing early and growth-stage innovators.
- Investment Focus Areas: SaaS, mobility, fintech, consumer marketplaces.
- Notable Investments: Roku, Uber, Chime, PillPack, BlueVine.
3. General Catalyst
- Details: Global investor focused on resilience-driven, long-term technology bets.
- Investment Focus Areas: Transportation, fintech, healthcare, security, enterprise SaaS.
- Notable Investments: Stripe, Airbnb, HubSpot, Samsara, Snap.
4. Reinvent Capital
- Details: Investment firm led by Reid Hoffman and Mark Pincus targeting disruptive tech.
- Investment Focus Areas: Mobility, AI, consumer tech, next-gen infrastructure.
- Notable Investments: Aurora, Joby Aviation, Zymergen, Aurora SPAC.
5. Horizon Technology Finance
- Details: Venture lending firm supporting high-growth tech companies.
- Investment Focus Areas: Mobility tech, SaaS, healthcare IT, clean energy.
- Notable Investments: Nuvve, Evolv, LendingClub, Sonex Health.
Where Is Getaround’s Headquarters?
Getaround is headquartered in San Francisco, United States.
What’s Next for Getaround?
Getaround will focus on fleet partnerships, telematics optimization, and monetization strategies to stabilize unit economics while expanding B2B relationships and improving gross margins per trip.
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