Turo operates one of the world’s most recognized peer-to-peer car-sharing platforms, connecting vehicle owners with guests seeking flexible, affordable rental options. Through its marketplace, users can list their cars, manage bookings, and earn revenue, while renters gain access to a wide range of vehicles—from everyday cars to premium models. Turo provides built-in insurance, secure payments, and contactless handoff options, making the experience seamless for both sides. Supported by major investors and continuous innovation, Turo remains at the forefront of mobility, modern vehicle-sharing ecosystems, and alternative transportation solutions.
What Is Turo and What Does It Do?
Turo, founded in 2010 by Shelby Clark, is a San Francisco–based (United States) peer-to-peer car-sharing marketplace. Turo employs a lean operational team and enables vehicle owners to list their cars for rent while providing renters access to thousands of vehicles across categories. The platform handles insurance, payments, and scheduling while offering contactless pickup and managed host tools. Turo’s system transforms vehicle ownership into a revenue-generating model and provides renters with a flexible, modern alternative to traditional car rentals.
How Much Funding Has Turo Raised?
1. Series F
- Amount Raised: $35M
- Date: Apr 03, 2022
- Motivation: Enhance marketplace capabilities and expand mobility partnerships.
2. Series E
- Amount Raised: $30M
- Date: Feb 06, 2020
- Lead Investors: Manhattan Venture Partners, Allen & Company
- Motivation: Accelerate U.S. expansion and improve host tools and insurance integrations.
Total Funding Raised: $523M
Current Valuation: $1B (as of Jul 2017)
Latest Funding Date: April 2022
Key Investors
1. Canaan Partners
- Details: Early-stage venture firm backing disruptive consumer and tech companies.
- Investment Focus Areas: Marketplaces, consumer tech, healthcare, SaaS.
- Notable Investments: DoorDash, Instacart, Match Group, LendingClub, Kabam.
2. Trinity Ventures
- Details: Venture capital firm known for supporting high-growth technology and marketplace startups.
- Investment Focus Areas: Marketplaces, SaaS, consumer tech.
- Notable Investments: Starbucks, New Relic, Zulily, Ancestry, TubeMogul.
3. Google Ventures (GV)
- Details: Alphabet’s venture arm investing across frontier and scalable technologies.
- Investment Focus Areas: AI, mobility, enterprise software, consumer platforms.
- Notable Investments: Uber, Nest, Slack, Stripe, Impossible Foods.
Where Is Turo’s Headquarters?
Turo is headquartered in San Francisco, California, a hub for mobility innovation and digital marketplace ecosystems.
What’s Next for Turo?
Turo aims to widen its global footprint, deepen insurance and automaker partnerships, and introduce more advanced host tools powered by AI. As demand for flexible mobility rises, the company plans to strengthen its supply base, streamline onboarding, and enhance trust and safety systems to support broader adoption of peer-to-peer car sharing.
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