RelayRides, a San Francisco, CA, and Boston, MA-based neighbor-to-neighbor carsharing service, has closed a $10m Series A.2 funding.
New Investors Shasta Ventures and Lisa Gansky, sharing economy expert, entrepreneur and author of the “The Mesh: Why the Future of Business is Sharing”), are joining Google Ventures and August Capital.
The company intends to use the funds to cover its expansion throughout San Francisco city limits and beyond Cambridge, Mass., into the whole of neighboring Boston.
Led by founder and Chief Community Officer Shelby Clark, RelayRides allows car owners to make money while providing those in need of a car with affordable access to one. The connection between car lenders and borrowers is enabled by an easy-to-use platform. The company backs its service with a $1M insurance policy.