Getaround, a San Francisco, CA-based carsharing platform that allows users to rent and drive cars shared by people in their city, raised $300m in Series D financing.
The round was led by SoftBank, with participation from Toyota Motor Corporation, and inside investors.
The company intends to use the funds to continue growing and expanding into new cities in North America and around the world, to develop mobility partnerships, launch new product offerings, create operational efficiencies, and continue innovating on its connected car technology.
Led by Sam Zaid, Founder and CEO, Getaround provides instant and keyless carsharing through integrated hardware and software platform. In addition, its patented technology integrates with global leaders in mobility such as Uber Technologies, Inc. and Toyota Motor Corporation.
This Series D marks another major milestone for the company. Since announcing its Series C funding in April 2017, Getaround has expanded and scaled new markets and is now available in 66 cities across the United States, with notable markets launched in the past year, including Boston, New Jersey, Los Angeles, Seattle, San Jose and Philadelphia.
In May 2017, the company and Uber launched an instant booking experience for potential drivers, empowering people without cars to earn money driving with Uber. Following this, the companies launched “Uber Rent powered by Getaround” in April 2018, allowing people to instantly rent and access Getaround cars directly through the Uber app.
During the same period, Getaround and Toyota expanded on their initial 2017 collaboration to create an innovative fully-connected sharing experience. Together the companies have created a car-sharing for Toyota and Lexus brand vehicles through the integration of Getaround’s platform with Toyota’s Smart Key Box (SKB) technology, alongside financial innovations that enable owners to make their monthly car payment from their Getaround earnings.