Getaround, a San Francisco, CA-based peer-to-peer car sharing service, has closed a $13.9m Series A financing.
The round was led by Menlo Ventures, with additional participation from Yahoo CEO Marissa Mayer, A-Grade Investments, Innovation Endeavors, Collaborative Fund, Sean O’Sullivan of SOSventures, Correlation Ventures, Sam Shank, CEO of HotelTonight, David Sacks, CEO of Yammer, Bobby Yazdani, CEO of Saba Software, Matias de Tezanos, Founder of Hoteles.com, Dan Martell, Founder of Clarity.fm, Juan Diego Calle, CEO of .CO and others.
The company intends to use the capital to continue to expand into receptive markets and develop new product features and technology.
Led by Sam Zaid, CEO and founder, Getaround operates a marketplace that gives people a chance to share their cars with others nearby. Launched in San Francisco in early 2011, the service has expanded into Austin, San Diego and Portland, signing up over 10,000 active and potential owners nationwide.
The company has launched Getaway, which gives owners the opportunity to rent their car full-time, with Getaround managing the rental process.