Getaround, a San Francisco, CA-based carsharing platform that empowers users to instantly access and drive cars nearby, raised $140m in Series E financing, bringing its total amount raised to nearly $600m.
The round was led by PeopleFund with participation from new investors Reid Hoffman’s and Mark Pincus’ Reinvent Capital, AmRest founder Henry McGovern, Pennant Investors, and VectoIQ partners Steve Girsky, Mary Chan, and Julia Steyn, and existing investors SoftBank Vision Fund, Menlo Ventures, Braemar Energy Ventures, Triangle Peak Partners, Asset Plus Capital, Bpifrance, Cathay Innovation, and Via-ID. In conjunction with the funding, PeopleFund CEO Matias de Tezanos will join Getaround’s Board of Directors.
The company intends to use the funds to further develop its connected car technology which enables a fully contactless experience, expand strategic partnerships, strengthen its global position through continued long-term growth, and reach worldwide profitability.
Led by Sam Zaid, Founder & CEO, Getaround empowers people to access and drive cars shared by people in their city. Cars can be rented by the hour, or the day, with insurance included. By using the app, people skip the lines and paperwork at traditional rental car counters, and the hassle of buying and maintaining a car. Powered by proprietary connected car technology, Getaround creates a safe carsharing experience without the need to meet the car owner, carry an access card, or coordinate picking up a car key. People share everything and earn up to thousands in extra income each year, offsetting the high cost of car ownership while also making a positive impact on the environment.
Getaround has thousands of cars available in over 300 cities across the U.S. and Europe.
In conjunction with the Series E, the company has made four new executive hires:
- Dan Kim, who joins as Chief Operating Officer to lead its North American business,
- Laura Onopchenko, who joins as Chief Financial Officer ,
- Tia Gordon, who joins as Vice President, People & Culture,
- Ruth Yankoupe who joins as Vice President, Customer Experience and will manage the end-to-end customer journey for North America.