Turo Snugs $250M in Funding With $1B+ Valuation!

: July 17, 2019

Turo Snugged $250M in Funding At A Billion Dollar Valuation, To Become The Newest Unicorn In The Bay Area!



Turo, a P2P a peer-to-peer car sharing marketplace that allows you to book any car you want, wherever you want it. The company has raised $250M in a Series E round of funding from IAC, a media and Internet company with more than 150 brands and products serving loyal consumer audiences. This round gives Turo a billion dollar valuation, hence the company becomes the newest unicorn in the Bay Area.


Turo, with it's latest round has raised a total of $450M in funding to date. The company has attracted leading investors such as Kleiner Perkins, Canaan Partners, August Capital, GV, Shasta Ventures, Sumitomo Corporation, SK Holdings, Daimler AG etc.


Turo was founded in 2009 by Shelby Clark, the company was formerly know as RelayRides and changed its name to Turo in Nov 2015. The company offers a platform by which car owners can rent their cars. Turo claims its platform reduces rental costs compared to traditional car rental services. 


Turo has a community of over 10 million strong with more than 350,000 vehicles listed and over 850 unique makes and models available. Its insurance partners are Liberty Mutual in the US, Intact in Canada, and Allianz in Europe.