RelayRides Raised $47M in Round C & Renamed itself as Turo

It’s time to say goodbye to peer-to-peer car rental service RelayRides, and say hello to Turo! The company has just announced a $47M funding that came from Kleiner Perkins, along with Google Ventures, Shasta and Trinity Ventures.

The company previously raised $54 million in funding, most recently a $10 million round in August of last year. This round brings total funding to $101 million. Turo’s plan is to use the new funding to help enhance customer experience, accelerate customer acquisition, and expand into new geographies.

The company’s statement over the new name an re branding shows a new vision and a plan to expand its presence internationally. “As a memorable, aspirational brand that inspires adventure, Turo positions us squarely within travel and tourism,” Andre Haddad, CEO of Turo, said in a statement. “We envision a world where travelers can rent the perfect vehicle for their next adventure no matter where they are — a world where car owners transform their idle cars from depreciating assets into earning engines and help fuel travelers’ adventures.”

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Turo was founded in 2008, launched nationwide in 2012 and is currently based in San Francisco. Turo allows car owners to share their vehicle with friends and neighbors for a fee. So, basically, it lets the travelers to choose from a unique selection of nearby cars, while car owners earn extra money.

Owners can deliver their cars to custom locations around town, within a set radius, or travelers can pick up the car at the owner’s location. Currently Turo is serving users in over 2,500 cities, as well as in 300 airports, across the United States.

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