What is Turo?
Headquartered in San Francisco, Turo operates a sophisticated online platform that facilitates peer-to-peer car sharing. By connecting vehicle owners with individuals seeking temporary transportation, the company has effectively decentralized the rental car industry. Turo's market position is defined by its ability to leverage existing vehicle assets, providing a more flexible and diverse inventory compared to legacy rental agencies. The platform's growth is supported by a robust technological framework that manages insurance, verification, and payment processing, ensuring a seamless transaction environment for its global user base.
How much funding has Turo raised?
Turo has raised a total of $467.6M across 8 funding rounds:
Series A
$13M
Private Equity
$5.9M
Series B
$25M
Series C
$47M
Series D
$91.7M
Corporate Investment
$250M
Series E
$30M
Debt
$5M
Series A (2011): $13M with participation from Shasta Ventures, GM Ventures, Google Ventures, and August Capital
Private Equity (2013): $5.9M, investors not publicly disclosed
Series B (2014): $25M supported by Trinity Ventures and Canaan Partners
Series C (2015): $47M featuring August Capital, Trinity Ventures, Kleiner Perkins, Canaan Partners, Google Ventures, and Shasta Ventures
Series D (2017): $91.7M backed by Founders Circle Capital, Shasta Ventures, GV, Trinity Ventures, August Capital, Canaan Partners, Daimler, and Kleiner Perkins Caufield Byers
Corporate Investment (2019): $250M with participation from IAC
Series E (2020): $30M led by Larry Fitzgerald and 2 Chainz
Debt (2020): $5M supported by PPP
Key Investors in Turo
IAC
IAC/InterActiveCorp is a prominent media and Internet conglomerate that operates a diverse portfolio of digital brands and platforms, providing strategic support to high-growth technology companies.
Kleiner Perkins
Kleiner Perkins is a premier venture capital firm based in Menlo Park, known for backing transformative technology and life science companies from their early stages through to IPO.
Canaan Partners
Canaan Partners is an early-stage venture capital firm that invests in technology and healthcare, supporting founders with deep expertise in enterprise software and digital innovation.
What's next for Turo?
Looking ahead, Turo is positioned to capitalize on the shifting landscape of urban mobility and the increasing consumer preference for on-demand access over ownership. The recent influx of capital is expected to fuel further product development, potentially integrating advanced telematics and autonomous-ready features to maintain its competitive edge. As the company matures, the focus will likely shift toward optimizing unit economics and deepening its penetration in key international markets. By maintaining its commitment to community-driven growth and technological innovation, Turo remains a critical entity in the future of transportation, well-equipped to navigate the complexities of the evolving sharing economy.
See full Turo company page
