Announcing our $140M Series E round
We are excited to announce our $140M Series E financing round, led by PeopleFund, with participation from an impressive global group of new and existing investors, including Reid Hoffman’s and Mark Pincus’ Reinvent Capital, Menlo Ventures, SoftBank, Braemar Energy Ventures, and others.
With this funding, we’ll further develop Getaround’s unique connected car technology, Getaround Connect®, which enables our fully contactless booking and pickup experience (no in-person key handoffs or dreaded rental counters!), expand our strategic partnerships to improve our offerings to users, and strengthen our position as a worldwide mobility leader.
There’s no doubt that, as with so many companies and communities, we have had a challenging run in 2020. Earlier this year, we made some very tough choices to set the company up for profitability and long-term growth . I am pleased to share that, through the commitment and tireless work of our entire team, we’ve demonstrated tremendous progress towards both of these objectives. With this latest Series E round of funding, our new and existing investors have shown bolstered confidence in our ability to achieve those objectives.
To our customers, thank you for the confidence you continue to place in us by sharing on Getaround. Thanks to you, we have experienced significant growth following a steep dip in business in the spring when COVID shelter-in-place orders were issued. In fact, our business has recovered to double its pre-COVID baseline. We’ve now exceeded 1 billion miles driven by our over 6 million users globally.
As we position ourselves for continued growth, and reaffirm our commitment to culture and diversity that we founders outlined in June, we recently made four new executive hires:
- Chief Operating Officer Dan Kim
- Chief Financial Officer Laura Onopchenko
- Vice President, People and Culture Tia Gordon
- Vice President, Customer Experience Ruth Yankoupe
They are an accomplished group who will be instrumental in supporting our next stage of growth, strengthening our company culture, and fostering diversity.
Finally, with the U.S. general election only weeks away, as I announced in June, we have made Election Day (November 3) a paid holiday for our U.S. employees as part of our commitment to their full participation in our representative democracy. If you are voting in-person, whether early or on November 3, please know that Getaround stands ready to help you get to the polls.
Thank you again for your continued confidence in Getaround and for embracing our vision of a world where every car is a shared car.
