Peer to peer car sharing company, Turo has raised $250 million in Series E funding from internet and media holding company, IAC. This further strengthens its position in the global market as this latest round of funding brings it past the billion-dollar valuation mark.
IAC has a proven track record of creating and successfully growing companies — including Ticketmaster, Expedia, Match Group, and ANGI Homeservices (parent to HomeAdvisor, Angie’s List, and Handy) — as well as jumpstarting burgeoning brands and transforming them into household names (like Tinder and Vimeo).
Since its last fundraise in 2017, Turo’s growth, business model, and strong execution has firmly found its footing in the evolving mobility landscape. This fresh flood of funding will help the company to invest further in growth and refining the customer experience, to get it closer to its mission of putting the world’s one billion cars to better use.
Source: Turo Blog