To supplement our Series E fundraise led by IAC last summer, Turo is proud to announce that it has raised an additional $30 million from Manhattan Venture Partners (MVP), Allen & Company LLC, and others amounting to a total of $280 million in Series E funding.
This latest round of funding further strengthens our position as the global car sharing leader, and we’re personally very excited to welcome these pioneering investors into the Turo family.
As part of MVP’s investment, Turo is pleased to add several high-profile athletes and musicians to our roster of shareholders, including NFL stars Larry Fitzgerald, Dee Ford, Tyrod Taylor, Malcolm Jenkins, and Clint McDonald; NBA stars Victor Oladipo, Langston Galloway, and Thad Young; and renowned rapper 2 Chainz. Under the visionary leadership of Rashaun Williams, General Partner of MVP’s Allstar Fund, these savvy investors are particularly invigorating for the Turo portfolio, as they stretch the mold of the traditional Silicon Valley investor profile.
I was pleased to have hosted Mr. Williams, Mr. Fitzgerald, and Mr. McDonald a couple weeks back at a company conference in Scottsdale, AZ. During their talk, I was inspired and motivated by their insights in bringing lessons from the gridiron into the business space, namely around what it takes to win, teamwork, work ethic, and focus. While we’re obviously excited by the fresh influx of capital, I’m equally excited by the fresh perspective these investors bring to the team.
This funding and these investors will help us continue to gain momentum and market share as we pioneer the car sharing industry. Currently growing 60% year over year with a vibrant, bustling community of over 14 million worldwide with 450,000 listed vehicles, we’re invigorated by this latest burst of financial and inspirational adrenaline, and forge into this new decade more laser-focused than ever on our mission of putting the world’s 1.5 billion cars to better use.