About Turo
Turo is a company based in San Francisco (United States) founded in 2010.. Turo has raised $522.97 million across 16 funding rounds from investors including Sumitomo Corporation, SK and Mercedes-Benz. Turo has completed 4 acquisitions, including CarHopper, Croove and OuiCar. Turo operates in a competitive market with competitors including Getaround, Drivy, Car & Away, TravelCar and EVmo, among others.
- Headquarter San Francisco, United States
- Stage Unicorn
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Sectors
Travel & HospitalityTransportation, Automotive & Logistics
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Email
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Phone
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Website
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Social
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- Legal Name Turo Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$522.97 M (USD)
in 16 rounds
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Latest Funding Round
$35 M (USD), Series F
Apr 03, 2022
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Investors
Sumitomo Corporation
& 25 more
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Employee Count
Employee Count
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Investments & Acquisitions
CarHopper
& 3 more
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Software Development Team
109 people
Leadership Team
29 people
Senior Team
24 people
Sales and Marketing
22 people
Product Management Team
17 people
Operations Team
13 people
Legal and Compliance
8 people
Finance and Accounting
7 people
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Funding Insights of Turo
Turo has successfully raised a total of $522.97M across 16 strategic funding rounds. The most recent funding activity was a Series F round of $35 million completed in April 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 16
- Last Round Series F — $35.0M
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First Round
First Round
(01 Sep 2009)
- Investors Count 26
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2022 | Amount | Series F - Turo | Valuation |
investors |
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| Jul, 2020 | Amount | Debt – Conventional - Turo | Valuation |
investors |
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| Feb, 2020 | Amount | Series E - Turo | Valuation | Manhattan Venture Partners , Allen & Company |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Turo
Turo has secured backing from 26 investors, including institutional, angel, and venture fund investors. Prominent investors backing the company include Sumitomo Corporation, SK and Mercedes-Benz. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments are directed toward multiple sectors.
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Founded Year | Domain | Location | |
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Investment management firm focusing on venture capital and direct secondary transactions
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Founded Year | Domain | Location | |
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Venture capital is invested personally in fewer enterprises, with support provided for building game-changing businesses.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Turo
Turo has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include CarHopper, Croove and OuiCar. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Peer-to-peer car rentals are aggregated online for owners and renters.
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2016 | ||||
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Exotic car rentals are facilitated via an online booking platform.
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2015 | ||||
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Peer-to-peer car rentals are enabled online through OuiCar's platform.
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2012 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Turo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Turo Comparisons
Competitors of Turo
Turo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Getaround, Drivy, Car & Away, TravelCar and EVmo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
App-based peer-to-peer carsharing platform
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| domain | founded_year | HQ Location |
Peer-to-peer car rentals are enabled via an online marketplace.
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| domain | founded_year | HQ Location |
P2P carsharing and parking service
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| domain | founded_year | HQ Location |
App-based platform for car parking & rentals
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| domain | founded_year | HQ Location |
App-based car rental platform
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Turo
Frequently Asked Questions about Turo
When was Turo founded?
Turo was founded in 2010.
Where is Turo located?
Turo is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Turo?
Andre Haddad is the current CEO of Turo.
Is Turo a funded company?
Turo is a funded company, having raised a total of $522.97M across 16 funding rounds to date. The company's 1st funding round was a Series E of $30M, raised on Sep 01, 2009.
What does Turo do?
Founded in 2010 and headquartered in San Francisco, United States, Turo operates in the peer-to-peer vehicle sharing sector. Vehicle owners are connected with renters through an app available on Android and iOS devices. Bookings are enabled for preferred vehicles, with features such as insured rentals and contactless delivery provided. The platform supports users in hosting or accessing vehicles across various locations.
How many acquisitions has Turo made?
Who are Turo's investors?
Turo has 26 investors. Key investors include Sumitomo Corporation, SK, Mercedes-Benz, Kleiner Perkins, and IAC.
What is Turo's valuation?
The valuation of Turo is $1B as of Sep 2017.
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