Turo

Valuation $2B

About Turo

Turo is a peer-to-peer car-sharing marketplace where customers can book vehicles from a community of local hosts.
Headquarters Turo, San Francisco
Founded 2009-01-01
Industry Car Sharing, InsurTech, Marketplace, Peer to Peer, Transportation
Last Funding Type Secondary Market
Valuation 2
Total Funding $570.07 million dollars
IPO Status Private

Financial

Turo may be growing as evidenced by several indicators. The company announced the launch of hosting teams to support hosts' growing businesses on the platform, which suggests an expansion of services and support for an increasing number of users. Additionally, Turo reported a total revenue of $408 million for the first half of 2023, indicating strong financial performance. The company has also expanded operations internationally, with the platform now live in France, and has formed strategic alliances with major travel entities such as Hopper, Kayak, Capital One, and Delta, further demonstrating its growth trajectory.

Turo has announced over 70 key product updates aimed at enhancing the car-sharing experience and supporting entrepreneurship. Additionally, Turo has partnered with Tint to provide an off-trip insurance program for hosts across all states. The company is also introducing new features to improve user experience, such as better browsing and instant booking options.
Funding Rounds 14
Number of Lead Investors 7
Total Funding Amount  $570.07 million dollars
Number of Investors 32

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