萝莉视频

Peer-to-peer car-sharing marketplace has raised $140 million in a Series E round of funding, the company announced Wednesday.

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The new round brings the company鈥檚 total funding to almost $600 million. Getaround last raised money with a $300 million led by the in August 2018, according to 萝莉视频.

Getaround鈥檚 revenue took a meaningful hit when COVID-19 first took hold, CEO said, with bookings dropping by around 75 percent. But now, the company鈥檚 worldwide revenue has more than doubled what it was before the pandemic happened.

鈥淭he reason we then saw a very quick rebound is … we were deemed an essential service, but that’s because we are an essential mobility tool in the lives of many of our customers,鈥� Zaid said in an interview with 萝莉视频 News.聽

To help protect themselves from COVID-19, many people have opted to avoid public transportation and ride-hailing services like Uber and Lyft. In fact, public transportation ridership in some cities, including San Francisco, has amid the pandemic, as has ridership for companies like .

鈥淲hen you look at the options, we provide one of the safest mechanisms and modes of transportation,鈥� Zaid said, noting that Getaround customers have been renting cars for longer periods of time amid the pandemic.聽

The company plans on using the new funding to focus on growing the markets it鈥檚 already in (Getaround is available in 300 cities across the U.S. and Europe) and continuing a 鈥渞easonable pace of expansion鈥� Zaid said.

Getaround is one of a few peer-to-peer shared marketplaces for transportation. Others include Turo, which also provides a car-share service, and Riders Share, a peer-to-peer motorcycle-sharing marketplace.

led the Series E round with new investors Pennant Capital, , , and VectoIQ partners , and joining for the round. Existing investors including , the SoftBank Vision Fund, , , , and also participated in the round.

Illustration: Li-Anne Dias