RelayRides Raises an Additional $10M in Series B Funding Bringing Total to $35M, Increases Owner Earnings and Cuts Rental Prices at SFO


RelayRides CEO, Andre Haddad, shares an important update on company financing as well as big plans to grow RelayRides’ airport business.

Last month, we were excited to announce we had raised $25M in Series B funding from leading venture capital firms Canaan Partners, August Capital, Google Ventures and Shasta Ventures. We continue to be very excited about the opportunities this round of funding creates in terms of rolling out new products and services, expanding to new geographies and, most importantly, delighting the RelayRides community. Today, I am extremely pleased to announce we have raised an additional $10M, primarily from our partners at Trinity Ventures, and are turbocharging our airport experience.

What Does This Mean to the RelayRides Community?

Over the last year, we have been collecting feedback from our community on how to offer the best possible airport car rental experience for both owners and renters. With our latest round of funding, we plan to double down on the airport renter and owner experience. In summary, owners will earn more money than ever before with RelayRides and renters will pay the lowest rates available in the market. Here are the details:

RelayRides Owners: More Earnings and Free Valet Service

Monthly Airport Parking Effective today, we are introducing new market-leading compensation for car owners parking their cars at the RelayRides airport parking lot at SFO. Owners taking advantage of our monthly airport parking can now make up to $600 per month, depending on the year of the car and vehicle type.

Earnings_per_month

Long-duration compensation for rentals at RelayRides SFO lot

Airport Parking We are also thrilled to unveil new per mile compensation for owners parking their cars for a shorter duration. Standard vehicles will earn up to $0.20 per mile, and luxury cars up to $0.40 per mile, depending on vehicle year.

Pricing_per_mile

Per mile compensation for rentals at RelayRides’ SFO lot

Free Valet Service For car owners who are not traveling but wishing to rent their cars at SFO, we now offer the option to have our airport valet handle the car drop off and renter check in—for free. Here’s how it works: once the renter and owner have made arrangements for an airport pick-up, car owners drop off their car at the RelayRides SFO lot before the rental begins, RelayRides then manages the key exchange with the renter at the start of the rental. We had been testing this program with a small group of car owners for a $15 fee, and after hearing overwhelmingly positive feedback, we are now offering this to all car owners renting at SFO and waiving all fees. To take advantage of this service, email us at airport@relayrides.com with your rental information.

RelayRides Renters: Lowest Rental Prices At SFO

Starting today, RelayRides is introducing the lowest car rental prices available at SFO with rentals starting at $10 per day. Not only will renters benefit from the lowest rental prices in the market, they will have access to an unbeatable selection of vehicles. Additionally, renters can expect unparalleled convenience with shuttle service to and from our parking lot and to the terminal.

RelayRides at Airports: What Next

While these amazing services and offers are currently only available at SFO, we have immediate plans to expand our airport parking and valet services across the country. By leveraging our existing nationwide marketplace inventory, we plan to rapidly expand to other airports in the coming months. Thank you for your support!

Andre