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Car-sharing service RelayRides raises $5.1M from Google Ventures

RelayRides, a crowd-sourced car-sharing service similar to Zipcar, has raised $5.1 million from August Capital and Google Ventures, according to a recent filing with the Securities and Exchange Commission.

VentureBeat reported that Google Ventures was investing an undisclosed sum into RelayRides back in December. It looks like the round is nearly complete — the company still wants to raise an additional $770,000, according to the regulatory filing. The document lists Howard Hartenbaum of August Capital and Joe Krauss of Google Ventures as investors in the round.

RelayRides lets any car owner list their vehicle on a site and rent it out in a way similar to Zipcar’s car-sharing service. Once listed, RelayRides sends a representative to attach a device to the car that lets any other RelayRides member access the car once reserved. The car owner sets the price, which is usually around 10 percent less than other car sharing services, and notes what time of the week the car will be available for rental.

The car owner gets 65 percent of the total rental fee, and RelayRides picks up 15 percent of the fee as a transaction cost. The rest of the rental fee goes toward insurance policies. Borrowers still have to pass a background check that ensures a clean driving record, even though there is an insurance policy in place.

RelayRides has been active in Boston for about nine months now, and the company was founded in November 2008. Zipcar is the site’s obvious competition — which already has wide distribution across the country and plans to go public in the near future. Angel investors accounted for $600,000 of the round, while the remainder of the funding came from Google Ventures and August Capital.

[Photo: pedrosimoes7]

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  1. [...] to a form D filed with the SEC, RelayRides has raised $3.6 million in a round of funding only five months after its last. Involved in the round are Google Ventures, August Capital, and newcomer Norwest Venture [...]

  2. [...] sharing startup RelayRides has raised $3.6 million in a round of funding only five months after its last, according to a form D filed with the SEC. Involved in the round are Google Ventures, August Capital [...]

  3. [...] RelayRides的概念類似民居短租服務Airbnb,允許私家車主在自己的車閒置的時候租用給別人,獲取一定收入。其在5個月前曾獲得Google Ventures等投資的510萬美元,不過近日一份SEC文件顯示其最近又再次獲得了由Google Ventures等幾家VC共同投資的360萬美元。 [...]

  4. [...] and secrets. Car sharing startup RelayRides has raised $3.6 million in a round of funding only five months after its last, in line with a form D filed with the SEC. Inquisitive about the round are Google Ventures, August [...]

  5. [...] RelayRides a soulevé 3,6 millions de dollars dans une ronde de financement de seulement cinq mois après sa dernière selon un forme D a déposé auprès de la SEC. Impliqué dans la ronde sont Ventures Google, [...]

  6. [...] RelayRides的概念类似民居短租服务Airbnb,允许私家车主在自己的车闲置的时候租用给别人,获取一定收入。其在5个月前曾获得Google Ventures等投资的510万美元,不过近日一份SEC文件显示其最近又再次获得了由Google Ventures等几家VC共同投资的360万美元。 [...]

  7. [...] Lynley / VentureBeat:Car-sharing service RelayRides raises $ 5.1M from Google Ventures  —  RelayRides, a crowd-sourced car-sharing service similar to Zipcar, [...]

  8. [...] RelayRides的概念类似民居短租服务Airbnb,允许私家车主在自己的车闲置的时候租用给别人,获取一定收入。其在5个月前曾获得Google Ventures等投资的510万美元,不过近日一份SEC文件显示其最近又再次获得了由Google Ventures等几家VC共同投资的360万美元。 [...]