San Francisco-based car sharing company Turo has secured $250 million in Series E funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced July 17 and financed by IAC.
According to its Crunchbase profile, "Turo is a car-sharing marketplace where travelers can rent any car they want, wherever they want it, from a community of local car owners. Travelers choose from a unique selection of nearby cars, while car owners earn extra money and help fuel the adventures of travelers they meet along the way."
The 11-year-old company has raised 10 previous funding rounds, including a $5 million secondary market round in 2018.
The round brings total funding raised by San Francisco companies in commerce and shopping over the past month to $354 million, an increase of $187 million from the month before. The local commerce and shopping industry has seen 196 funding rounds over the past year, raking in a total of $4.7 billion in venture funding.
In other local funding news, media and entertainment company Patreon announced a $60 million Series D funding round on July 16, led by Glade Brook Capital Partners.
According to Crunchbase, "Patreon is a membership platform that makes it easy for artists and creators to get paid. It operates a platform that enables content creators, as well as artists, to be able to fund their work."
Founded in 2013, the company has raised four previous rounds, including a $59 million Series C round in 2017.
Meanwhile, computer vision company Pivot raised $17 million in Series A funding, announced on July 18. The round's investors were led by DCM Ventures.
According to its Crunchbase profile, the company, which was previously known as SmartSpot, "uses 3D cameras to capture a 3D portrait of your body in motion. They determine the orientation of your body over 30 times per second to give accurate, real-time reporting of your form."
Pivot last raised $1.8 million in seed funding in 2015.
Also of note, subscription service and email company Substack raised $15 million in Series A funding, announced on July 16.
From Crunchbase: "Substack makes it simple for a writer to start an email newsletter that makes money from subscriptions. They provide web and newsletter publishing tools that are purpose-built for paid subscriptions."
The company previously raised $2 million in seed funding in 2018.
Rounding out the city's recent top local funding events, data storage company InCountry raised $15 million in Series A funding, announced on July 18 and led by Mubadala Investment Company.
From Crunchbase: "InCountry is a data residency-as-a-service platform that enables global data compliance for international business. The platform securely stores, processes and regulates profile data in its country of origin, helping multinationals scale by providing easy integration in under ten minutes."
The company previously raised $7 million in seed funding earlier this year.
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