Flightcar operates a valet-based airport car-sharing service that insures and cleans cars while paying owners for each day their vehicle is rented. By September of last year it had struck deals with three airports — San Francisco, Boston, and L.A. — as it pursued rapid expansion. Investors encouraged scaling and the company has raised roughly $40 million to date, including a $20.7M Series B. The business recently underwent a major restructuring that removed two of three founders and multiple senior executives and cut staff from roughly 150 (about 25 corporate employees and 125 valets) to a little more than half that headcount. The restructuring followed customer complaints on Yelp about dirty cars, canceled reservations and service issues during expansion. Acting CMO Julie Sapan said the company is "evolving our model to sharpen our focus and double down on the remarkable organic growth" and that more details will come in the coming year. FlightCar operates a peer-to-peer car-sharing marketplace that allows people to rent their cars to other travelers instead of leaving them unused at airports. The service is live at San Francisco, Boston and Los Angeles airports and has over 30,000 members. Co-founded by CEO Rujul Zaparde (age 19) and Kevin Petrovic (age 20), the company graduated from Y Combinator and The Brandery. FlightCar is based in San Francisco and plans to use new funding to expand into many new locations. The company has received $20M in total funding to date, including the recent $13.5M Series A. FlightCar operates a peer-to-peer airport car rental marketplace that lets departing travelers list their vehicles at airport lots for incoming visitors to rent. Vehicle owners receive gas cards up to $10 per rented day or free parking (saving up to $18 per day) if their car is not rented; FlightCar also provides a free wash for listed cars and a valet service to and from the airport. Cars must have been made by 1999 and have fewer than 150,000 miles to be listed. The service is backed by a $1 million insurance policy covering owners and renters. FlightCar launched at San Francisco International Airport and plans to expand to Boston next, with hopes of operating at two or three additional airports by the end of the year. Financially, the company has raised a $5.5M Series A and previously secured $590,000 in seed funding. FlightCar operates a marketplace that allows vehicle owners who have parked at the airport to rent their cars to other travelers. Every rental is insured up to $1M and every renter is pre-screened. The service is run by founders Rujul Zaparde, Kevin Petrovic and Shri Ganeshram. FlightCar is based in San Francisco, CA and is currently a member of the Y-Combinator W13 class graduating in March. The company also participated in the Cincinnati-based startup accelerator The Brandery.

Total raised

$40M

Funding rounds

4

Latest round

Series B

Latest activity

Oct 2015