SILVERCAR AND AUDI

Audi Leads $28M Investment In Rental Startup Silvercar

Silvercar, a startup rethinking the auto rental experience in airports, already seems pretty tied to Audi — after all, every vehicle that Silvercar rents out is a silver Audi. Now the companies are deepening that relationship with a $28 million Series C investment.

Audi led the round, with the company’s North American president Scott Keogh joining Silvercar’s board of directors. Silvercar and Audi are also looking beyond airports with a new initiative called the Audi Shared Fleet, where businesses will be able to offer cars to employees on their corporate campuses.

“Silvercar represents not just the future of the car rental industry, but a vision for the future of mobility,” Keogh said in the funding release “We want to utilize the company’s strengths in technology and innovation to merge connectivity and mobility for today’s consumer.”

Silvercar has raised a total of $60 million in funding. Previous investors Austin Ventures and Facebook co-founder Eduardo Saverin also participated in the new round.

The service doesn’t just offer every customer access to the same high-end vehicle. It also streamlines the reservation and payment process, allowing you to make bookings through a mobile app and unlock the car by just scanning a QR code.Writer Ryan Lawler (now sadly departed from TechCrunch) tried the service out three years ago in Dallas-Fort Worth, Silvercar’s very first airport. He came away impressed with “the ease of getting in and out of the airport rental dock,” and he suggested that business travelers, in particular, might be willing to pay a premium to get a better experience. (The exact pricing varies from market to market.)

The company says its business tripled in 2015, and it’s now launching in its twelfth market, Las Vegas, just in time for this week’s Consumer Electronics Show.

FEATURED IMAGE: SILVERCAR

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