HyreCar

Carsharing marketplace for rideshare drivers

San Francisco, California, United States

About HyreCar

HyreCar operates a carsharing marketplace tailored for the ridesharing industry, connecting vehicle owners with idle cars to rideshare drivers in need of vehicles for services like Uber and Lyft. The platform allows car owners to earn passive income from their unused vehicles while providing drivers with flexible rental options without the burden of long-term commitments or high upfront costs. HyreCar generates revenue by charging fees to both car owners and drivers for facilitating these transactions. Additionally, the company offers a commercial solution for fleet owners, enabling businesses to list multiple vehicles on the platform. To enhance user confidence, HyreCar provides insurance coverage during rentals, ensuring a secure experience for both parties. The goal of HyreCar is to create a seamless carsharing experience that promotes entrepreneurship and flexibility within the growing ridesharing market.

San Francisco, CaliforniaHeadquarters
2014Year Founded
$1.5MTotal Funding
IPOCompany Stage
Automotive & Transportation, Consumer SoftwareIndustries
51-200Employees

Benefits

Competitive salary & company stock grants
Medical, Dental, & Vision benefits
Quarterly Mental health days
401K
Unlimited PTO & paid company holidays
Professional training & education reimbursement

Risks

Uber's expansion into new markets could reduce HyreCar's market share.
New ordinances like Seattle's PayUp could increase HyreCar's operational costs.
Uber's investments in mobility fintech startups may attract drivers away from HyreCar.

Differentiation

HyreCar connects car owners with gig drivers, unlike traditional car rental services.
The platform offers insurance coverage during rentals, ensuring peace of mind for users.
HyreCar's model allows for unlimited fleet scalability, meeting fluctuating transportation demands.

Upsides

Rising gig economy jobs increase demand for HyreCar's flexible vehicle access.
Urban residents opting out of car ownership boost HyreCar's car-sharing market potential.
AI integration in fleet management can optimize HyreCar's vehicle allocation and maintenance.

Funding

Total raised$1.46 M
Latest valuation$9.45 M
StageIPO
ACQUISITION
4/30/2023
$9
$9.45 M
POST IPO EQUITY
12/31/2022
$4
IPO
5/31/2018
$13
$58.00 M
DEBT
1/31/2018
$2
SEED
9/30/2016
$1
$5.00 M