HyreCar

What HyreCar does

HyreCar Inc. operated a two-sided, peer-to-peer car-sharing marketplace that connected individual vehicle owners with gig-economy workers, primarily rideshare drivers operating on Uber and Lyft, who needed flexible vehicle access without the cost or commitment of ownership. The platform allowed owners to monetize idle vehicles and provided renters with verification, insurance coverage, and short-duration rentals tailored to gig-work use cases. Car owners formed one primary segment, monetizing idle vehicles with built-in insurance and renter verification, while rideshare/delivery drivers formed the demand side, accessing affordable, flexible vehicle supply; the segmentation was horizontal across the long tail of individual consumers rather than concentrated in enterprise accounts.

Underlying the marketplace was a relatively conventional web-based matching and listing stack that handled vehicle onboarding, renter verification, and rental transactions; the platform's primary technical differentiator was operational (verification workflows, insurance integration) rather than algorithmic. Revenue was generated on a marketplace-commission basis, taking a percentage of the rental fee on each transaction between owner and driver. Distribution was domestic, single-country (USA), through a web marketplace accessible to individual owners and SMB renters. Operational scale at peak included 51-100 employees and a joint venture with AmeriDrive that placed over 1,000 fleet-supplied vehicles onto the platform.

HyreCar was incorporated in Delaware and traded on NASDAQ under the ticker HYRE. It raised disclosed funding of approximately $48 million across multiple equity rounds between 2016 and 2021, including a $29.7M raise in February 2021, and a further $17.25M in 2022-2023. Despite multi-year revenue growth from roughly $3.2M in 2017 to ~$35.7M in 2021, the company operated at a substantial and widening EBITDA loss every year on record. In May 2023, Getaround Inc. acquired HyreCar's assets, integrating the P2P car-sharing capability into its shared-vehicle offering and ending HyreCar's independent operations.

Name

HyreCar

Legal name

HyreCar Inc.

Website

https://hyrecar.com

Company type

Public

Founded year

2016

Operating status

Acquired

Headcount range

51–100 employees

Short description

HyreCar operated a US peer-to-peer car-sharing marketplace connecting individual vehicle owners with gig-economy drivers (primarily Uber and Lyft) needing short-term rentals, earning commission on each transaction until its May 2023 acquisition by Getaround.

Ownership category

akta.pro rank

Product category

Peer-to-Peer Car Sharing Marketplace

NAICS

Passenger Car Rental (532111), Automotive Equipment Rental and Leasing (5321), Taxi and Ridesharing Services (485310)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510), Transportation Services (4700)

akta.pro primary industry

Peer-to-Peer (P2P) Carsharing (TLAFAMAC)

akta.pro secondary industries

P2P Car Sharing for Hosts (Owner Supply & Management Tools) (THADABAB), P2P Car Sharing Fleet Operators (Managed P2P Fleets) (THADABAF), Car Rental & Car-Sharing Booking Platforms (BPAMAIAF)

Keywords

• Peer-to-peer car sharing
• Gig economy vehicle rentals
• Rideshare driver rentals
• Car sharing marketplace
• Vehicle rental platform

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales

Revenue model

1. Platform commission/transaction fees: HyreCar generated revenue by facilitating peer-to-peer car rentals through its marketplace platform, earning commissions on vehicle rentals between car owners and gig economy workers such as rideshare drivers.

Go-to-market motion1 record

Distribution channels1 record

Core offering

HyreCar operates a peer-to-peer car sharing marketplace platform that connects vehicle owners with gig economy workers, primarily rideshare drivers for Uber and Lyft. The platform enables car owners to list and rent their vehicles to verified drivers, providing insurance coverage and rental management services. The company also engaged in fleet partnerships, notably a joint venture with AmeriDrive that placed 1,000+ vehicles on the platform.

Product overview

HyreCar operated as a single peer-to-peer car sharing platform connecting vehicle owners with gig-economy drivers. The platform facilitated vehicle listings and rental coordination. Following its May 2023 acquisition by Getaround Inc., the standalone HyreCar platform ceased independent operations and its assets were integrated into Getaround's shared vehicle offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• HyreCar P2P Car Sharing Platform A peer-to-peer car sharing marketplace platform connecting individual vehicle owners with rideshare and gig-economy drivers. The platform handles vehicle listing, renter verification, rental coordination, and insurance coverage for the duration of each rental. Targeted at individual car owners seeking to monetize idle vehicles and gig economy workers needing vehicle access for rideshare services.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Getaround Inc.coreOthers · 1 May 2023Getaround Inc acquired HyreCar's assets in May 2023 to expand its shared vehicle offerings and strengthen its presence in the gig-economy mobility sector.
• AmeriDrivecoreStrategic or Co-development Partner · 6 January 2023Joint venture partnership where AmeriDrive purchased over 1,300 vehicles, with 1,000 listed on HyreCar's platform to serve gig economy workers. This partnership was a key growth initiative supported by the $12.25 million financing round.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Turo: Turo is the largest peer-to-peer car sharing marketplace in North America, connecting vehicle owners with renters. It is the most direct competitor to HyreCar's core marketplace model, though HyreCar targeted gig economy drivers while Turo serves a broader consumer base.
• Getaround: Getaround operated a P2P car sharing platform and ultimately acquired HyreCar in May 2023. It is a direct peer — comparable product, market, and customer segment — and is now HyreCar's parent company.

Broad incumbents

• Uber: Uber is the dominant rideshare platform whose drivers were HyreCar's primary end-customer base. While not a direct car-sharing competitor, Uber's driver economics, vehicle solutions (like Uber Vehicle Solutions), and platform policies directly shaped HyreCar's demand and risks.
• Lyft: Lyft is the second-largest US rideshare platform and a core demand source for HyreCar's rentals alongside Uber. Hyft (Lyft's rental arm) was also a competitor in gig-driver vehicle access, making Lyft both a customer-base anchor and a broad incumbent in adjacent offerings.
• Zipcar: Zipcar (owned by Avis Budget Group) is a station-based carsharing incumbent operating a large shared vehicle fleet. It overlaps with HyreCar's shared-mobility category but targets short-term urban consumers rather than gig drivers — a broader incumbent with adjacent offerings.
• Avis Budget Group: Avis Budget Group owns Zipcar and traditional car rental brands (Avis, Budget). It competes in adjacent vehicle access categories and could enter gig-driver rental programs, making it a broad incumbent in shared mobility and rentals.
• Enterprise Mobility: Enterprise operates one of the largest car rental fleets globally and offers commercial truck-sharing programs. Its scale and fleet-management capabilities make it a broad incumbent that touches HyreCar's host and rental management territory.
• Hertz Global Holdings: Hertz is a major global car rental company that has experimented with peer-to-peer fleet partnerships and EV rentals. It is a broad incumbent in the rental space with potential overlap to HyreCar's gig-driver rental segment.

Regional players

• Drivy (Getaround Europe): Drivy, now part of Getaround's European operations, was a P2P carsharing marketplace headquartered in Europe. It is highly comparable in product and model but operates in a different geography, making it a regional peer.

Emerging players

• Kyte: Kyte is an emerging player in on-demand car delivery and rental focused on airport and urban travelers, overlapping with HyreCar's mobility-on-demand thesis. It is an emerging, partially-overlapping peer rather than a direct marketplace competitor.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/hyrecar
• LinkedInlinkedin.com/company/hyrecar

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds7 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HyreCar