Audi leads $28M Series C round in Silvercar; developing Audi Shared Fleet
04 January 2016
Silvercar, a new car rental company which only offers silver Audis, announced its largest capital raise to date with a $28-million Series C equity issuance led by Audi. The Series C announcement comes as Silvercar unveiled enhanced digital and mobile platforms designed for an optimized user experience and expands into Las Vegas, its 12th market. Silvercar also received funding from Series B investors including Austin Ventures and Eduardo Saverin, co-founder of Facebook.
The funding will enable Silvercar to accelerate its award-winning airport car rental business and expand to new markets nationwide. Additionally, as part of the next phase of Silvercar’s partnership with Audi, the companies will work in tandem to develop Audi Shared Fleet, a turnkey solution for businesses looking to provide accessible transportation to their employees on corporate campuses.
In addition to the immediate financial impact, Audi North America President Scott Keogh will be joining Silvercar’s Board of Directors. Keogh will join Ken DeAngelis, Austin Ventures, Samrat Ganguly, Velos Partners, Blair LaCorte, formerly of Texas Pacific Group, and Silvercar CEO Luke Schneider on the board.
Silvercar represents not just the future of the car rental industry, but a vision for the future of mobility. We want to utilize the company’s strengths in technology and innovation to merge connectivity and mobility for today’s consumer.
—Scott Keogh
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