Fenwick & West represented Turo, Inc. in the $250 million Series E financing.
Founded in 2009, Turo, Inc. is a peer-to-peer car sharing marketplace.
IAC agreed to invest $250 million in Turo, bringing the company’s total funding to $470 million and making IAC the largest shareholder in Turo with rights to expand its ownership over time.
Turo plans to invest the capital from IAC to help accelerate growth and refine the customer experience.
As part of the deal, IAC CEO Joey Levin will join Turo’s Board of Directors.
The Fenwick transaction team was led by corporate partners Sam Angus (Picture) and Ran Ben-Tzur, and associates Nam Kim and Shweta Kumar.
Law Firms: Fenwick & West LLP;
Clients: Turo, Inc.;