- The sharing economy is booming, with giants such as Airbnb and Rent the Runway, as well as numerous small startups targeting specific markets.
- From construction equipment and RVs to party supplies and luxury jewelry, consumers can rent almost anything.
- Some of these startups are peer-to-peer, while others provide a list of rentable items.
- We looked at 14 startups in the sharing economy and their venture capital backers.
- Click here for more BI Prime stories.
Rent the Runway lets shoppers rent everything from high-end designer clothing to everyday necessities, while Airbnb allows users to share entire homes or even spare rooms.
Similar apps and websites have sprung up across the country, providing digital forwarding on less-new second-hand item leasing businesses.
Whether for cost, convenience, or storage constraints, American consumers have become accustomed to the idea of sharing via peer-to-peer platforms and directly to consumer sites.
Although some services offer users the option to purchase their rental items, many brands say they help consumers shop more sustainably by sharing things that can only be used once or twice.
All these become a bigger topic: Changes to our purchase and payment methods.
Here are 14 startups that are changing consumers' perceptions of shopping and the venture capital that supports them.
Black evening dress
Total amount raised: $ 62.6 million
Major investor: First round investors [Blue Apron, Uber, Warby Parker], Lerer Hippeau [Allbirds, Everlane, Glossier], Menlo Ventures [Betterment, Chime, Roku].
Santa Monica-based men's formal wear startup The Black Tux offers modern elements for tuxedo rentals. Although they have nearly 30 separate or Nordstrom-based showrooms, the startup offers a complete look to try on at home, including suits, shirts and shoes.
For resizing, startups said they don't need a tape measure. It has an online survey to record your height and weight, and the algorithm can predict the right figure.
Total amount raised: USD 31 million
Last round: In August, $ 10 million in Series A financing
Major investor: Global Founder Capital [Brex, Capsule, HelloFresh], Great Oaks Venture Capital [Acorn, EquipmentShare, OkCupid], Valor Equity Partners [Bird, Chime, SpaceX].
Boatsetter is a Florida-based point-to-point chartering platform. The startup provides a platform for boat owners to rent their boats and even offers optional captain services.
Founded in 2012, the website lists nearly 20,000 ships and is available in 600 locations worldwide.
Total amount raised: $ 58 million [TBD-one round undisclosed]
Major investor: Insight Partners [Shopify, HelloFresh, N26], Great Oaks Venture Capital [Acorns, Boatsetter, OkCupid], Y Combinator [Airbnb, Dropbox, Stripe].
EquipmentShare is a platform that contractors can use to list and lease construction equipment from power tools to bulldozers.
Missouri-based Y Combinator Alum [Winter 2015] was founded by two brothers in 2014 Once said that they grew up in the socialist community They are not allowed to keep their personal property.
EquipmentShare has plants in 19 U.S. states and outposts in New Zealand. In addition to its platform, EquipmentShare offers a proprietary technology called Track, which enables contractors to monitor the health and usage of their machines.
Total amount raised: $ 13 million
Last round: April 2018, USD 10 million in Series A financing
Major investor: Funders' Clubs [Coinbase, Instacart, Scentbird], Greylock Partners [Airbnb, Coinbase, GoFundMe], Y Combinator [Airbnb, Dropbox, Stripe].
Fat Llama is a peer-to-peer rental platform where you can find almost everything. Users can also buy and sell their items, including drones, tents and musical instruments. If the item is lost, stolen or damaged, Fat Llama offers lenders up to $ 30,000 in insurance.
London-based Y Combinator Alum [Spring 2017] was established in 2016 and is sold in the UK and the US.
Total amount raised: $ 16 million
Last round: $ 12 million in Series A financing in May
Major investor: Bain Capital Ventures [Acorn, Lime, Rent the Runway], Kleiner Perkins [Brex, Instacart, Rent the Runway], Spark Capital [Glossier, Postmates, Warby Parker ].
Feather is a direct-to-consumer furniture rental service that offers both membership-$ 19 a month, members can enjoy up to 75% of the furniture fee-and temporary rental. Feathers are also available for delivery and assembly.
Both members and non-members rent the furniture they rent on a monthly basis and have the option to eventually purchase the furniture at retail prices.
Feather is the alum of Y Combinator [Spring 2017], founded in 2017. It operates outside New York, with footprints in San Francisco, Los Angeles, and Orange County, California.
Total amount raised: $ 5 million
Major investor: C Ventures [Galore, Moda Operandi, Villageluxe], Carmen Busquets [Flowerbx, Tagwalk, Villageluxe], StartEngine crowdfunding.
Flont is a jewelry rental subscription platform where users can borrow luxury jewelry from brands such as Cartier, Bulgari and Tiffany & Co.
Membership starts at $ 59 per month and increases based on the borrowing limit you want-the most expensive option is $ 379 per month, and you can borrow $ 8,000 worth of jewelry at one time without a return date.
Flont was founded in 2016, is headquartered in New York and has a showroom for members to visit.
Total amount raised: $ 16.7 million
Last round: $ 14 million in Series A funding in January 2018
Major investor: Mutual funds [except meat, impossible food, Lyft], founders collective [BuzzFeed, SeatGeek, The Black Tux], homemade beer [Chime, Finix, and The Skimm]
Joymode was originally a member-based online platform that can rent you almost everything from food dehydrators to children's toys and popcorn machines.
but now It transformed its model from an online market into a physical rental service. This means it will close its California warehouse. To get rid of inventory, the startup is selling its products at a discount online.
Joymode plans to open stores in other stores, such as Walmart, where customers can rent items in person.
Total amount raised: $ 2.1 million
Major investor: Click Ventures [Spotify, DocuSign, Palantir], Mike Krieger [Instagram co-founder], PLG Ventures [Finnish, Flowspace, Measurabl]
Kitsplit is a peer-to-peer rental market for media companies and artists, offering cameras, lenses, lighting and audio equipment. It launched in New York and is now available in about 100 cities in the United States.
It is used by large media companies such as Vox and National Geographic, as well as smaller production teams and filmmakers.
Total amount raised: $ 75 million
Last round: $ 50 million in Series C funding in January 2019
Major investor: Autotech Ventures [Bus.com, Lyft, SpotHero] Greenspring Associates [Chewy, Everlane, Grubhub], Tandem Capital [Me.me, Tile, Yardzen]
Hiring a RV is nothing new, but Outdoorsy is an Austin-based startup that brings back classic family motorhomes to millennials looking for hotel alternatives.
Outdoorsy, founded in 2015, is a platform where RV owners can list their vehicles. Both owners and renters can get insurance through the platform to prevent any damage. It operates globally, including operations in the United States, Canada, Australia and Europe.
Total amount raised: $ 12.7 million
Major investor: Album VC [Divvy, Mx, Wooly], Andreessen Horowitz [Airbnb, Instacart, Lyft], Pelion Venture Partners [Deserve, Firefly, Mx]
Neighbor is a peer-to-peer storage company that connects storage devices with extra space to storage devices that require storage space.
Neighbor was founded in Utah in 2017 and provides users with a place to store boxes, cars and even boats. Neighbor offers a $ 2 million hosting guarantee and a $ 25,000 tenant guarantee to protect both sides of the market.
Total amount raised: $ 31.6 million
Major investor: Justin Mateen [Co-founder of Tinder], Launch Capital [Spotify, Snapchat, Qeepsake], Maniv Mobility [Bolt Bike, Ridecell and Turo]
Revel is a moped sharing platform that enables users to find, unlock and ride electric scooters. Currently available in New York, Austin, Miami, Oakland and the District of Columbia. Its CEO Has said he hopes to enter 10 cities by mid-2020.
The Revel scooter is equipped with two helmets that can reach speeds of up to 30 miles per hour and cost $ 0.25 per minute. To ride a bike, you must have a driving license over the age of 21 and pass a safe driving record check.
Revel started the pilot in Brooklyn in 2018 and then rolled it out in 2019.
Total amount raised:1,000,000
Last round: One Million Dollars Before Seed Round
Major investor: Undisclosed
Swimply is a peer-to-peer shared pool startup that enables homeowners to cash out in their pools. The platform launched last summer and is available in 36 states, Canada and Australia.
Based on size, amenities, timing and needs, the average price is about $ 45 per hour. Work closely with your local pool service company to ensure that the listed pools are kept clean.
Total amount raised: $ 437 million
Last round: July 2019, USD 250 million in Series E financing
Major investor: August Capital [Bill.com, HipCamp, Sun Basket], GV [Lime, Nest, Uber], Kleiner Perkins [Brex, Instacart, Rent the Runway]
Turo is a peer-to-peer car-sharing unicorn, worth more than $ 1 billion, that connects car owners with drivers. Turo is available in the United States, Canada, the United Kingdom, and Germany.
The platform has high-end sports cars, trucks for mobility, and larger options for driving. Turo's goal is to become an alternative to car rental companies. Turo also partnered with Nissan to provide potential buyers with a test drive opportunity, in which some customers were offered cash bonuses for the cost of purchasing vehicles.
Total amount raised: $ 1.5 million
Last round: $ 1.5 million seed in November 2019
Major investor: Cyan Banister [Confirm, ClassPass, Postmates], Ludlow Ventures [Honey, Scentbird, Wag], Secocha Ventures [Brigit, Eaze, ePayLater]
Currently, Wardrobe is another peer-to-peer closet sharing application designed specifically for New Yorkers. It runs out in the center of the city-the storefront of the dry cleaning chain Next Cleaners-but users can also request that items be delivered to them.
Wardrobe offers vintage, luxury and designer clothing on its app. The company was founded in 2018 and has more than 40 hubs for users to pick up the rental items they need.