HyreCar Announces Business Updates
A.J. Lee Appointed SVP of Growth and
Lee joins the Company from Airspace, a transportation and logistics management platform, where he was Senior Vice President of Growth. Prior, he served in key senior roles in strategy, marketing, and growth at
These appointments replace Henry Park’s role as COO, who resigned from
“A.J.’s experience will allow him to guide
As we enter 2022, HyreCar’s executive team is focused on providing the most trusted and secure platform for vehicle sharing to both our rideshare partners and their drivers. Demand for vehicles remained strong going into the holidays with commercial fleet utilization running above 85%. Noteworthy accomplishments of 2021 include:
- Launched enhanced dynamic pricing to scale revenue with driver risk profiles
- Became an official vehicle solution provider for drivers using the Uber platform
Increased platform capacity to enable
HyreCarto continuously scale cars on marketplace
- Successfully transitioned our claims management platform to Sedgwick as a best-in-class solution to enable claims servicing at scale
- Implemented initiatives reducing insurance and claims expenses
- Right-sized the company’s operating cost structure
“HyreCar also assisted strategic partners to obtain increased lending capacity throughout 2021 which helped add dedicated cars to the platform,” continued Furnari. “This is noteworthy given the prolonged vehicle sourcing challenges that have hindered the acquisition market during the past year due to supply chain issues and used car availability and pricing. There are early signs that the car supply shortages are improving, and our commercial fleet partners, including AmeriDrive, will be well-positioned to acquire vehicles in 2022.
“We continue to engage with lending partners to establish and expand credit lines for core commercial fleet owners, which is a key pillar in achieving dedicated inventory in the short and medium terms. While there are cars available for purchase, our recommended buying criteria for owners remains disciplined to ensure that acquired vehicles meet specific standards that are foundational to maintaining long term sustainability on the platform. We have put the pieces in place to grow with our partners as the leading platform for rideshare and delivery entrepreneurs,” said Furnari.
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