Car sharing service Zipcar has raised a $21 million round of funding led by Meritech Capital Partners, the company announced this morning.
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It's a surprising move, as the company, which has raised $59 million to date, filed for a $75 million IPO back in June.
Zipcar has acquired several similar services in foreign markets recently, and says it will use the new raise to "strengthen its balance sheet and continue its geographic expansion."
As part of the deal, AOL founder Steve Case will join Zipcar's board.
