Peer-to-peer car-sharing company Getaround announced March 6 its official launch in Austin, Texas. This announcement closely follows the company's February launch in the greater Portland metropolitan area with a $1.7 million federal grant and expands its reach to four major cities.

Additionally, Getaround was recently recognized by business research and consulting firm Frost & Sullivan as a leader in the peer-to-peer car sharing market for its business model, innovation in technology and leadership in the industry.

"Our goal when we founded Getaround was to empower people to share cars everywhere," said Getaround co-founder and CEO Sam Zaid. "Car sharing requires consumers to think differently and the viability of car sharing hinges on community. Our members like that Getaround connects them with people who share similar community values and interests. With this in mind we've carefully selected the markets in which we've entered thus far and are proud to be in Austin."

In addition to announcing its service in Austin, Jessica Scorpio, co-founder and director of marketing at Getaround, will be speaking at the city's SXSW conference. As a part of the "Launching Companies in Regulated Industries" panel, she will highlight ways to combat the variety of issues faced by technology start-ups launching in regulated industries.