HyreCar Launches Mobile Application Featuring Mitek Identity Verification Technology

HyreCar Mobile App for iOS and Android Now Available to Streamline
New Driver Onboarding

LOS ANGELES–(BUSINESS WIRE)–HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace for ridesharing,
has launched the HyreCar mobile application for both Apple iOS and
Android devices to expedite the new driver onboarding and verification
process.

The application was developed with Mitek (NASDAQ: MITK), a leader in
identity verification technology, to allow interested drivers to easily
verify their identity when digitally applying to rent a car through
HyreCar’s new seamless mobile interface. Proven to reduce fraud, Mitek’s
technology is designed to expedite the booking and verification process
by 30 percent and lower ID document forgery in the verification process
by up to 20 percent. These technology enhancements have contributed to
HyreCar scaling annual rental days from under 400,000 for the fiscal
year ending December 31, 2018 to an annualized run rate of over 550,000
rental days through the first two months of 2019.

“We are excited to launch the HyreCar mobile app for our drivers,” said
Joe Furnari, CEO of HyreCar. “Reducing friction in our customer
conversion channels is expected to accelerate revenue to the top and
bottom lines. At the same time, risk reduction through the Mitek
integration is expected to enable scale and reduce overhead costs.
Overall, our approach to leveraging technology solutions in this new
ecosystem of Mobility as a Service has made us an industry leader,
moving thoughtfully and deliberately toward our future vision of
personal transportation.”

“Empowering a good user experience while verifying new driver identities
is the core focus of our partnership with HyreCar,” said Max Carnecchia,
CEO of Mitek. “We’re committed to providing both trust and convenience
with each digital transaction and are thrilled to be supporting HyreCar
in their mission to safely, securely and seamlessly onboard more
rideshare drivers.”

About Mitek

Mitek (NASDAQ: MITK) is a global leader in mobile capture and digital
identity verification solutions built on the latest advancements in AI
and machine learning. Mitek’s identity verification solutions enable an
enterprise to verify a user’s identity during a digital transaction,
which assists financial institutions, payments companies and other
businesses operating in highly regulated markets in mitigating financial
risk and meeting regulatory requirements while increasing revenue from
digital channels. Mitek also reduces the friction in the users’
experience with advanced data prefill and automation of the onboarding
process. Mitek’s innovative solutions are embedded into the apps of more
than 6,100 organizations and used by more than 80 million consumers for
mobile check deposit, new account opening and more. Learn more at www.miteksystems.com.

About HyreCar

HyreCar Inc. operates in the carsharing marketplace for ridesharing
through its proprietary technology platform. The Company is establishing
a leading presence in Mobility as a Service (MaaS) through vehicle
owners and institutions, such as dealers and OEMs, who have been
disrupted by automotive asset sharing. HyreCar currently operates in all
50 states and Washington, D.C. providing a unique revenue opportunity
for both owners and drivers. By providing a safe, secure, and reliable
marketplace, HyreCar is transforming the industry – one driver, one
vehicle, one road at a time. For more information, please visit www.hyrecar.com.

Forward-Looking Statements

Statements in this release concerning HyreCar’s future expectations and
plans, including without limitation, HyreCar’s expectations regarding
its future results, performance, partnerships, prospects and
opportunities, may constitute forward-looking statements for the
purposes of the safe harbor provisions under The Private Securities
Litigation Reform Act of 1995 and other federal securities laws and are
subject to substantial risks, uncertainties and assumptions. You should
not place reliance on these forward-looking statements, which include
words such as “believe,” “intend,” “may,” “potential” or similar terms,
variations of such terms or the negative of those terms. Although the
Company believes that the expectations reflected in the forward-looking
statements are reasonable, the Company cannot guarantee such outcomes.
Actual results may differ materially from those indicated by these
forward-looking statements as a result of various important factors, as
well as those risks more fully discussed in the section entitled “Risk
Factors” in HyreCar’s prospectus, dated June 26, 2018, that was filed
with the U.S. Securities and Exchange Commission under File No.
333-225157, as well as discussions of potential risks, uncertainties,
and other important factors in HyreCar’s subsequent filings with the
U.S. Securities and Exchange Commission. All such statements speak only
as of the date made, and the Company undertakes no obligation to update
or revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.

Contacts

Media Relations:
Ronjini Joshua
The Silver Telegram
HyreCar@thesilvertelegram.com

Investor Relations:
Ted Haberfield
President, MZ Group
– MZ North America
HYRE@mzgroup.us

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