TrueCar Secures $35.5M

TrueCar, a Santa Monica, CA-based operator of a new car pricing research site, has secured $35.5m in financing.
This cash, which includes a $21.5m credit facility from Silicon Valley Bank and other commitments from USAA, Capricorn Investment Group, and GRP Partners, will enable the company to grow organically and through acquisition.
TrueCar, which was founded by Scott Painter, the founder of CarsDirect and Zag, provides up to date and comprehensive new car price reports, based on real local sales transactions.

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