TrueCar, Inc., a Santa Monica, CA-based publisher of real-time new and used vehicle transaction data, has secured up to $200m in debt and equity financing.
Participants in the financing include:
– existing investors USAA, Capricorn Investment Group and GRP Partners,
– new strategic investors GR Match, LLC, McCombs Family Partners and DealerTrack Holdings, Inc. (NASDAQ: TRAK), and
– new financial investors GSV Capital Corp., Passport Capital, International Investment House and Allen & Company, LLC.
Debt capital is being provided by Silicon Valley Bank.
According to a written statement, a portion of the proceeds will be used to fund the development of new revenue streams, growth and strategic acquisitions.
Founded in 2005 by CEO Scott Painter, TrueCar publishes real-time new (TrueCar.com) and used (ClearBook.com) vehicle transaction data.
The company recently acquired Automotive Lease Guide (ALG), a source for automotive residual values, from DealerTrack Data Services, a subsidiary of DealerTrack Holdings (NASDAQ: TRAK), and Carperks, a provider of automotive purchasing and leasing programs for over 1,000 U.S. businesses and their employees.
TrueCar has also offices in San Francisco and is hiring (http://www.truecar.com/hiring.html).