Carhoots, a San Francisco, CA-based community and marketplace startup that connects car users with content, reviews and recommendations, closed a $240k seed funding.
Founded in 2012 by Lee Malcher and backed by private angel investors, the company is using the funds for product development and rolling out of new features.
Carhoots, which graduated from UK based Oxygen Accelerator program and recently arrived in San Francisco, aims to empower car buyers to make more informed decisions by providing them with the resources they need in a social platform.
It recently rolled out user profiles and improved search result features including video content to add to the expert reviews and social recommendations. It will soon be releasing a marketplace where buyers can search through new and used cars for sale, dealership reviews, a gamification and badge system where users are rewarded for helping the car buying community and a mobile app.
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