TrueCar.com, a Santa Monica, Calif.-based negotiation-free car-buying platform, raised $30m in funding.
Paul Allen’s Vulcan Capital provided the capital. In conjunction with the funding, Abhishek Agrawal, who heads all growth equity investments for Vulcan Capital will be joining TrueCar.com’s Board of Directors.
The company intends to use the funds for market expansion, product development and further build the TrueCar.com brand.
Led by Scott Painter, Founder and CEO, TrueCar.com is the negotiation-free car buying platform. Car buyers access to insight into what others actually paid, upfront pricing info, a guaranteed savings certificate and a connection to certified dealers to complete the car purchase.
Its national network of nearly 7,000 certified dealers provides negotiation-free pricing for some large membership and service organizations, including AARP, American Express, AAA, USAA and Consumer Reports.
The company has offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.
07/09/2011: TrueCar Secures up to $200M in Debt and Equity Financing
20/07/2010: TrueCar Secures $35.5M