MojoMotors.com, a used car deals platform, has closed a $3m funding.
Backers include Atlas Venture and existing investors RPM Ventures, NextView Ventures, and others.
The company plans to use the funds to expand into more major markets outside its beta market of Boston during 2012, scale marketing efforts, and continue to develop the Mojo platform.
Launched in 2011 by eBay Motors and Ford Motor Company veteran Paul Nadjarian, CEO, MojoMotors.com helps car shoppers find discounts on used cars and trucks at local dealerships. After signing up for a free account, Members also receive personalized alerts when dealers drop prices.
In conjunction with the funding, Ryan Moore of Atlas Ventures will join the company’s board of directors.