Carketa, a leading provider of end-to-end data and intelligence software for the automotive industry, has secured $4.4 million early growth round.
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This round was led by new investor Capital Eleven, with participation from both new and existing investors, including Crosslink Capital, Origin Ventures, Allegis Capital, and Peak Ventures.
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Tim Hansen, CEO of Carketa, commented on the round: “This round of funding validates the leadership role that Carketa is taking in the automotive industry with our suite of profit intelligence software tools, paired with proprietary real-time data and insights. We are grateful for the trust and support of this wonderful investor group and are excited to continue accelerating Carketa’s reach and impact in the industry. This was the right amount of capital from the right group of investors to help our company push our platform, data, and insights forward.”
“Capital Eleven is excited to lead this funding round for Carketa,” said Travis Hawkes, Managing Partner at Capital Eleven. “We believe in Carketa’s vision and are confident that their innovative solutions will continue to disrupt the automotive industry and drive significant value for dealers and other industry players alike. We are very excited to back this truly innovative team at Carketa.”
With the recent release of an expanded product suite, the company is entering an exciting phase with this strategic investment. The AI-powered Buy Suite from Carketa assists dealers in determining what inventory to purchase, where to find it, and how much to pay for it.
When combined with Carketa’s already-available inventory-focused Manage and Service suites, the Buy Suite is defining the industry standard for a platform that leverages data and insights to optimise dealership earnings. Over 1,000 dealerships have used Carketa’s Buy Suite tools and data services since its release from beta in May.
About Carketa
Founded by Jason Berry and Brady Thurgood in 2019, Carketa uniquely enables vehicle dealerships around the world to reach new heights. Its customers turn their inventory quicker, increase gross, and compete above the new wave online dealers. The future of inventory management and automotive retail.
