October 13, 2010
CarWoo! Closes Series A Funding
CarWoo!, a new service which launched today and will transform the way consumers buy cars, also just announced the closure of its Series A financing. Total funding received to date exceeds $6M.
The round was led by Interwest Partners with participation by Comcast Interactive Capital, Blumberg Capital, Accelerator Ventures, Raymond Tonsing and Dillon McDonald. Previously the company had obtained seed financing upon completion of the Y Combinator program in late 2009.
The seed financing was led by Comcast Interactive Capital with participation from Blumberg Capital, Accelerator Ventures and a number of angels and prominent individuals, including: Paul Buchheit - Early Google employee, created Gmail, founded Friendfeed; Joshua Schachter - Founder of Del.icio.us; Aydin Senkut - Felicis Ventures; Founders Fund Angel - Dave McClure.
While other internet services and properties have served to make large markets such as travel more efficient, the very large automotive industry has been a laggard in this area. CarWoo! was created to bring internet efficiencies to the car buying and selling process. I wrote about the site launch earlier this morning and you can find out more at www.carwoo.com and on Twitter @carwoo.
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