TrueCar Links With Capital One On Loan Pre-Qualification
socalTECH
SEPTEMBER 24, 2021
Santa Monica-based TrueCar, which operates a digital marketplace for automobiles, says it has linked with Capital One to offer up pre-qualification for its buyers.
TrueCar Scoops Up $30M From Vulcan Capital
socalTECH
DECEMBER 12, 2013
Santa Monica-based online car buying technology provider TrueCar said this morning that it has raised $30M in a new round of funding, from Vulcan Capital, the venture funding arm of Microsoft co-founder Paul Allen. TrueCar said the new funds will go towards market expansion, product development, and to build its brand.
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TrueCar Prices IPO
socalTECH
MAY 16, 2014
Santa Monica-based TrueCar has priced its IPO, saying last night that it will sell 7.8 The pricing was below the company''s earlier, estimated IPO range of $12.00 The company raised around $71.1M TrueCar is trading on the NASDAQ Global Select Market as TRUE. truecar true buying service scott painter' READ MORE>>.
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TrueCar Raises $200M, Acquires Firm
socalTECH
SEPTEMBER 7, 2011
Santa Monica-based TrueCar , the automotive pricing website headed by Scott Painter, said this morning that it has raised $200M in new debt and equity financing, plus acquired a company. TrueCar said the financng round included USAA, Capricorn Investment Group and GRP Partners, all existing investors in the firm. READ MORE>>.
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TrueCar Names HR Chief, Plans Recruiting Boost
socalTECH
JULY 15, 2015
Santa Monica-based TrueCar has named a new Chief Human Resources Officer, in an effort to bolster recruiting at the firm. TrueCar said it has named Don Robertson as Executive Vice President, People and Chief Human Resource Officer, as part of a stepped up talent search for the company. He also has served at GE Capital Corp.,
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Reflections on 2020: Kelly Perdew, Moonshots Capital
socalTECH
DECEMBER 22, 2020
Today, we have Kelly Perdew , Co-founder and General Partner of Moonshots Capital. What was the biggest news for you/your company this year? This year ushered in the successful launch our second fund at Moonshots Capital, further validating our thesis that investing in extraordinary leadership produces exceptional companies.
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124 TrueCar Launches New Pricing Tool
socalTECH
SEPTEMBER 3, 2010
TrueCar said that it has launched a Best Local Price tool, which will allow car shoppers to search for the best local deals on a vehicle. According to TrueCar, the firm said that the search tool will provide a "Lowest Certified Price" for a car, a no-haggle price which will be honored by participating dealers in its program.
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154 Reflections on 2019: Kelly Perdew, Moonshots Capital
socalTECH
DECEMBER 23, 2019
Today, we share the thoughts of Kelly Perdew , the founder and Managing Director of Moonshots Capital (www.moonshotscapital.com). What was the biggest news for you/your company this year? We also had our first exit for Moonshots Capital Fund 1 --Threatcare. At the same time, more capital continues to be raised in LA.
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Zag Spins Out TrueCar
socalTECH
SEPTEMBER 10, 2008
Santa Monica-based Zag, the online car buying software firm headed by former CarsDirect CEO Scott Painter, has spun out a new company called TrueCar, the firm said late Wednesday. According to TrueCar, it will provide information about new car pricing, using the actual price people have paid for cars.
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133 Fair Boosts Executive Team
socalTECH
AUGUST 5, 2019
The company said it added Jay Trinidad as the company's Chief Product Officer, Pat Wilkinson as its GM of Exclusive Uber Program, and John Pierantoni as SVP of Finance and Risk. Wilkinson also had served at Lehman Brothers and Barclays as an investment banker in addition to his time in venture capital. READ MORE>>.
Reflections on 2018: Kelly Perdew, Moonshots Capital
socalTECH
DECEMBER 31, 2018
This morning's reflections are from Kelly Perdew , managing general partner of at Moonshots Capital (www.moonshotscapital.com). fact, turns out it is much, much harder than raising money for an early stage company. in 50+ companies through his angel and syndicate deals. in 50+ companies through his angel and syndicate deals.
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Los Angeles Venture Investors Get Their Mojo Back
socalTECH
APRIL 7, 2014
Now, it looks like that day has finally come, as the thaw has come to locally backed companies, with a rash of exits--many of them backed by local investors. Those exits have finally given local venture capital investors their mojo back -- with their longstanding faith in their portfolio companies finally paying off.
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Here's Who Is Funding Companies In Southern California Today
socalTECH
SEPTEMBER 14, 2016
It's often tough to figure exactly who the venture capital funds are who are funding startups in the area. Local exits: TrueCar, Gravity, Maker Studios. Are you a startup looking to find funding in Southern California? However, for members of socaltech.com, it's a click away with our real time analysis of venture funding flows.
Fair Launches New Adjustable Payments For Cars
socalTECH
SEPTEMBER 18, 2018
Fair is unlike leases, in that users can turn in a car whenever they want, with no termination penalty; the company says cars start at just under $190 a month. Fair is the latest venture of Scott Painter, the serial entrepreneur behind TrueCar. READ MORE>>.
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NXCR, Led By Scott Painter, Scores $30M In Seed Funding
socalTECH
FEBRUARY 22, 2021
According to the email from Painter, the funding is the company's first external equity financing. Painter has a long history in Southern California's technology industry, and previously founded such companies as Fair, TrueCar, SharesPost, and others.
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This Week in VC – Scott Painter, CEO of Zag & TrueCar
Both Sides of the Table
JULY 1, 2010
He calls it his “Tom Sawyer&# company. Scott’s first big foray into industry-changing companies came with CarsDirect, an IdeaLab company where he was the initial founder & CEO. Scott left the company, which eventually IPO’d and became Internet Brands. And it carries no inventory. a fbFund winner.
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Fair Raises $16M, Launches Online Car Shopping, Financing App
socalTECH
SEPTEMBER 7, 2017
According to Fair, its $16M Series Seed funding round was led by Javelin Venture Partners, and also included Charles River Ventures, Foundation Capital and Sherpa Capital. The company also says it is in the midst of a Series A-1 financing being led by BMW i Ventures. READ MORE>>.
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124 The future of car ownership: Cars-as-a-service
TechCrunch LA
JULY 10, 2019
Companies like Fair are offering new types of leases combining a traditional auto financing option with modern conveniences. Fair was founded in 2016 by an all-star team made up of automotive, retail and banking executives including Scott Painter, former founder and CEO of TrueCar. Car sales are tanking, but people still need cars.
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212 Fair Raises Nearly $1 Billion In Strategic Funding Round
socalTECH
OCTOBER 23, 2017
Los Angeles-based Fair , the automotive startup led by serial entrepreneur Scott Painter, has raised nearly $1 billion in a strategic funding, led by BMW i Ventures, along with Penske Automotive Group, Sherpa Capital, and others. The funding also included other, un-named strategic investors. READ MORE>>.
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100 GRP Partners Hits $148.6M In New Fund, GRP IV
socalTECH
OCTOBER 31, 2012
GRP Partners , the venture capital firm managed by Steven Dietz, Brian McLoughlin, Yves Sisteron, and Mark Suster, seems to be making good progress on its newest fund, GRP IV, according to a regulatory filing from the firm filed Wednesday. The firm also has had good exits at such companies as BillMeLater and HealthDataInsights.
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Fair.com Acquires Uber's Leasing Portfolio
socalTECH
JANUARY 30, 2018
Fair-- backed by more than $1 billion in funding from such investors as BMW i Ventures, Penske Automotive Group, Sherpa Capital, and others, operates a service which helps people gain access to a car, which they pay for using monthly payments, with no long term commitments. for drivers seeking vehicle access for 30 days or longer.
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How Fair, Scott Painter's New Startup, Is Creating A New Model For Car Ownership
socalTECH
SEPTEMBER 19, 2017
Painter, who was previously CEO and founder of TrueCar, and has a long history in the automotive purchasing and financing industry, sat down with us to discuss Fair, what he learned at TrueCar, and how he hopes Fair will transform the auto industry. What lessons did you learn from TrueCar, which are you are applying here?
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124 Want to Start a Technology Company in LA?
Both Sides of the Table
MARCH 17, 2010
I was recently interviewed for an article that appeared in Fast Company titled, “ Why you should start a business in LA.&# If you’re interested in the topic it’s worth a read, but I thought I’d elaborate on the topic since it comes up all the time. But we have a great city for building technology companies.
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290 SharesPost Hooks Up With NASDAQ On Private Shares Market
socalTECH
MARCH 6, 2013
SharesPost , the private company marketplace headed by Greg Brogger, which had been incubated and started in Santa Monica via Brighthouse, the startup incubator run by Brogger and Scott Painter, is in a joint venture with NASDA OMX , the two said this morning. Brogger was at CarsDirect with Scott Painter, who heads up TrueCar.
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How to Kick Start Your Community’s Startup Scene
Both Sides of the Table
JUNE 8, 2014
Cincinnati, like many startup communities in the US over the past 5 years, has revitalized important regions in its urban core, created accelerators, built co-working facilities, pooled together angel capital, attracted VCs, involved educational institutions and solicited the help of important corporations in a more cohesive ecosystem.
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Why Has LA Suddenly Gotten So Much Attention from VCs and Entrepreneurs?
Both Sides of the Table
OCTOBER 8, 2014
” in 2014 the data seems pretty conclusive because LA has now become the fastest growing tech startup region by numbers of companies being started and those of us here have noticed this pace accelerating. Given how efficient markets are when a large market like LA starts to blossom it attracts capital pretty quickly.
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Fair Finds $385M For Auto Service
socalTECH
DECEMBER 20, 2018
The company, led by longtime automotive startup veteran Scott Painter, operates a service which lets users get access to a pre-owned car using a mobile app, and by paying a monthly fee, with no long term commitment. According to the company, so far, it has provided cars for more than 20,000 users. READ MORE>>.
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113 Tech Coast Angels: We Have Higher Returns Than Angel Averages
socalTECH
AUGUST 30, 2016
The TCA said, if a TCA member had participated in all of its 305 investments, with a $25,000 investment in each of the companies in those investments (a total investment of $7.7M), that member would have received $12M in cash liquidity, have taken $2M in tax deductible write-downs, and still have $4.1M in active investments. READ MORE>>.
Entertainment Deals Take Center Stage In LA’s Burgeoning VC Scene
TechCrunch LA
APRIL 14, 2014
A string of big acquisitions, public offerings, and a pipeline of growing young startup companies has venture investors saying “I love L.A.”
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Upfront Ventures Raised New $280 Million Fund
Both Sides of the Table
DECEMBER 16, 2014
We’ve been dying to tell you all for a while that we had raised a new venture capital fund and of course given SEC filing requirements the story was somewhat already scooped by the always-in-the-know Dan Primack a few weeks ago. Will our strategy change now that we have 40% more capital? . Insurance Companies.
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396 LAVA Honors Richard Riordan, Local Technology Firms
socalTECH
FEBRUARY 10, 2011
The Los Angeles Venture Association (LAVA) held its annual awards event last night, honoring former Los Angeles Mayor Richard Riordan, as well as local, venture backed companies in a banquet last night at the Luxe hotel in Los Angeles. Other finalists were Clicker.com , Truecar , and Zumbox.
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SharesPost Raising $3.3M
socalTECH
FEBRUARY 8, 2011
SharesPost , the online marketplace for private company stock founded by Greg Brogger, has raised $3.3M In a regulatory filing Wednesday, the company--which had been spawned out of the spawned out of Scott Painter's BrighHouse incubator--said it had raised $3.3M No details on that funding have been announced by the company.
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HealthDataInsights Sells for $400 Million. Big Win for GRP Partners.
Both Sides of the Table
NOVEMBER 8, 2011
It’s even more exciting when you can report an exit of a company that is a major win. HealthDataInsights (HDI) is a company that helps to recover money for the government or private insurers who have been incorrectly billed or fraudulently charged. 9 companies out of 33 drove our largest returns. Solving bigger problems.
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How VCs Think About Adding New Partners
Both Sides of the Table
NOVEMBER 13, 2014
Helped merge company with Seedling – on track to do $20 million combined revenue in 2015 – will now become Chairman). billion IPO), HealthDataInsights (Las Vegas, $400 million) as well as LA (Maker Studios $1 billion, TrueCar $1.3 Startup CEO experience (Founded P.S. XO along with my good friend Soleil Moon Frye.
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408 Announcing The Socaltech 50: Southern California's Up-and-Comers
socalTECH
NOVEMBER 19, 2013
Getting to this list was not easy: we received over 700 nominations for people to be considered on the list, and it took a lot of work by our selection committee to whittle down the list to the finalists.
Bolstering the Partner Ranks at GRP
Both Sides of the Table
MARCH 12, 2013
He shared tons of information about how how they were using marketing to quantitatively make marketing decisions at HauteLook and acquire customers for prices that were far cheaper than similar companies. He was also the first one to challenge my conventional wisdom that it made no sense for tech companies to advertise on television.
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360 “Stay Lean as Long as You Can,” and Other VC Wisdom from Mark Suster
Xconomy
JUNE 16, 2016
In San Diego, the complaints often focus on the relative scarcity of venture capital and hometown VC firms. It is the key advantage that enables startups to overcome incumbent companies, Suster said. To Suster, founding a tech startup is a lot like mounting an expedition. Startup Week San Diego Crowd at Mark Suster Talk.
Interview with Tara Weingarten, VroomGirls
socalTECH
NOVEMBER 7, 2011
But, I think it's because I have known all of these car companies for seventeen years. We basically got venture capital money, without having to give away any of the company. My partner and I might have to put another $5,000 or $10,000 into the company to get us through, but I believe this will carry us through.
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What Mattered In 2010: Mark Suster, GRP Partners
socalTECH
DECEMBER 22, 2010
Yesterday, we heard from Scott Painter of TrueCar. In your opinion, what events, companies, or people made the biggest impact on the technology world in 2010? The one other company I could say in the mobile space, which has driven lots of innovation despite the hype, is Foursquare. The IPO of EnvestNet.
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170 Can You Really Build a Great Tech Firm Outside Silicon Valley?
Both Sides of the Table
FEBRUARY 15, 2011
Last year I was on Sand Hill Road in Silicon Valley meeting with one of the most prominent venture capital firms in the country. If you are talented, of course, you can get funded in any region with enough venture capital and obviously in markets outside of the Valley it is easier to get noticed and get access.
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313 The Magic of the Irish – Dublin’s Resurgence on the Global Tech Scene
Both Sides of the Table
FEBRUARY 7, 2014
Between 1995-2002 I visited often – especially since I founded my first company there. As the world went through its economic shock fueled by the housing boom & cheap capital, Ireland suffered its effects a bit worse. The Origins of Web Summit / f.ounders. In Ireland right now – that person is Paddy Cosgrave.
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Interview with Jeff Zwelling, Convertro
socalTECH
AUGUST 4, 2011
Jeff Zwelling is the co-founder of Convertro (www.convertro.com), a Los Angeles company focused on helping companies track how their marketing efforts are leading to sales conversions. Locally, those are companies like LegalZoom, GameFly, TrueCar, and ShoeDazzle. There are lots of e-commerce companies.
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Interview with Mark Suster, GRP Partners
socalTECH
JULY 13, 2009
The company was founded by the head of the North America investments for Carrefour, the second largest retailer in the world, the head of the retail banking practice at DLJ, the investment bank. The new fund is focused entirely on technology companies. Those companies are doing phenomenally well, and in a normal market was IPO.
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157 How to Develop Your Fund Raising Strategy
Both Sides of the Table
JANUARY 16, 2012
There is all sorts of advice on the Internet about how to raise capital. I’ve raised money as a “hot company” and I’ve raised capital when no one would return my phone calls. I raised money as an entrepreneur, like you, in 1999, 2000, 2001, 2003 and 2005 for two different companies. Why buy now?
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