Tech Company Financing Transactions
Drive Motors Funding Round
Drive Motors, based in San Francisco, secured $5 million from Ally Financial and private investors.
Transaction Overview
Company Name
Announced On
6/15/2019
Transaction Type
Venture Equity
Amount
$5,000,000
Round
Undisclosed
Investors
private investors (Peter Thiel)
Proceeds Purpose
The additional capital is being used to scale Modal's commerce platform to meet the needs of its new global customers, and to develop new commerce technologies that dramatically streamline the auto purchase transaction.
Company Information
Company Status
Private & Independent
Industry
ECommerce
Mailing Address
Undisclosed
San Francisco, CA 94107
USA
San Francisco, CA 94107
USA
Phone
Website
Email Address
Overview
Drive Motors makes ecommerce solutions for car dealerships and buyers. For dealerships, Drive Motors offers an online checkout experience as good as Tesla or Amazon, that generates profitable sales and upsells 24 hours a day.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Aaron Krane
VP - Bus. Development
Rune Hauge
VP - Customer Service
Matthew Weinberg
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We do our best to report on funding rounds that are announced publicly. VC investment data records reported here are sourced from news reports and company announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
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