Carketa Secures New Growth Capital in Funding Round Led by Capital Eleven to Accelerate Product Innovation and Revenue Generation Efforts
Summary
LEHI, Utah, Aug. 7, 2024 /PRNewswire/ -- Carketa, a leading provider of end-to-end data and intelligence software for the automotive industry, is pleased to announce the successful close of a $4.4M early growth round. 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.Founded by Jason Berry and Brady Thurgood, Carketa helps dealerships buy, manage, service, and sell inventory faster and for more profit while enabling finance, insurance, lending, warranty, and other related companies to better target and interact with dealers who fit their business models.This strategic investment comes at an exciting time for the company, with the recent launch of an expanded product suite. We are grateful for the trust and support of this wonderful investor group and are excited to continue accelerating Carketas reach and impact in the industry. As an industry-first platform, Carketa delivers unmatched front-end and back-end insights paired with powerful, easy-to-use software solutions for every stage of a vehicles lifecycle. In addition to dealers, Carketa works with OEMs, lenders, warranty administrators, and insurance providers to unlock new opportunities, drive sales, reduce risk, and increase shareholder value.