Published via G: 2013-12-12 21:18:43
TrueCar plans to announce on Thursday that it has raised $30 million from Vulcan Capital, the firm that manages the fortune of the billionaire Paul G. Allen. The financing will add to the more than $200 million that the company has raised since its founding in 2005.
It followed efforts by Mr. Painter to look for new financing more than three months ago. After sitting down with about five or six potential investors, Mr. Painter eventually decided upon Vulcan as its latest backer, joining the likes of Anthem Venture Partners, Capricorn, Allen & Company and USAA.
My Two Cents
One of LA's top entrepreneurs does it again -- Scott Painter raises $30 mm from Vulcan Ventures / Paul Allen. Well done True Car and Scott Painter. Side note - great to see Vulcan Ventures start investing again. Slightly sad to see that they seem to only be looking at really late stage / growth co's.
