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PureCars raises USD5m from Gemini Investors and Stage 1 Ventures

Wed, 09/01/2013 - 14:20

PureCars has raised USD5m of new equity capital from Gemini Investors and Stage 1 Ventures.

This financing will allow PureCars to enhance and expand its services and product offerings to its rapidly growing family of automotive dealerships.

PureCars' mission has been to work alongside automotive dealerships, from single rooftop stores to top nationwide dealer groups, helping dealerships optimise returns on digital marketing and increase sales.

PureCars was co-founded by Jeremy Anspach, its president and chief executive.

"I'm extremely proud of the PureCars team, what we've accomplished, and what is to come,” he says. “I've always known our company's success starts with our people, and today we're incredibly proud to welcome Gemini Investors and Stage 1 Ventures, two distinguished partners that will further help us build on our solid foundation. We are confident that their investment and expertise will assist in our mission to improve and expand our product offerings, and exponentially grow our business, benefiting both our family of dealers and their customers alike."

"We are very excited to partner with PureCars on this investment. PureCars has been successful in growing rapidly by providing value-added products to its dealership community and we are looking forward to supporting the PureCars team as they continue on their growth path," says David Millet, partner at Gemini Investors.

"We are extremely impressed with the PureCars team and the leading products that they produce in the dealer automation industry. The PureCars team has built a rapidly growing, profitable business with no outside financing. We believe that our capital will further accelerate the PureCars' growth engine," says David Baum, managing partner at Stage 1 Ventures.

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