# CarCo Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/carco-technologies

- Industry: Internet
- Headquarters: Chicago, US
- Website: www.drivindealer.com
- Total disclosed funding: $7.5M
- Latest round: Series A (May 25, 2016)
- Investors on record: 2

## About

CarCo Technologies, Inc. specializes in creating advanced digital platforms that streamline automotive transactions, connecting dealers and consumers in an efficient online marketplace.CarCo Technologies, Inc. was founded in 2015 in Chicago, US. The company operates a digital marketplace focused on the buying and selling of used vehicles. In April 2017, the company was acquired by KAR Auction Services Inc. for USD 43 mn. The CEO is António Serrano, and the founder is Pablo Uson.CarCo Technologies operates as a leading digital marketplace specializing in the buying and selling of used vehicles. Its core offerings facilitate streamlined transactions between automotive dealers and consumers, enhancing vehicle sales through digital tools. The platform allows users to list, bid, and purchase vehicles seamlessly, targeting a diverse clientele that includes dealerships, wholesalers, and individual buyers across North America and Europe. By integrating advanced technology such as real-time analytics, CarCo addresses key issues in the automotive market, including inventory management and market pricing, evolving its services to meet user needs.CarCo Technologies generates revenue primarily through transactional fees associated with vehicle sales on its platform and subscription models for premium services offered to dealerships. Revenue comes from fees charged per transaction completed through the marketplace, as well as recurring income from subscription plans that provide enhanced features like advanced analytics and marketing tools. This B2B model allows automotive dealers to improve sales efficiency while reaching a broader audience.CarCo Technologies plans to leverage recent funding from its acquisition to enhance its platform by developing new features aimed at improving user experience and expanding service offerings. The company is targeting growth in new geographic markets in Europe, with plans to launch within the next two years. The latest funding from the Trade Sale will be utilized to support these product developments and expansion initiatives.

## Funding rounds

- Series A, May 25, 2016, $7.5M — Lightbank, Columbus Nova Technology Partners

## Investors

- Lightbank (https://capitalatlas.ai/funds/lightbank) — Series A
- Columbus Nova Technology Partners (https://capitalatlas.ai/funds/columbus-nova-technology-partners) — Series A