# Carma

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/carma

- Industry: Retail
- Headquarters: Regina, Canada
- Website: www.drivecarma.ca
- Total disclosed funding: $10M
- Latest round: Series A (Dec 14, 2010)
- Investors on record: 1

## About

Carma specializes in cloud-based solutions aimed at enhancing business productivity and operational efficiency across various industries, providing users with scalable applications tailored to their specific needs.Founded in 2015 in Regina, Canada, Carma provides cloud solutions that cater to diverse industries. The company successfully raised USD 5.60 mn in Series A funding in March 2021, co-led by SOSV. Founders Larry Williams and Mazen Nahawi, along with CEO Carma Vandyk and Tom Vesey, have collectively facilitated 4 deals, demonstrating ongoing growth in the market.Carma primarily offers a suite of cloud-based solutions designed to enhance business productivity and operational efficiency. Their core product line includes scalable web applications that can be customized to meet the specific needs of various industries, such as healthcare, finance, and retail. These applications enable users to deploy, manage, and scale applications in a secure environment, addressing common challenges related to data management and accessibility. Carma targets a diverse client base, including large enterprises and small to medium-sized businesses across North America, Europe, and Asia-Pacific, catering to a wide range of users from IT professionals to business leaders.Carma generates revenue through a subscription-based model, where clients pay for access to its suite of cloud services. This model is designed to provide predictable revenue streams while allowing customers to scale their usage based on their operational needs. Revenue transactions typically occur on a monthly or annual basis, depending on the selected service tier. The pricing structure includes various plans tailored to different user requirements, encompassing individual products such as application hosting and database management solutions, promoting efficiency and reducing overhead costs for clients.In March 2021, Carma raised USD 30 mn in venture debt funding to enhance its vehicle inventory and expand its car-buying service. The company plans to introduce new products designed to streamline operations within the next year. Additionally, Carma aims to enter new markets in North America and Europe by 2022, leveraging the recent funding to support these expansions and product developments.

## Funding rounds

- Series A, Dec 14, 2010, $5.6M — SOSV
- Seed, Apr 1, 2009, $2.5M — SOSV
- Seed, Mar 1, 2007, $2M — SOSV

## Investors

- SOSV (https://capitalatlas.ai/funds/sosv) — Seed, Series A