Welcome!

@CloudExpo Authors: Yeshim Deniz, Elizabeth White, Pat Romanski, Liz McMillan, Zakia Bouachraoui

News Feed Item

PureCars Announces $5 Million Equity Capital Raise

CHARLESTON, S.C., Jan. 8, 2013 /PRNewswire/ -- PureCars is pleased to announce it has raised  $5 million 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.

(Logo: http://photos.prnewswire.com/prnh/20130108/CL39126LOGO )

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

Since its inception in 2007, PureCars has experienced consistent success and acceptance as one of the fastest growing automotive technology companies.  Built from the ground up and focusing on vehicle research, PureCars' dedicated national sales team supports dealers of all sizes with fully automated and cost effective solutions that benefit both dealers and their customers.

PureCars was co-founded by Jeremy Anspach, its President and CEO.  "I'm extremely proud of the PureCars team, what we've accomplished, and what is to come.  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," added 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," added David Baum, Managing Partner at Stage 1 Ventures. 

About The PureCars Value Shopping Method, And The Digital Products That Support This Approach

PureCars ignited the concept of "Value Shopping," helping consumers clearly understand the value offered by the vehicles they're considering, while assisting dealers in effectively promoting the value benefits of their inventory.  PureCars Value Reports, found on the websites of the most progressive automotive dealerships in North America, provide customers a complete value-focused overview on any pre-owned vehicle; from local price competitiveness to in-demand optional equipment, vehicle reliability through certification and reconditioning services and dealer reputations from customer reviews.  The PureCars SmartComments tool further promotes these value benefits by pushing powerful custom vehicle comments to all inventory listing sites.  Completing the Value Shopping loop, PureCars Trade-In Reports take just 30 seconds to complete.  PureCars asks online shoppers a few simple questions about their trade, and they instantly receive a PureCars Trade-In Report with an estimated value on their vehicle, and the dealership receives a quality trade-in lead.  At PureCars we believe 'Value. It's More Than Just Price,' and our fully automated, cost effective digital products prove this daily at thousands of leading dealerships nationwide.

About Gemini Investors

Gemini Investors is a Wellesley, MA-based private equity firm which has made over 100 investments since 1993.  Gemini makes both growth capital and buyout/recapitalization investments in established companies with strong management teams and compelling growth prospects. To learn more about Gemini Investors see www.gemini-investors.com.

About Stage 1 Ventures

Stage 1 Ventures is a venture capital firm that is seeking to build partnerships with great entrepreneurs that are flexible and who want to build meaningful companies in Mobile, Software as a Service (SaaS), Security, Internet Infrastructure, and Pay-For-Performance Marketing and Advertising.

To learn more about PureCars' products visit www.PureCars.com/demo or call us at (877) 860-7873.

SOURCE PureCars

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

CloudEXPO Stories
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
All zSystem customers have a significant new business opportunity to extend their reach to new customers and markets with new applications and services, and to improve the experience of existing customers. This can be achieved by exposing existing z assets (which have been developed over time) as APIs for accessing Systems of Record, while leveraging mobile and cloud capabilities with new Systems of Engagement applications. In this session, we will explore business drivers with new Node.js apps for delivering enhanced customer experience (with mobile and cloud adoption), how to accelerate development and management of SoE app APIs with API management.
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully been able to harness the excess capacity of privately owned vehicles and turned into a meaningful business. This concept can be step-functioned to harnessing the spare compute capacity of smartphones that can be orchestrated by MEC to provide cloud service at the edge.
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addressed the challenges of scaling document repositories to this level; architectural approaches for coordinating data; search and storage technologies, Solr, and Amazon storage and database technologies; the breadth of use cases that modern content systems need to support; how to support user applications that require subsecond response times.
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage of data and analytics in the cloud, Architecture, integration, governance and security scenarios and Key challenges and success factors of moving data and analytics to the cloud