Carketa, a Lehi, Utah-based provider of end-to-end data and intelligence software for the automotive industry, has secured a $4.4 million funding round.
Investors
The round was led by new investor Capital Eleven, with participation from new and existing investors, including Crosslink Capital, Origin Ventures, Allegis Capital, and Peak Ventures.
Capital Eleven is an investment firm specializing in private equity, early-stage venture capital, and real estate development. The firm invests in people and helps create a shared vision of excellence.
Carketa Use of Funds
The company will use the funding to accelerate product innovation and revenue generation.
About Carketa
Founded by Jason Berry and Brady Thurgood, Carketa provides data and intelligence software for the automotive industry. Their solutions are designed to help car dealerships and related businesses improve operations and profitability. Key offerings include tools for managing inventory, optimizing purchasing and pricing strategies, and enhancing interactions with finance, insurance, and lending partners. Carketa's platform integrates real-time data and AI-driven insights to support decision-making and drive business growth. In addition to working with dealers, Carketa collaborates with OEMs, lenders, warranty administrators, and insurance providers.
Funding Details
Company: Carketa, Inc.
Raised: $4.4M
Round: Early Growth
Funding Month: August 2024
Lead Investor: Capital Eleven
Additional Investors: Crosslink Capital, Origin Ventures, Allegis Capital, Peak Ventures
Company Website: https://carketa.com/
Software Category: Dealership Solutions
Source: https://www.prnewswire.com/news-releases/carketa-secures-new-growth-capital-in-funding-round-led-by-capital-eleven-to-accelerate-product-innovation-and-revenue-generation-efforts-302216026.html