Friday, October 24, 2008

Digital Performance Raises $3.2M, Hires CEO

Long Beach-based Digital Performance, which develops technology for online sales efforts in the after market automotive parts sector, is announcing Monday that it has raised $3.2M in a Series A funding round. The round was led by Rincon Venture Partners, and also included Arcturus Capital and Momentum Venture Management. According to Momentum Venture Management, which announced the deal, the round has not yet closed and is adding a "small amount" of additional capital before closing the round. Digital Performance has a database and technology which matches buyers of after market automotive parts with manufacturers. The firm's Series A funding will be used to add resources to build out the company's databases and to reinforce its operations. In conjunction with the move, Digital Performance has hired Andrew Donchak, formerly EVP of Autobytel, as its CEO. Donchak has also served at Navtech. More information »