Tuesday, October 11, 2011
TrueCar Backed By Another Investor
Another investor has surfaced in the latest funding round for Santa Monica-based TrueCar, the online automotive pricing and research firm headed by Scott Painter. According to Colorado-based Keating Capital, it participated in a $50M, common stock financing round in TrueCar which closed on September 26th. TrueCar had earlier said in early September that it had raised a total of $200M in a combination of debt and equity financing, but had not included Keating Capital in its list of new investors. Keating said it contributed $3M in the funding round. Major investors in the funding were USAA, Capricorn Investment Group and GRP Partners.