Thursday, February 5, 2009
Zag Gets Investment From USAA
Los Angeles-based Zag, the online car buying software firm headed by former CarsDirect CEO Scott Painter, has scored an investment from financial services firm USAA, USAA disclosed Thursday. USAA did not provide financial details behind the investment. According to USAA, it is taking an equity position in Zag, which is also providing the firm with its car buying services. Zag develops technology which allows members of groups like USAA to fully configure and purchase cars, through car buying programs. USAA has been offering Zag's services to its members since 2007. Zag said today that the round was worth $37.4M, and also included prior investors Capricorn Investment Group, LLC, GRP Partners and Anthem Venture Partners.