Zag Raises $13.5M

Santa Monica-based Zag said today that it has raised an additional $13.5M in financing, in a deal led by the Capricorn Investment Group. Zag, which develops auto buying software which links automobile dealers and affinity groups like credit unions, said that the round brings the company's total raised to $46M in equity, alongside $21M in debt financing. Zag said the investment from Capricorn comes on top of existing support from GRP, Capital One, and Anthem Ventures. Zag is headed by Scott Painter, former CEO of CarsDirect. More information »