June 15, 2015
DC based Carsquare has become much more than just a search platform for buying/leasing cars. In recent months, they've added a bunch of new features to their site to make it easier, higher functioning, and more engaging for users. They're also in the process of a second funding round which will help them continue to expand.
The main component of Carsquare is still their search function. They aggregate the top online auto sites as well as listings from their partners (such as CarFax and eBay Motors), so you can do all of your searching in one place. They're continually working on improvements to make researching and buying a car as easy as possible.
One of the new features is a virtual garage where you can “park” cars you're interested in and invite people from your personal network to check them out and give feedback. They already offer unbiased reviews, but having input from people you personally know and trust is an important step in making an informed decision.
According to CarSquare CMO Mikah Sellers, they're close to closing a second round of funding. They plan to use the money to expand their marketing efforts and work on adding even more features to their platform.
“We have built fantastic momentum over the past year,” said Carsquare CEO Khurrum Shakir. “The value we offer to consumers continues to get better every month, continuing to build and strengthen our partnerships with the best automobile listing sites is one of our top strategic priorities.” “The round we are raising will also enable us to finalize the development of some outstanding new features that will cement our place in the market as an innovation leader.”
A little over a year ago, they raised an undisclosed amount in a Series A round. That round was led by Robert G. Hisaoka, an early-stage investor with experience in the automotive industry. They put that funding towards product development and improving their search functions.
Image Credit: Flickr/Randy von Liski
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