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New York based Vroom has raised $54 million of Series B funding to cut out auto dealers and make the car buying experience as easy as ordering up an Uber. The round was led by Catteron Partners, and brings the total financing raised by Vroom to $108m.
“We want these transactions to be made truly in a matter of minutes,” CEO Allon Bloch told Fortune. “We’re trying to create the opposite experience of going to a dealership, where you have to negotiate the price and there are all these hidden fees.” Catterton, which backed Restoration Hardware and P.F. Chang’s, led the Series B funding round. General Catalyst Partners, the same venture firm that bankrolled Snapchat, Warby Parker, and Kayak, also invested in Vroom. Other investors in this latest round include T.Rowe Price Associates, Jeffrey Boyd, the chairman and former CEO of The Priceline Group, and Bob Mylod, former CFO of The Priceline Group.
http://fortune.com/2015/07/20/vroom-raises-54-million-to-turn-used-car-dealers-into-dinosaurs/
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