Congratulations to portfolio company Octane on their $52m Series D round, led by Progressive Investment Company and with participation from existing backers Valar Ventures, Upper90, Contour Venture Partners, Citi Ventures, Third Prime and Parkwood, as well as new investors Gaingels and ALIVE. Looking ahead, Octane plans to use its new capital to expand to adjacent “other passion purchase” markets and continue to launch customer engagement tools as well as buying solutions for consumers shopping for powersports vehicles online.
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Octane raises $52m at a $900m+ valuation to help people finance large recreational purchases
“We quickly learned that the buying journey in powersports markets was broken beyond just financing,” Guss told TechCrunch. “We elevated our goal to build an end-to-end buying solution including editorial content, consumer pre-qualification tools, instant full-spectrum financing and digital deal closing.”
