PLEASANT GROVE, Utah –
A company providing a solution primarily to just independent dealerships in Utah received a funding injection to broaden its customer base nationwide and with franchised stores, too.
Carketa, the Utah-based developer of the Carketa Recon Software as a Service app and the Carketa Condition Report announced on Thursday that it closed a $1.375 million seed round financing led by Crosslink Capital with additional funding from Hack VC.
Carketa reiterated that its mission is to help independent and franchised dealers sell more vehicles faster online.
Carketa was founded last year and primarily marketed to Utah-based independent dealers.
“With this funding Carketa is expanding sales to independent and franchised dealers nationwide” Carketa chief executive officer Brady Thurgood said in a news release.
Carketa was formed to improve the reconditioning process to simply sell more vehicles per month. The company explained the Carketa Recon is dynamically reconfigurable to match any dealers current process and is tightly coupled with the Carketa Condition Report, a 200-point inspection system detailing a vehicle’s current condition.
With Carketa Recon, a dealer can upload inventory from a dealer management system (DMS), manage cars from the auction to the customer with active inventory management and vehicle valuations.
And with Carketa Connect, dealers and customers can track the vehicle through the recon process, often selling the unit before it’s on the front line.
Carketa co-founder Jason Berry also owns Action Auto, one of Utah’s fastest-growing independent dealerships.
“Carketa has helped my dealership set record-setting sales months even through COVID-19,” Berry said
Crosslink Capital is based in San Francisco with a focus on investments in digital media, internet services, financial technology, and business services. Parter Jim Feuille explained why the firm decided to fund Carketa.
“We’re excited to lead the seed round for Carketa,” Feuille said. “We have been impressed by what the team accomplished in a short period of time and look forward to supporting their vision to produce better car dealer solutions as car sales move on-line.”
Carketa also said it is expanding its sales team across the country and into Canada, too.
“We’re excited about what the next 12 to 18 months holds for Carketa,” Thurgood said. “Online car selling is a significant change in auto retailing. We are fortunate to be in a position to help dealers deliver a more efficient car selling experience. Research shows 90% of car buyers do their research online.”
For more details, go to Carketa.com.