TrueCar raises $30 million

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TrueCar is a car pricing information website that has raised $30 million in funding from Vulcan Capital, the venture capital firm founded by Microsoft co-founder Paul Allen. TrueCar is known for displaying the average selling price of a new car and showing what dealers in their network are offering. This round of funding will be used for market expansion and product development. Vulcan

“We believe TrueCar.com’s negotiation-free car buying platform has demonstrated significant traction in changing the way consumers behave in one of the largest segments of the economy,” stated Abhishek Agrawal, managing director at Vulcan Capital. Agrawal will be joining the board of directors at TrueCar.

[Source: PEHub]

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