TLDR:
Key Points:
- Runway Growth Capital provides a $40 million growth investment to CarNow, a live-data automotive technology platform.
- The investment will enable CarNow to accelerate product development and enhance its suite of digital retailing solutions.
Runway Growth Capital LLC has announced a $40 million commitment to CarNow, a leading dealer retailing system in the automotive industry based in Raleigh, NC. The funding is aimed at supporting CarNow’s market expansion, accelerating product development, and enhancing the overall car buying and selling experience. CarNow is known for its innovative digital tools, including Digital Retail, Digital Messaging, and Conversational CTAs.
The strategic investment from Runway Growth Capital reflects the company’s dedication to partnering with high-quality firms in the venture ecosystem. This partnership is set to redefine the automotive buying experience for the digital age and drive innovation in the rapidly changing auto industry. With the additional capital provided by Runway, CarNow will be able to focus on expanding its digital platform and further simplifying the car buying process through technology.
Runway’s investment in CarNow emphasizes the belief in the company’s potential to modernize the car buying and selling process. By empowering CarNow with the necessary growth capital, Runway aims to support the next phase of CarNow’s expansion and innovation. CarNow, headquartered in Atlanta, Georgia, is one of the fastest-growing companies in the automotive sector with over 5,000 dealership customers and multiple manufacturer certifications.
Overall, the partnership between Runway Growth Capital and CarNow signifies a commitment to driving progress and advancement in the automotive industry through technology-driven solutions.
