Drive Motors, a US-based provider of e-commerce software for car dealerships, has closed a $5.2m seed round that included talent management agency Emagen Entertainment Group and law firm Perkins Coie.
Bullpen Capital led the round, which also featured investors including fellow venture capital firm Khosla Ventures and Y Combinator, the operator of an incubator from which Drive graduated in 2016.
Drive Motors supplies software that integrates with car dealerships’ websites and showroom inventories, enabling them to sell their vehicles online. It is responsible for more than 1,000 orders each month.
Aaron Krane, Drive Motors’ founder and CEO, said: “E-commerce is rapidly becoming essential to top-grossing car dealerships, and this funding will allow Drive Motors to offer dealers of all sizes a full-stack solution that streamlines marketing, financing, contracting, servicing and more.”