iMotors.com, an online used-car retailer, has raised $62.5 million in private investment, one of the largest funding rounds for any B2C retailing company since the spring 2000 technology market downturn.
iMotors plans to use these funds to fuel continued national expansion and investment in technology infrastructure. Existing and new investors include Vulcan Ventures Inc., the investment organization of Paul Allen, Charter Growth Capital, DLJ’s Fund of Funds, in addition to Global Retail Partners, Oak Investment Partners, Trinity Ventures, Moore Capital Management, Meritech Capital Partners, and Rosewood Ventures.
Including this latest round of financing, iMotors has raised $139 million in equity financing since its inception. Much of iMotors’ new financing will be dedicated to targeted customer acquisition programs as well as continued nationwide expansion.