Car-advice site DriverSide announced today it has raised $5.3 million in a second round that brings the total amount it has raised to date to $8.4 million. The round was led by existing investor Catamount Ventures, and Allegis Capital participated with its first investment in the company. The company got a first round of about $3 million in July 2008.
DriverSide is an online resource that helps carowners make decisions related to buying, servicing, maintaining, accessorizing and selling their cars. The site has editorial content and car reviews, but also interactive features like the ability to ask mechanics questions, calculator tools to forecast the depreciation of one's car, and a marketplace for buying and selling cars. The company's founders, Trevor Traina, Jad Dunning and Adam Jackson, worked at CompareNet and StepUp Commerce, startups that were ultimately sold to Microsoft (NSDQ: MSFT) and Intuit, respectively.
By Rory Maher