| Series D, 9/07 Anthem Venture Partners Arcturus Capital Capital One Financial Corp Capricorn Management GRP Partners | $13.5M |
With close to 70% of new car purchases being preceded by online research according to JD Power, Zag.com is a service for buyers and sellers that looks to make this research lead directly to new and used car sales at pre-approved prices arrived at via their service. Zag partners with a number of trusted names in the automotive world to deliver quality information to car buyers (in June 2006 the company selected Kelley Blue Books to provide pricing and configuration data on automobiles) and deliver more sales to dealers by delivering quality targets for new and used car purchases. Currently the site powers transactional services for programs like Capital One Auto Buying and Auto Buying for select AAA clubs. The company’s goal is to provide an end-to-end solution for auto-buying online, from research to configuration to price negotiation and financing.
While startups like HotSwap are focused on bringing some of the innovation of Web 2.0 to the auto-buying process, Zag is mostly focused on building a transaction engine for the buying and selling of automobiles.
