Thursday, March 12, 2009

DriverSide.com Steers In $5.3M

San Francisco-based DriverSide.com, which operates an online automotive information site, announced this morning that it has raised $5.3M in a Series B funding round. Allegis Capital led the round, which also included participation by the firm's original investor, Catamount Ventures and the company's founders. DriverSide said the new funding will go towards establishing partnerships with automotive service companies and towards product development. As part of the funding, Bob Ackerman of Allegis Capital joins the board. The new funding brings the company's total raised to $8.4M. DriverSide operates an online site helping automotive owners maintain their vehicle service history, estimates on repair costs, tracking of recalls, and review of vehicles. More information »