Palo Alto, California-based Roadster, a provider of new car-buying solutions, has raised $1.75 million in seed funding. The investors included Brian Sugar, CEO of PopSugar; Adam Goldenberg, CEO of JustFab; and Nir Liberboim, founder of Uprise Ventures.
San Francisco, CA — February 24, 2015 –Roadster, the “direct-to-consumer” new car buying solution, today launched publicly and announced a strategic seed investment round of $1,750,000. Unlike other online auto services that are largely do-it-yourself or lead generation tools for dealerships, Roadster provides consumers with the ease, convenience and savings of online shopping without the time-consuming hassles associated with buying a new car.
When the consumer is ready to buy, Roadster’s unbiased Concierge team handles everything on behalf of the consumer from obtaining the best market price through delivery of the car to their home or office. Roadster is available initially for the California market, representing approximately 12% of U.S. auto sales.
“Online offerings have evolved to tackle the once unthinkable categories of travel, clothing, and real estate. Now, Roadster puts car buying in the same ‘solved’ category,” said Andy Moss, Roadster co-founder and CEO. ”With Roadster, we aimed to improve car buying to the level that people enjoy, not dread the process. We absorbed all the pain points, such as shopping, locating, negotiating and buying, into a simple, easy online experience. We save consumers money and time buying a car that’s perfect just for them.”
Roadster’s founders developed Roadster.com to address the increasingly web-savvy car buying public who in 2014 purchased 16.5 million new cars in the U.S., up 5.9% from the previous year. (Source: NADA)
How does Roadster work?
Roadster dramatically improves the new car buying process by providing a complete online buying experience from shopping for, to receiving a car. With Roadster, consumers can explore, compare and look for their perfect car among hundreds of thousands of vehicles and instantly see available inventory. The Roadster Concierge team then works with dealers on the consumers’ behalf to locate cars and get the best market price.
A key part of the Roadster experience, the Concierge team is made up of helpful, unbiased pros who work on all aspects of the purchase or lease process so consumers can avoid the many hours typically spent negotiating or sitting in the finance office of a car dealership. Before making any commitment, the consumer receives a simple Deal Sheet that outlines every aspect of the transaction including cash, lease, or finance alternatives. All paperwork is printed in advance and takes less than 15-minutes to sign as part of the delivery of the new car to their home or office. Roadster also helps consumers maximize the trade in value of their existing car.
Leading Roadster’s seed funding are: Brian Sugar, CEO, PopSugar; Scott Banister, Co-Founder and Chairman at Zivity; Adam Goldenberg, CEO of JustFab; Raad Mobrem, CEO of Lettuce; and Nir Liberboim, Founder of Uprise Ventures. Additional well known Roadster angel investors include Mark Goldstein and Don Hutchison.
“It’s clear that Andy and the Roadster leadership team have more experience, expertise and vision in the e-commerce and online automotive purchasing market than almost anyone else today,” said Scott Banister, Co-Founder and Chairman at Zivity and Roadster investor. “What makes Roadster so unique from other services is its unsurpassed visibility into available auto inventory, its 100% transparent and upfront pricing and the dedication to empower consumers with broad unbiased choices, so they can identify and buy the exact car they want, with no hassles. Roadster is the long-awaited one-stop source for buying a new car.”
Roadster is the simplest way to buy a new car. Roadster dramatically improves car buying, ensuring buyers save money and time, all in a stress free process that is completely transparent. With unmatched industry expertise, and complete knowledge of dealer pricing, incentives and rebates, Roadster always delivers huge savings with no hidden costs. Roadster is based in Palo Alto, CA and was founded in late 2013. For more information, please visit https://roadster.com