Funding round
CARS24 Series C
CARS24, which works in used and new car retail in Gurgaon, raised $50M in a Series C round announced on 18 Jul 2018, led by Sequoia Capital. 3 firms took part, 2 of them already investors. It is CARS24's first venture round on record.
$50M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
CARS24 did not disclose a valuation in this round. It is CARS24's first venture round on record, 3 years after it was founded in 2015. It is 14% of the $350M CARS24 has raised in the venture rounds on record. CARS24 raised again 15 months later: a Series D round of $100M in Oct 2019. Its next priced round, a Series E in Nov 2020, valued it at $1.00B.
CARS24's funding rounds
CARS24 has 3 venture rounds on record and 2 other deals. This one is highlighted.
Investors
Who put money in
Sequoia Capital led the round with 2 other firms. Kingsway FCI Fund and KCK Global Limited had backed CARS24 before.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Also in the round
- Kingsway FCI Fund existing investor
- KCK Global Limited existing investor
Comparable rounds
How it compares
5 Series C rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $100M, and this round was 50% of the median. The closest in time, other companies' Series C rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automobile Dealers & Manufacturers | 5 Sep 2018 | $100M | not disclosed | not named |
| Guazi Used Car Automobile Dealers & Manufacturers | 1 Mar 2018 | $818M | not disclosed | Tencent Holdings |
| WM Motor Automobile Dealers & Manufacturers | 8 Mar 2019 | $446M | not disclosed | Baidu |
| Automobile Dealers & Manufacturers | 30 Jul 2017 | $39M | not disclosed | Vitruvian Partners |
| Automobile Dealers & Manufacturers | 5 Jul 2017 | $20M | not disclosed | Integrated Asset Management and Digital Garage |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did CARS24 raise in its Series C round?
CARS24 raised $50M in its Series C round, announced in Jul 2018.
Who led CARS24's Series C round?
Sequoia Capital led it, with Kingsway FCI Fund and KCK Global Limited.
What was CARS24's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Automobile Dealers & Manufacturers?
5 Series C rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $100M, and this round was 50% of the median.
Did CARS24 raise again after this round?
Yes: a Series D round in Oct 2019 of $100M.