Funding round
CARSOME Series B
CARSOME, which works in used car marketplace services in Petaling Jaya, raised $19M in a Series B round announced on 8 Mar 2018, led by Burda Principal Investments. 4 firms took part, 4 of them already investors. It is CARSOME's second venture round on record; the one before was a Series A in Mar 2016.
$19M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
CARSOME did not disclose a valuation in this round. It came 24 months after CARSOME's Series A. It is 4.8% of the $399M CARSOME has raised in the venture rounds on record. CARSOME raised again 5 months later: a Bridge round of $8.0M in Aug 2018. Its next priced round, a Series E in Jan 2022, valued it at $1.70B.
CARSOME's funding rounds
CARSOME has 6 venture rounds on record and 3 other deals. This one is highlighted.
- Series A 2 Mar 2016, led by IdeaRiverRun $2.0M
- Other not a venture round 6 Jun 2017, led by Gobi Partners $6.0M
- Series B this round 8 Mar 2018, led by Burda Principal Investments $19M
- Bridge 1 Aug 2018, led by Family office of Joe Hirao $8.0M
- Series C 11 Dec 2019, led by MUFG Innovation Partners, Daiwa PI Partners and Endeavor $50M
- Series D 8 Dec 2020, led by Asia Partners $30M
- Debt not a venture round 1 Sep 2021 $30M
- Series E 31 Jan 2022, led by Qatar Investment Authority $290M$1.70B post-money
- Debt not a venture round 16 Jul 2025 $15M
Investors
Who put money in
Burda Principal Investments led the round with 3 other firms. Burda Principal Investments, Gobi Partners, InnoVen Capital and Lumia Capital had backed CARSOME before.
Lead investor
- backs 35 venture-backed companies existing investor
Also in the round
- backs 56 venture-backed companies existing investor
- backs 28 venture-backed companies existing investor
- backs 19 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series B rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| byton Automobile Dealers & Manufacturers | 11 Jun 2018 | $500M | not disclosed | not named |
| Guazi Used Car Automobile Dealers & Manufacturers | 16 Jun 2017 | $400M | not disclosed | HSG |
| Automobile Dealers & Manufacturers | 22 Jan 2019 | $14M | not disclosed | Joe Hirao |
| Automobile Dealers & Manufacturers | 1 Feb 2019 | $23M | not disclosed | Accel |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did CARSOME raise in its Series B round?
CARSOME raised $19M in its Series B round, announced in Mar 2018.
Who led CARSOME's Series B round?
Burda Principal Investments led it, with Gobi Partners, InnoVen Capital and Lumia Capital.
What was CARSOME's valuation at the Series B round?
It was not disclosed.
Did CARSOME raise again after this round?
Yes: a Bridge round in Aug 2018 of $8.0M.