Carro raises $20M in Series B funding round
LA-based Carro recently raised $20 million in its Series B round of funding led by Alpha Edison. The round also saw participation from PayPal Ventures, GC1 Ventures and Corazon Capital.
“When a customer purchases a bike, for example, they will most likely need a helmet, gloves and other accessories at the same time,” said Carro CEO David Perry. “We get them to see what things can go together with what you sell. For example, you sell makeup, but not brushes, so you could add them to your store without having to purchase them for your inventory.”
Founded in 2015 by Perry and Jason Goldberg, the Carro is a cross-selling and influence commerce platform.
Commenting on the investment, Alpha Edison managing partner Nate Redmond stated in a written statement that Carro “presents a compelling new way for brands to grow, by building direct relationships with customers without spending all of their profits on online advertising. We’ve been impressed with the pace at which the Carro team innovates and utilizes deep customer insights to deliver optimal results for customers.”
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