Several Chicago venture capital firms invested in a $25 million Series B funding round for a Kansas City automotive marketplace startup.
Origin Ventures, Pritzker Group Venture Capital and Chaifetz Group participated in the funding round raised by BacklotCars, which operates an online car marketplace for auto dealers. Other, non-Chicago investors, included Stripes, Revolution’s Rise of the Rest Seed Fund, Royal Street Ventures and KCRise Fund.
BacklotCars has now raised $38 million to date. It just raised an $8 million Series A round in December, which Pritzker Group and Chaifetz also participated in.
BacklotCars’ platform gives auto dealers, auto finance and rental car companies a seamless way to buy and sell wholesale cars by providing vehicle inspections, transportation and inventory finance services. Last year, the tech company says it expanded its geographic footprint by more than 500 percent.
