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§ Private Profile · Los Angeles, CA, USA
Digital checkout platform for car buying and selling, simplifying secure payments, title transfers, and registration for private parties and dealers.
Based in Los Angeles, California, Caramel operates a digital checkout platform that facilitates used car transactions between private parties and independent automotive dealerships. The software manages the entire vehicle purchasing process, including price negotiation, vehicle authentication, biometric identity verification, title transfers, state registration, and secure digital payment processing. The company has raised $12 million in seed funding to scale its operations, and the firm reported a five-fold increase in both revenue and total vehicles sold during the six months leading up to early 2023. Caramel is backed by a syndicate of notable venture capital firms, including Zeev Ventures, Primera Capital, and Hearst Ventures. The executive team previously held senior leadership roles at the automotive leasing platform Fair.com prior to its acquisition by Shift. Caramel was founded in 2021 by co-chief executive officers Craig Nehamen and Ed Brojerdi.
Caramel has raised $12.0M across 1 funding round.
Caramel has raised $12.0M in total across 1 funding round.
Caramel has raised $12.0M in total across 1 funding round.
Caramel's investors include Hearst Ventures, Primera Capital, Zeev Ventures.
Caramel has raised $12.0M across 1 funding round. Most recently, it raised $12.0M Seed in March 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 22, 2023 | $12M Seed | Hearst Ventures, Primera Capital, Zeev Ventures | — | Announced |