CARiD.com Secures $35M in Funding
March 13, 2024, 1:37 pm
Location: United States, New Jersey, Cranbury
Employees: 51-200
Founded date: 2008
Total raised: $35M
CARiD, a Cranbury, NJ-based e-commerce platform specializing in car parts and accessories, recently raised $35 million in funding. Fifth Star, Inc., a company focusing on consumer and consumer-adjacent technology businesses, acquired a majority stake in CARiD. This funding will fuel the company's expansion of product offerings, technological advancements, customer service excellence, and competitive pricing strategies.
Founded in 2008, CARiD has become a go-to destination for automotive enthusiasts, everyday drivers, and professional mechanics seeking high-quality products and expert advice. The company's user-friendly platform offers a wide range of automotive parts and accessories across various categories, setting it apart in a competitive market.
With the recent investment from Fifth Star, CARiD is poised for accelerated growth and continued success in the automotive e-commerce industry. The funding will be strategically allocated towards broadening product offerings, enhancing the online platform with advanced features, improving customer service, and offering competitive prices through data science and streamlined supply chain management.
CEO Lev Peker expressed excitement about the funding, highlighting CARiD's commitment to innovation and customer satisfaction. The company's vision for the future is ambitious, driven by a clear upward trajectory in the auto parts market and a dedication to providing exceptional value to customers.
CARiD's strategic positioning and financial backing position it for remarkable growth and innovation, solidifying its place as a frontrunner in the automotive e-commerce sector. With a focus on affordability, quality, and customer-centric service, CARiD is ready to meet the evolving needs of the automotive community and drive continued success in the industry.
Founded in 2008, CARiD has become a go-to destination for automotive enthusiasts, everyday drivers, and professional mechanics seeking high-quality products and expert advice. The company's user-friendly platform offers a wide range of automotive parts and accessories across various categories, setting it apart in a competitive market.
With the recent investment from Fifth Star, CARiD is poised for accelerated growth and continued success in the automotive e-commerce industry. The funding will be strategically allocated towards broadening product offerings, enhancing the online platform with advanced features, improving customer service, and offering competitive prices through data science and streamlined supply chain management.
CEO Lev Peker expressed excitement about the funding, highlighting CARiD's commitment to innovation and customer satisfaction. The company's vision for the future is ambitious, driven by a clear upward trajectory in the auto parts market and a dedication to providing exceptional value to customers.
CARiD's strategic positioning and financial backing position it for remarkable growth and innovation, solidifying its place as a frontrunner in the automotive e-commerce sector. With a focus on affordability, quality, and customer-centric service, CARiD is ready to meet the evolving needs of the automotive community and drive continued success in the industry.