NEW YORK, May 08, 2012 (BUSINESS WIRE) — MojoMotors.com, the leading used car deals platform, today announced that it has closed a $3 million funding round with Atlas Venture and existing investors including RPM Ventures, NextView Ventures, and others. Ryan Moore of Atlas Ventures will join the company’s board of directors. Mojo Motors will use the funds to expand outside its beta market of Boston, scale marketing efforts, and continue to develop the Mojo platform.
“Mojo Motors brings real innovation to the used car marketplace,” said Atlas Venture partner Ryan Moore. “With nearly 40 million used cars sold per year, it’s a huge market ripe for disruption.”
Launched in 2011 by eBay Motors and Ford Motor Company veteran Paul Nadjarian, MojoMotors.com is the first website to bring customized price alerts and exclusive member discounts to used car shoppers. Mojo Motors has completed a successful beta in the greater Boston area, and plans to expand into more major markets during 2012.
“Mojo does the hard work, finding great deals on used cars while providing extra savings to members,” said Mojo Motors CEO Paul Nadjarian. “Just join, surf the cars that you like, and we’ll start sending you deals as they happen.”
About Mojo Motors
Founded by Internet and auto industry veterans, Mojo Motors helps car shoppers find discounts on used cars and trucks at local dealerships. After signing up for a free account, Mojo members have access to exclusive discount prices on thousands of vehicles and receive personalized alerts when dealers drop prices.
SOURCE: Mojo Motors, Inc.