Wednesday, October 13, 2010

Carwoo, Former Portland Startup, Gets Funding

Former Portland startup Carwoo, an online car buying site, said today it has raised a Series A round of funding, bringing its total raised to $6M. The funding is bittersweet for the Portland area, where CarWoo was founded in 2008, as the firm was lured down to Silicon Valley by the Y Combinator startup incubator program and no longer has operations here. Carwoo was founded by Tommy McClung and Erik Landerholm, but has moved to Burlingame, California, after getting seed funding and participating in the Silicon Valley Y Combinator program in late 2009. CarWoo said the new funding came from Comcast Interactive Capital, Blumberg Capital, Accelerator Ventures, Raymond Tonsing and Dillon McDonald. More information »