Transportation & Distribution Company

TRUECar

0%

Funding Goal
Funding Raised So Far $351,600,000
Funding Commitments $0
Funding Remaining
Funding Type Equity
Pre-Money Valuation
Investor Ownership
Interest / Dividend
Previous Funding

Company Overview


TRUECar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for identically-equipped new cars in their geographic area. TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry and has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.

TRUECar is a data-driven company that sources, compiles, and analyses car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold over 600,000 vehicles across the country. Its national network of more than 5,000 Certified Dealers is committed to provide no-hassle pricing for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.

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Business Summary


Company Age 17 years, 4 months
Employees 29
Sub-Industry Other Transportation & Distribution
Prior Year Revenue
Current Year Revenue
Next Year Revenue

Management


Scott Painter
Chief Executive Officer
Scott Painter

Scott Painter is the founder and CEO of TrueCar and oversees day-to-day operations and the strategic direction of the company. He also chairs the Board of Directors.

Mr. Painter is a serial entrepreneur having incorporated 37 companies and having raised over $1.25 billion in debt and equity capital for those businesses over the last 20 years. His primary focus and passion is auto-retail and he was founder and CEO of CarsDirect.com and Build-To-Order as well as having been an early advisor to numerous automotive businesses including Tesla.

Mr. Painter was an Army interrogator and then attended West Point where he studied political science and systems engineering. While at West Point he served as class president before transferring to UC Berkeley where he studied political economics.

Prior to graduation he dropped out to sell his first auto-related start-up, AUTOAccess, an electronic database of used cars for sale.

Mr. Painter was an IdeaLab CEO and an eCompanies CEO.

Steve Hansen
Chief Operating Officer
Steve Hansen



Prior to joining SpinMedia in 2012, Hansen helped revolutionize the retail automotive industry as President and Chief Operating Officer of TrueCar, Inc., where he led technology, product development, business intelligence, strategy and administration at the groundbreaking company.

Before TrueCar, Steve held titles of COO, CFO and CAO at then-industry-leading online community GeoCities and oversaw the online community through its IPO and landmark $5 billion sale to Yahoo!

As CEO and Chairman of sports-based online community Weplay, Steve built important relationships within the entertainment industry including partnerships with CAA, MLB Advanced Media, Derek Jeter, LeBron James and Peyton Manning.

Steve has also served as Senior Vice President of Universal Studios and was with KPMG as a partner in the Entertainment, Media and Technology Group.

Chris Porch
Chief Operating Officer
Chris Porch

Chris is a startup entrepreneur. He has previously led multiple start-ups, including as President and COO of TrueCar, the leading private label automotive buying solution for major consumer brands such as American Express and USAA.

Chris was also CEO of BetweenMarkets, which was sold to Inovis, and was Co-founder and Vice President of Trilogy Software helping lead the company from start-up to $250M in revenue.

Chris serves as an advisor at Capital Factory, an Austin based early-stage accelerator program, where he met the RecycleMatch team.

Chris earned a B.A. in Economics from Stanford University.

Bernie Brenner
Vice President Business Development
Bernie Brenner

Bernie Brenner oversees TrueCar's business development, strategy and partner relationship management.

Prior to joining TrueCar in 2005, Brenner served as vice president of business development for Carfax, Inc., where he was responsible for the company's strategic partnerships with OEMs and online marketing partners.

Earlier in his career, Brenner was founder and CEO of PromiseMark, Inc., an online consumer protection and recovery service for victims of identity theft, which was ultimately acquired by the credit reporting agency Experian.

He also founded 1-800-CAR-SEARCH, where he served as vice president of marketing and product development.

Rob Taylor
Vice President
Rob Taylor

Rob has two decades of experience on founding teams and early stage operations, including three venture backed businesses and one IPO. Rob currently serves as the President of BlackLocus, a SaaS software company focused on pricing and assortment intelligence and recently acquired by The Home Depot. Prior to BlackLocus, Rob was one of the early execs at TrueCar, Inc, an auto pricing and buying service disrupting the way cars are bought and sold, where he started and scaled Truecar.com (the consumer-focused division). Rob was also a founding team member of Pricelock, another disruptive software company helping companies and individuals protect against fuel and commodity price volatility.

Rob lives in Austin, TX with his wife Renee, toddler Jack and hypertensive mini-Schnauzer Klaus. Robs passion outside of family and startups is road cycling in Texas hill country.

Larry Dominique
Vice President
Larry Dominique

A 30-year veteran of the automotive industry, Larry Dominique currently serves as President of ALG. Larry brings an extensive blend of management experience, product knowledge and a unique perspective on how automakers and lenders are using data products to the position.

Previously, Larry was the Vice President of Product Planning for Nissan North America, Inc., responsible for advanced and product planning for North and South American Nissan and Infiniti vehicles. At Nissan, Larry also worked as a Chief Product Specialist and a Director in the Product Planning department where he oversaw product competitiveness from a consumers perspective, beginning at the development stage throughout the product lifecycle. He was responsible for the Nissan Frontier and Titan pick-up trucks as well as the Nissan Xterra, Pathfinder, Armada and the Infiniti QX56 sport-utility vehicles. Larry has also held several engineering management positions in both electrical and mechanical disciplines.

Chief Technology Officer
Mike Dunn

Mike Dunn joined TrueCar in May 2013 as Chief Technology Officer (CTO), where he is defining and implementing the company's forward-looking technology and business strategy.

Prior to joining TrueCar, Dunn held similar posts with Hearst Interactive Media as CTO, Corporate CTO for Time Warner, founding CTO for Dell Online and EVP/CTO for Encoda Systems.

Dunn, who makes frequent public speaking appearances on technology due diligence, the semantic web and online video technologies, has also served as a mentor at the MIT Media LAB, Columbia University and the Northwestern Kellogg School as well as an advisor to a variety of Silicon Valley, New York and Boston startups.

Dunn has served on numerous advisory boards, including Brightcove, Hootsuite and Blumberg Capital.

He currently services on the board of the Ballston Spa National Bank (New York) and advisory boards of RAMP (Boston) and Arkami (Southern California).

Chief Financial Officer
Mike Guthrie

Mike Guthrie, who joined TrueCar in 2012, brings more than 20 years of experience advising, investing in and operating technology companies.

Prior to TrueCar, Guthrie was senior vice president of SharesPost, an online marketplace for private investments.

His private equity experience spans both venture capital and complex buyouts and restructurings. He co-founded TPG Ventures in 2000 and was also a principal at Garnett & Helfrich Capital, a middle market buyout firm.

Guthrie started his career on Wall Street at Montgomery Securities and Credit Suisse First Boston, where he advised companies such as JDS Uniphase, Broadcom, RF Micro Devices, OpenWave and SGI on capital raising and strategic matters.

He holds a B.A. in Economics from University of Virginia and an M.B.A. from the Stanford Graduate School of Business.

Jason White
Advisor
Jason White

Jason White is General Manager, Publisher Business - West at OpenX. He is responsible for increasing adoption of OpenXs products and growing the West Coast publisher business development team. OpenX is the worlds leading independent provider of digital advertising technology that enables businesses to manage and maximize their ad revenue.

White, who had served OpenX in an advisory role since 2010, has extensive experience in developing, building, operating, and selling digital businesses in consumer product and technology spaces. Prior to joining OpenX, he was at Adknowledge where he served as vice president of media operations. Previously, White was senior vice president of FOX Audience Networks (FANs) MyAds. At FAN, White played a pivotal role driving the companys massive growth and its ranking, during his tenure, at Number 5 on the comScore Ad Network list.

Steve Moretti
Business Development
Steve Moretti

Steve Moretti is the CEO of Condurre, Inc., a publishing and consulting company that specializes in developing and working with online oriented companies, primarily in the automotive industry.

He is a native of Maryland, and obtained his BS in Business Administration, and his MBA with a concentration in Finance at the University of Delaware.

He has held management and executive level positions at PeopleFirst.com, Capital One, Kelley Blue Book, Interactive Financial Marketing Group (Dominion Enterprises), and Online Guru.


Vice President Development
Kenneth Potter

Ken Potter manages TrueCar's field sales and inside account management teams, and oversees TrueCar's efforts to grow and retain its network of dealer partners.

Previously, Potter was vice president and general manager, automotive, for Internet Brands, Inc., where he had profit and loss responsibility for CarsDirect.com, and established processes for profitable and sustainable business. During his 11 years with Internet Brands, he also oversaw inside and outside sales, customer service, accounting and automotive product development.

Potter's career in the automotive industry also includes serving as general manager of two car dealerships, including nearly three years at CarMax.

Vice President Development
Jim Nguyen

Jim Nguyen is responsible for corporate development, business development and the overall management of TrueCar's affinity partner channel. Jim brings more than 20 years of experience in strategy, finance, accounting, operations and corporate administration to TrueCar, where he's a founding executive and served as CFO until 2012.

Prior to joining TrueCar, Nguyen was the Director of Finance & Corporate Administration at ePolicy Solutions, a venture-backed enterprise software company acquired by ChoicePoint.

He was also the CFO and Managing Director of The Goetzman Group, a project management consulting firm, and Corporate Controller for Zyan Communications, a DSL service provider.

Nguyen's automotive background includes multi-functional roles at Toyota Motor Sales, USA, including strategic planning, product planning and corporate finance; and with venture-backed start-ups Model E Corporation and Build-to-Order, Inc.

Vice President
Michael Timmons

Michael Timmons brings more than 25 years experience in the automotive industry and a passion for modernizing automotive retail to TrueCar, where he oversees industry social media and Austin, Texas operations, including TrueCar's customer support center.

Before joining TrueCar, Timmons was vice president, operations for AutoNation, Inc., America's largest auto retailer.

He has also held executive positions with Zag.com, an online car-buying platform, and Autoland Resale Division, an independent used car retail and wholesale operation that serves credit union members through the U.S.'s largest automotive broker.

Previously, Timmons owned West Coast Trading, a wholesale/retail business specializing in bringing alternative buying programs to affinity groups in California, and one of the first companies to provide credit unions with offsite used car sales for their members.

Vice President
Pat Watson

Pat Watson brings nearly four decades of dealer and automotive trade associations experience to his role of overseeing TrueCar's relationships with dealer associations at the national, state and metro level.

Prior to joining TrueCar, Watson served as executive vice president and CEO of the South Carolina Automobile Dealers Association (SCADA) in Columbia, S.C., where he worked for 39 years. While with the SCADA, he served three terms on the board of Automotive Trade Association Executives (ATAE), which represents the executives of 115 state and metro dealer associations.

In addition to the ATAE, Watson is active in the American and South Carolina Societies of Association Executives. He's also president of South Carolina Automotive Youth Educational Systems, a national education program for recruiting and training young men and women for the retail automotive industry, especially in the areas of automotive technology and collision repair.

Vice President
Marla Hunter

Marla Hunter heads up the People team at TrueCar and ALG, overseeing human resources, recruiting and corporate culture functions for both organizations. Under her leadership, TrueCar has grown from 93 employees in 2010 to its current combined 300 employees.

Hunter has over 20 years of experience in management, leadership and organizational development across a wide variety of industries. She joined TrueCar from Brown Development in Lahaina, Hawaii, where she directed all phases of operations for multi-million dollar development projects.

Previously, Hunter was General Manager/HR Operations for the Yucaipa Companies. At Yucaipa, she oversaw the day-to-day operations as well as managed large-budget special projects, including the conversion of a historical landmark building into luxury office spaces.

She began her career with a successful start-up endeavor, Doctors On Call, building a tourist-oriented medical services business from the ground up.

Vice President
Tom Taira

Tom Taira, TrueCar's former president and co-founder, rejoined TrueCar in his new capacity after a stint as CEO for Honk.com, a social car shopping site, which he co-founded and was acquired by TrueCar.

Prior to joining TrueCar, Taira was co-founder and chief strategy officer for Zag, an automotive technology platform that facilitates car buying programs for some of the nation's largest brands, including USAA, AAA, Consumer Reports, American Express and Yahoo!.

He has also worked for Proxicom, a technology development firm, where he led product strategy and partner management for its core west coast clients (Nissan, Toyota, Infiniti and Mazda); Build-to-Order, a new American car company, directing brand and product strategy efforts; and Toyota Motor Sales USA, managing various activities in its eBusiness, product planning, corporate planning departments..

Taira holds an M.B.A. from Georgetown University and received his B.A. from University of California, Irvine.

Vice President
Stewart Easterby

Stewart Easterby oversees TrueCar's core operations, including dealer strategy & operations, new business lines and company talent development.

Prior to joining TrueCar, Easterby was the Vice President, Advertising Sales Operations, North America at Yahoo! Inc., where he led the national field and inside account management and sales operations functions, which on-boarded, managed and grew Fortune 500 and medium sized advertisers' display and paid search campaigns.

Previously, he served in a variety of business development and corporate development roles at paid search pioneer Overture Services, Inc., which was acquired by Yahoo.

He also served as a venture capitalist with Sorrento Ventures and a naval officer with U.S. Navy SEAL Team FIVE.

Easterby holds an M.B.A. with honors from UCLA Anderson, a B.S. from the Wharton School, University of Pennsylvania, and a B.A.S. from the School of Engineering and Applied Science, University of Pennsylvania.

Vice President
Mike Swinson

Dr. Michael Swinson develops pricing models and oversees forecasting, data analysis and marketing analytics for TrueCar, Inc.

Before joining TrueCar, Swinson was the vice president, statistical modeling at HSBC, Inc., where he managed statistical modeling for all of the company's U.S. credit card portfolios.

He has also held positions with Bank of America, where he was vice president of credit loss forecasting and was responsible for forecasting all credit card products; and Capital One, where, as a business analyst, he worked in marketing analytics and fraud detection.

Swinson holds multiple advanced degrees from the Georgia Institute of Technology, including a Ph.D. in Mechanical Engineering - Intelligent Control Systems (specializing in Artificial Neural Networks), a Master's in Applied Statistics and a Master's in Mechanical Engineering. He completed his B.A. in Economics and B.S. in Mechanical Engineering and Material Science at Duke University.

President
Philip Inghelbrecht

Vice President
Christopher Lichti

VP, Technology at TRUECar

Executive Vice President
Jim O'Brien

Executive Vice President and General Manager of ClearBook at TRUECar

Executive Vice President
Craig Ogg

Executive Vice President, Technology at TRUECar

Director
Genevieve Crawford

Director of Recruiting at TRUECar

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