Get Newsletter Submit a Tip

Tech Startup Signs Major Deal With Luxury Brand

June 27, 2018 0 Comments

A vendor in Silicon Valley has just received millions of dollars in funding and signed an impressive contract with a major luxury brand.

Roadster, a leading automotive vendor in creating a seamless online retailing experience for consumers, got another boost in capital today from Costanoa Ventures.

“We just closed another 15 million in funding. That brings the total raised to 30 million dollars.”

CEO of Roadster Andy Moss says the money will go towards increasing their business ventures, but also will help them move into the Canadian market. Aside from the 15 million in funding, Roadster has also just signed an agreement to work with Lexus.

“With this particular luxury OEM (Original Equipment Manufacturer) we are really excited to start to bring this value to their dealers.”

Roadster has only been in operation for a few years. And as a successful startup Moss says the one thing that guarantees success is something you can’t even control, “You can have a product, you can have great team, you can have great customers, but if your timing is wrong that’s the piece you can’t control.”

Moss is hopeful with this recent funding, and agreement with Lexus, Roadster will only grow from here. “This is the way people are going to buy cars moving forward; So we are well positioned to sort of seize that opportunity and continue to grow and build a very large company.”

To read the full press release, click here.

About the Author: