DriverSide.com secures $5.3 Million in series B funding
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San Francisco: DriverSide, a web site built specifically for the car owner has secured $5.3 million in series B funding. New investor Allegis Capital led the round with participation from original investor Catamount Ventures and the company's founders. The funding will be used towards investment in revenue-generating partnerships with automotive services companies looking to reach car owners, and to accelerate DriverSide's product development. The new round of funding brings DriverSide's total venture capital funding to $8.4 million. "The auto industry is in a crisis far deeper than they could have imagined as consumers hold on to their current vehicles longer and longer," said Jad Dunning, CEO of DriverSide. Founded in 2007 by Internet Entrepreneurs Trevor Traina, Adam Jackson, and Jad Dunning, DriverSide is the first Web site specifically designed for automobile owners. DriverSide allows consumers to save time and money on servicing and maintenance costs as well as buy and sell automobiles, parts and accessories.

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