WASHINGTON, D.C. — GoMoto, an automotive startup company, announced this week the completion of a seed financing round and the appointment of former Edmunds CEO Jeremy Anwyl to its advisory board.
After two successful pilots with Ford and local dealers in King of Prussia, as well as one pilot which recently ended in Cherry Hill this July, GoMoto can now put forth the investments to further grow the business model and expand its technology footprint, officials said. The company provides pressure free, experiential displays in retail locations to simplify the car buying process.
“The recent success of our pilots has provided us a platform for growth,” said GoMoto CEO Todd Marcelle. “Based on that success, we now have the ability to execute and continue effectuating our model in retail locations nationally as well as dealership showrooms. Accompanying the round with the addition of Jeremy Anwyl is incredibly powerful for GoMoto and of extreme value to us. He has built Edmunds into an industry leader and has wealth of experience scaling companies growing as fast as we are.”
Anwyl, an integral player in the development of car shopping website Edmunds.com, has recently retired from his position as vice chairman and CEO after fourteen years. His ground-breaking enhancements not only expanded the company from 50 employees to over 550, but Edmunds since has experienced exponential growth in revenue.
“I am pleased to have the opportunity to join the company and work with such a talented team,” Anwyl said. “GoMoto has the technology platform and business model to be the market leader in redefining the shopping experience for today's consumers, dealers and OEMs.”
Officials said GoMoto was on track to expand its dealer footprint into the hundreds by year end. OEM and Strategic partnerships are also in the works to launch more experiential displays in the Midwest and south by winter 2014.