NAPLES, Fla. — Car Lister announced that it has raised $6.5 million in angel-round funding to support the company’s national expansion. Car Lister is a web application that hosts buyers and sellers of new and pre-owned cars.
The funding will allow Car Lister to expand relationships with its dealer network. The expansion plan includes more than 200 dealers across 29 states.
“We believe current market offerings from legacy sites such as Cars.com and TrueCar fail to provide users with a compelling and user-friendly experience for buying and selling cars,” said Bryan Harmon, founder and CEO of Dreamware Inc., Car Lister's parent company. “This investment round will allow us to expand throughout the United States to meet the demand for a state-of-the-art automotive e-commerce platform.”
The company also announced that former Morgan Stanley President and CEO Robert Scott was joining Dreamware as non-executive chairman of the board. He will be tasked with helping steer the strategic direction of Dreamware from the early stage to the enterprise stage.
“We are delighted to have an individual like Robert Scott with his broad management experience, including capital markets and strategic transactions, as chairman of our company,” Harmon said.
Car Lister was launched in October 2014 and allows users to list vehicles by providing the VIN number and answering a series of questions. The application will generate titles, vehicle descriptions and a full vehicle history report and also allows photo and video uploading. Car lister also helps dealers improve communication with customers by providing direct messaging and making use of Apple's FaceTime.