- CarNow operates a live-data automotive tech platform
- Runway provides growth loans to venture-backed and non-venture-backed companies seeking an alternative to raising equity
- Firm provides senior term loans of $10m to $75m to US- and Canada-based companies
Runway Growth Partners has provided a $40 million loan to CarNow, a live-data automotive tech platform based in Atlanta and Raleigh, North Carolina. The financing will support CarNow’s market expansion and product development.
“We are excited to include CarNow in Runway’s portfolio of innovative companies and support its effort to redefine the automotive buying experience for the digital age,” Greg Greifeld, managing director and deputy chief investment officer at Runway, said in a statement. “By providing CarNow with the growth capital needed to fuel its expansion, we are investing in the next evolution of this rapidly changing auto industry.”
Runway is a provider of growth loans to both venture-backed and non-venture-backed companies seeking an alternative to raising equity. Led by David Spreng, the firm provides senior term loans of $10 million to $75 million to fast-growing companies based in the United States and Canada.