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A Switch in Ownership for PureCars
Recently, PureCars, a company providing data-driven digital solutions for automotive announced Diversis Capital and Stage 1 Ventures as its new strategic investors. Initially, Stage 1 was part of PureCars after Raycom Media acquired the rights to the company in 2015. In 2018, Raycom was purchased by Gray Television, a deal which underwent the process of completion in January 2019 immediately before the closure of deal Raycom completed the spin-off procedure of its two wholly owned subsidiaries, CNHI and PureCars.
The singularities offered by both Diversis and Stage 1 to invest capital in middle-market businesses, targeting areas where it can add unique value in helping a company, have driven them to join hands for this automotive company. The managing director of Stage 1 is enthusiastic about the opportunity to re-partner with previous clients, after undergoing significant development over the past years.
The foundation of Purecars was led by present executive chairman, Jeremy Anspach over a decade ago to decipher the complex challenges faced by automotive companies. The leadership of Anspach and the added contribution from the seasoned team made the company from being a small start-up firm to possessing the best in class tech and achieving the accolade as the industry leader. The chairman remains confident that the financial support provided by new owners will improve the strategic procedure and enhance innovations at a rapid rate resulting in a hike of PureCar consumers.
PureCars’ efficient market-leading technology platform, with an efficient and effective solution to mass deficiencies in the automotive industry provided by dedicated and passionate management team enchanted Diversis’ managing director Kevin Ma to invest in the technology-driven automotive solution company. The company with collective investment promises its consumers and dealers to provide business intelligence software in the near future.