Investors made a $60 million infusion on used-car marketplace Beepi Inc., betting that people will skip test drives when they buy pre-owned vehicles on the Internet.
Beepi said in a statement on its blog that the Series B funding included Foundation Capital and SherpaVentures as new investors. Others participating include existing investors Redpoint Ventures, SherpaFoundry CEO Tina Sharkey, OLX founder Fabrice Grinda, IG Expansion co-founderJose Marin, Homeaway co-founder Brian Sharples, former Loopnet CEO Rich Boyle and Silicon Valley Bank.
“We’re not big on offering all sorts of pretentious advice on how to create and launch a successful start-up,” said Beepi founders Ale Resnik and Owen Savir in a blog post. “We see rules, generally, as attempts to package the past rather than define the future.”