The Lasso Raises $9.8M

The Lasso, a NYC-based provider of an online car bidding platform, raised $9.8M in funding.

The round was led by Crosslink Capital and Manresa Ventures with participation from Contour Venture Partners, Liquid2 Ventures, Ritual Capital, Correlation Ventures, and others.

The company intends to use the funds to expand operations and its development efforts.

Founded by Nathan Milhalovich and Mike Allen, The Lasso provides a platform that links car sellers directly to a network of hundreds of top-notch dealerships. With it, car sellers are able to obtain multiple offers for their cars from different dealerships within 24 hours. Dealerships are able to get access to a new source of inventory allowing them to compete against nationwide dealerships.

In less than 2 years since its launch, The Lasso has hosted over 25,000 listings, together worth more than $625m.