The investment was led by Nordic Eye Venture Capital with participation from the startup studio and seed investment firm, Science.
CarBlip chief executive Brian Johnson, said that the company’s main purpose was to bring the used-car buying experience online.
“One of the main things about why we started CarBlip is we wanted to circumvent the in-person negotiation process and avoid the influx of calls that a buyer gets,” says Johnson.
The user just downloads an app and looks for the brands they want that are available in an already geo-located area, Johnson said. Shoppers can submit bids on a vehicle privately and receive counter-offers via the app. Then, when they’re ready, they can head down to a dealership to move forward with the purchase, Johnson said.
While Johnson doesn’t have much auto experience himself, co-founders Eric Brooks and Ken Lane both spent time in the car business, Johnson said. Brooks founded LA Car Connection, a platform for buying and leasing new cars, while Kim Lane spent over a decade at Ford, according to the company’s website.
Like Wyper, CarBlip touts a Tinder -like interface that lets users swipe to select vehicles they’re interested in, what Johnson says differentiates his business is the ability to negotiate on the platform for the vehicle. It’s a feature that’s bound to attract interest from dealerships because they’re pretty much assured a sale, Johnson said.
“We loved the value proposition that they were signing up dealers directly,” said Richard Sussman, a the managing partner for Nordic Eye in the U.S.