Latest investment – AlgoDriven raises US$625,000 in Pre-Series A funding

We are happy to announce our latest investment Algodriven. AlgoDriven is an automotive data platform that helps car dealers, classifieds, banks and insurance companies accurately identify and price used cars. In under twelve month’s, the company has grown exponentially thanks to our unique culture, industry experiance, obssessive customer focus and ability to delivery innovative solutions.

Joining the round are Oman Technology Fund, 500 Startups through their MENA based 500 Falcon’s Fund, as well as Silicon Valley based Social Capital.

This new investment will enable AlgoDriven to further capitalise on its position as a market leader in automotive data and software field, in the Middle East, and internationally in Australia and New Zealand. New product innovation is a key focus of AlgoDriven, which will help car dealers, banks and insurance companies evaluate used cars more accurately. International expansion is also a key focus over the coming months, as AlgoDriven pushes into the wider MENA market and beyond.

Source: https://magnitt.com/news/algodriven-raises-us625000-pre-series-funding