Clutch Announces Oversubscribed $50M Series D Funding Led by Altos Ventures
Deal News | Feb 11, 2025 | Azure Capital Partners Inc
Clutch, an innovative player in the online auto retail sector, has successfully closed a Series D funding round, raising over CAD 50 million. The funding, led by Altos Ventures and supported by key investors like Industry Ventures and BMO Capital Partners, marks a crucial milestone in Clutch's growth journey. Over the past three years, Clutch has achieved 4x growth, reaching $400 million in annualized revenue and achieving profitability in 2024. This new capital is aimed at supporting the company's geographic expansion, the establishment of vehicle reconditioning facilities, and increasing inventory to satisfy the rising demand from Canadian consumers. Clutch emphasizes its mission to improve the car buying and selling experience in Canada by offering a seamless, transparent, and hassle-free platform. The company is passionately inviting new talent to join its mission-driven team as it continues to redefine the auto retail industry.
Sectors
- Automotive Retail
- Venture Capital & Private Equity
- E-Commerce
Geography
- Canada – Clutch is a Canadian company serving Canadian consumers, with plans for further geographic expansion within the country.
Industry
- Automotive Retail – This industry is relevant because Clutch is focused on revolutionizing the car buying and selling experience in Canada, aligning with automotive retail.
- Venture Capital & Private Equity – The industry is relevant as Clutch's funding round involves significant investment from various venture capital and private equity firms.
- E-Commerce – Clutch operates via an online platform for buying and selling cars, making the e-commerce industry concerning digital transactions applicable.
Financials
- CAD 50 million – The amount raised in Clutch's Series D funding round.
- $400 million – Clutch's annualized revenue after achieving 4x growth over three years.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Clutch | Target Company | Company | Clutch is a Canadian company revolutionizing the car buying and selling experience through a transparent online platform. |
| Altos Ventures | Lead Investor | PE Firm | Altos Ventures, renowned for its investments in companies like Roblox and Coupang, is the lead investor in Clutch's Series D funding round. |
| Industry Ventures | Investor | Company | Industry Ventures is among the investors in Clutch's Series D funding round. |
| BMO Capital Partners | Investor | Company | BMO Capital Partners is a key investor in Clutch's Series D funding round. |
| Flight Deck Capital | Existing Investor | Company | Flight Deck Capital is an existing investor that renewed support in Clutch's Series D round. |
| FJ Labs | Existing Investor | Company | FJ Labs is an existing investor providing support for Clutch's Series D funding round. |