Toronto-based online car retailer Clutch has raised $50 million in a Series D round led by Altos Ventures, an early investor in Roblox. New investors Industry Ventures and BMO Capital Partners joined, alongside Flight Deck Capital and FJ Labs. The funding boosts Clutch’s valuation above $575 million, recovering from its 2023 downturn.
CEO Dan Park noted that 2022 and 2023 were difficult years, but sees investor confidence returning. Clutch has quadrupled revenue over three years and turned profitable in 2023. The company plans to hire 100 employees as it expands operations.
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