The Venture Codex

Led · Equity · Aug 2022

Carmigo operates a web app that guides consumers through listing a vehicle, providing a free estimate, prompting for 13 preset photos, and running auctions of 24 hours or less that dealers can watch live. Sellers set a reserve price and dealers bid in a one-day auction format that aims to streamline vehicle disposition for individuals and buying for dealers. The company plans to use new funding to continue building its marketplace, further product development to enhance dealers' buying capabilities and sellers' experience, and to expand its team. Carmigo launched in January 2021 and is led by CEO Andrew Warmath. The company is based in Tupelo, Miss., and currently has about 30 employees. Since launch, Carmigo has raised a total of $10M.