Capital One Growth Ventures, the investment arm of Capital One, announced today that it will commit $14 million in funding to Vast – a “data-as-a-service”company.
The investment was aimed at increasing Vast’s consumer market place, CarStory.com, “while bringing its big data platform to other industries such as real estate” according to company press release.
CarStory uses big data and analytics to understand consumer intent and match each shopper with the right vehicle, according to the release.
“What Vast is delivering to consumers with its CarStory product is very intriguing to us at Capital One,” said Jaidev Shergill, managing partner of Capital One Growth Ventures. “Consumers expect more information at their fingertips and for that data to be personalized and customized. Big data technologies enable this and Vast delivers it.” Shergill will join the Vast board of directors, the company said.
CarStory.com is a consumer marketplace for used cars, which currently features over 3.5 million vehicles.
