BPV announces two new growth equity investments

January 27, 2016
PowerChord – St. Petersburg, FL
Provider of digital brand management software and services – Ballast Point Ventures has led a $10 million equity investment in PowerChord, Inc. Founded in 2001, PowerChord, Inc. provides a suite of internet brand management and digital marketing services for major brands and their dealer networks in the United States and Europe. PowerChord’s Software-as-a-Service offering allows major brands to maintain brand consistency down to the local dealer level. The Company’s customer engagement platform creates a universal online brand experience for national and international brands with consistent content, data, and messaging at the local dealer level. Today, there are over 9,000 individual dealers on the PowerChord platform. PowerChord is led by CEO Lanny Tucker and Founder and Chief Strategy Officer Pat Schunk. PowerChord will use the proceeds from this minority investment for partial shareholder liquidity, sales force additions, and to bolster its product development and marketing efforts.

 

The Zebra – Austin, Texas
Online automotive insurance agency and comparison platform – Ballast Point Ventures has led a $12.5 million equity investment in The Zebra. Founded in 2012, the Zebra offers a comprehensive automotive insurance comparison platform that allows consumers in all 50 states to compare quotes from more than 200 insurance carriers. The Company’s comparison engine collects user-submitted data via the website and displays the automotive insurance rates from multiple carriers, providing a valuable new tool to insurance shoppers that has earned comparisons to the travel search engine Kayak.com. The Zebra also operates as a licensed independent insurance agency and can currently sell and bind automotive policies in multiple U.S. states. The Company is led by Founder and CEO Adam Lyons and COO Joshua Dziabiak, both of whom were named to Inc. Magazine’s 30 Under 30. The Zebra will use the proceeds from this minority investment to enhance its online comparison platform, expand its insurance agency capabilities and hire new team members.
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