DriverSide Announces Funding and Board of Directors

Tag : LED Board
SAN FRANCISCO, -- DriverSide, the first full service Web sitededicated to saving consumers time and money by making theownership or lease of an automobile hassle-free, announced todayits newest board members Jeff Bell and Mark Silverman. In addition,the company announces its first round of funding led by CatamountVentures. Catamount's innovative portfolio includes: Cafe Press,Second Life (Linden Labs,) Flock, Grid Net, Seventh Generation andVerdiem. Launched in early June 2008, DriverSide brings together ina single Web site every available car and truck-related resource,and makes it convenient, easy and free.

Bell spent 17 years in the automotive industry before joiningMicrosoft in 2006. He is largely credited for helping to turnaround the Dodge, Jeep and Chrysler brands during his tenure atDaimlerChrysler. Bell led the launch of the Dodge "Grab Life by theHorns" and Hemi campaigns, the Chrysler 300, and the Jeep 4-doorWrangler. During his tenure, jeep.com was named the #1 website byJ.D. Powers, and Bell's team was named 2005 Interactive Marketer ofthe Year by Advertising Age for work in video games and webisodes.Before Chrysler he spent a decade at Ford Motor Company.

"DriverSide fulfills a key need in the automotive industry byproviding objective information to consumers about products andservices," said Jeff Bell. "This Web 2.0 initiative significantlybenefits new and used car dealers, OEMs, and all independentautomotive product and service companies by creating betterinformed and more confident consumers."

Silverman has spent the past 15 years immersed in advising,founding, building and financing early stage companies. Prior tojoining Catamount as Managing Director in 2006, Silverman served aspresident and CEO of Bocada. Prior to Catamount Ventures, heldsenior executive roles in both enterprise software and consumerInternet companies, and was a partner at Venture Law Group in MenloPark, California. In addition to DriverSide, Silverman currentlyserves on the boards of Bocada, Ecohaus, Keibi, Gridnet, NestNaturals and Verdiem.

"It was an easy decision to support a team of successful consumerInternet entrepreneurs that are reaching an underserved market ofcar and truck owners," said Mark Silverman, managing director atCatamount Ventures. "Not since drugstore.com, have we seen such asignificant opportunity to leverage the Web to simultaneouslybenefit both the consumer and the companies serving them."

"We are delighted to welcome both Jeff and Mark to the Board," saidTrevor Traina, Founder and Chairman of the Board. Mark's strongbackground in consumer Internet and Jeff's skills in onlineautomotive will be of immeasurable help to us in our mission tosave money and simplify vehicle ownership for the 196 milliondrivers in the U.S. today."

The DriverSide board now includes Bell, Silverman, Traina andDriverSide CEO Jad Dunning.