Funding
Destination exit: Less talk, more acceleration drove quiet BacklotCars to $425M deal
In the half-decade run-up to BacklotCars’ historic $425 million exit, the Kansas City startup remained largely under the radar, Justin Davis acknowledged, noting the intentional move became less about strategy and more focused on team values. “Like many people in Kansas City and the Midwest, we all prefer getting to work rather than talking about…
$425M exit: BacklotCars selling to Indiana-based auto marketplace in ‘milestone event’ for KC
Five years after turning its ignition, Kansas City-revved BacklotCars is being acquired in a historic $425 million deal. Carmel, Indiana-based KAR Auction Services agreed to purchase the company by the end of the year, the companies said Tuesday morning. “KAR Global is the most innovative and progressive digital remarketing company in the world, and their…
$100K in microgrants awarded across 23 struggling, but resilient minority businesses
Editor’s note: The Ewing Marion Kauffman Foundation is a financial sponsor of Startland News. This report was produced independently by Startland News’ nonprofit newsroom. A COVID-era resiliency fund that quickly closed applications after receiving a deluge of response from entrepreneurs in need has awarded microgrants to 23 minority businesses on both sides of the state…
Kansas City’s Top VC-Backed Companies in 2020
The 2020 Top Venture Capital-Backed Companies List reflects a range of success stories and COVID-era challenges among Kansas City’s community of growth-stage, venture-backed companies. The list — updated annually by Startland News and its parent organization, Startland — shows that while few companies were spared from COVID-19’s impact, many of Kansas City’s leading entrepreneurs continued to grow…
LEANLAB awards $50K in seed grants to 19 Black and Latinx innovators in education
Entrepreneurs should reflect the communities they serve, said Katie Boody — a charge even more critical when innovative work touches Kansas City’s diverse public school systems, she added. “I know firsthand how challenging launching a startup can be for anyone, and especially for founders of color,” said Boody, co-founder and CEO of LEANLAB Education, announcing the…
