USA: The Cobalt Group closes $15 million financing to meet automotive industry's growing E-Business needs
The Cobalt Group (NASDAQ:CBLT) announced today that it has added $15 million in private equity funding to finance the continued development of e-business products and services for its automotive dealer and manufacturer customers. The $15 million investment results from a private equity agreement announced in June with Warburg Pincus Equity Partners, L.P., First Analysis Venture Capital, and Third Point Partners L.P. Cobalt will use the capital for new product development, investments in technology infrastructure, and general working capital.
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