TrueCar, a publisher of real-time new and used vehicle transaction data, has announced that it has secured up to $200 million in debt and equity financing from USAA, Capricorn Investment Group and GRP Partners, a portion of which will be used to fund the development of new revenue streams, growth and strategic acquisitions.

"TrueCar has reached a point where we have an opportunity to forever change the car buying experience while also helping our certified dealers across the country," said Scott Painter, Founder and CEO of TrueCar, in a release. "The reality that consumers shop differently today than in the past, creating an opportunity to transform the entire system in a way that benefits both buyers and sellers."

TrueCar's total number of vehicles sold is now over 350,000 resulting in total savings to consumers of just under $1.5 billion, according to the company.

Debt capital is being provided by Silicon Valley Bank.

“Our mission is to help entrepreneurial companies of all sizes succeed by providing creative financing solutions as well as industry knowledge and connections. TrueCar is on the right track with consistent growth, despite a tough economy. We look forward to continuing to work with them as they grow," said Mark Turk, Managing Director for Silicon Valley Bank in Southern California.

The financing comes on the heels of two recent acquisitions by TrueCar – the signing of a definitive agreement to acquire Automotive Lease Guide (ALG), an industry source for automotive residual values, from DealerTrack Data Services, a subsidiary of DealerTrack Holdings; and second, the acquisition of Carperks, a provider of automotive purchasing and leasing programs for over 1,000 U.S. businesses and their more than 25 million employees.

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