Cazoo raises media funding from dmg ventures and becomes the quickest British company ever to achieve unicorn status

Cazoo is an online used car marketplace designed to transform how people buy, finance or rent used cars. Its platform lets users buy, finance, or rent a used car entirely online and have it delivered to their door within hours.

Achievements

Cazoo hasn gone from the idea stage at the seed round in December 2018 to launch in December 2019, to unicorn status in June 2020, to agree to a $7bn SPAC deal in March 2021. Cazoo is the fastest British business ever to have reached the rare and coveted unicorn status.

Cazoo has already sold thousands of cars, delivering them to customers across every region of the UK, from the tip of Cornwall to the top of Scotland. The business has generated over £20mn in revenues in its first three months.

Strategic Levers:

• A top-notch team from Zoopla, Made.com, Farmdrop, and MoneySuperMarket.

• 1,660 cars in inventory at launch for consumer choice.

• 50% UK population awareness in a year via high-profile marketing.

• Efficient end-to-end operations, bolstered by acquisitions (e.g., Drover, Imperial Car Supermarket, Cluno).

Support from DMG Ventures:

• £100mn+ investment for growth, team scaling, inventory acquisition, and aggressive advertising.

• Media asset utilization to enhance Cazoo's brand recognition.

• Content-led campaigns boosting consumer understanding and consideration.

Campaign Impact:

• +86% spontaneous awareness increase.

• +33% rise in readers considering Cazoo.

• +17% conversion from awareness to consideration.