Michigan Rise Funds Throdle, the All-In-One Social Platform for Car Enthusiasts
EAST LANSING, Mich. –– Michigan Rise has added Throdle, Inc. to its growing portfolio in the information technology sector. Based in Ypsilanti, Throdle is a social media plus platform facilitating a digital community for car enthusiasts who primarily meet at physical events. The platform provides event push notification features and much more. Throdle aims to bring a $28B market online, centralizing forums and gatherings for car enthusiasts and helping advertisers reach them. This investment from Michigan Rise will help the company double down on user acquisition and launch a partnership with Performance Racing Industry, the premier trade association for the motorsports industry.
"Throdle's innovative platform brings together the passion and community of car enthusiasts in a way that has never been done before," said Tommy Skinner, Senior Venture Associate at Michigan Rise. "We're proud to support their mission of centralizing the automotive world and providing a digital hub for car lovers. This investment marks an important step towards reaching a $28B market and revolutionizing the way advertisers connect with this vibrant community."
Throdle’s all-in-one social platform connects car enthusiasts with content they love and advertisers to a new online channel targeted at a large market that historically has been hard to reach. The automotive social network links car and motorsports fans with others who share a passion for cars, groups, and experiences. The platform helps enthusiasts discover auto clubs in their area and get tickets to car meets, shows, and other motoring events. Influencers can engage with their fans, promote their sponsors, and share products and services. At the same time, auto clubs and businesses can create, boost, and share their events, plan car meetups and cruises, and build their brands.
"We’re thrilled to have the backing of Michigan Rise as we continue to expand and enhance our all-in-one social platform for car enthusiasts,” said Nadine Lee, CEO of Throdle. “Our goal is to create a digital space where car lovers can connect, discover, and engage with their passion, while providing a valuable channel for advertisers to reach this highly sought-after market. With the support of Michigan Rise, we are confident in achieving our first milestone of 100K users and establishing key partnerships within the motorsports industry.”
According to DoubleVerify, US automotive advertisers spend $17B annually on digital ads to reach auto enthusiasts. They struggle to reach and engage with the diverse and fragmented market because it lacks a single platform. Throdle’s all-in-one solution benefits both targets, merging communities of collectors, hobbyists, aftermarket accessorizes, mechanics, car club members, and racing fans.
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About Michigan Rise
Michigan Rise is a wholly owned venture capital subsidiary of the Michigan State University (MSU) Research Foundation, operated in partnership with the Michigan Economic Development Corporation (MEDC). Michigan Rise provides early-stage funding to innovative companies that have the potential to transform industries and create jobs in Michigan.
About Throdle
Throdle is a Ypsilati-based company that produces a social plus platform facilitating a digital community for car enthusiasts. The social media platform provides event push notification features and will soon integrate a car and parts marketplace and ticketing system for the thousands of auto events that occur each year with millions of attendees.