DALLAS — With its March launch of the Southeast and Northeast Regions, lanelogic Inc. set volume and revenue records in the month of April. As dealers become acquainted with the lanelogic system, bid volume is increasing daily.
Currently, lanelogic has over 600 active dealers and another 400 in the installation pipeline. The company is adding a hundred new dealers monthly and on pace to reach 2,000 active dealers within the next year.
"We are thrilled with our progress and growth. Since we are growing at such a rapid pace, dealers have demanded remote phone based installations to allow them to use the lanelogic trading network without delays," said Jim O'Brien, President of lanelogic. "This remote training will allow us to get dealers live and trading within days of sign-up. lanelogic has follow-up field operations that will service and reinforce the installation process."
The proven business model and the company's ability to exceed its original projections in operations and finance has allowed lanelogic to recently secure large credit facilities enabling the company to bring transactions and banking processes in-house within the next 30 days. ABC (Auction Broadcasting Company), DSC, Cain Capital and HBK Investments (Dallas, NYC, Tokyo, Hong Kong and London) will provide credit facilities allowing lanelogic to provide improved customer service and efficiency.
"We have an exciting new product that will soon be introduced that will give dealers the ultimate weapon in this increasingly competitive environment," said Bruce Thompson, founder and CEO of lanelogic. "Our tools have revolutionized the used car industry over the last 18 months and our future looks bright. We couldn't be more excited about the years to come."