KAR Auction Services will acquire the company that operates as DRIVN for $43 million. The company was founded in 2015 as CarCo Technologies by Groupon cofounders Brad Keywell and Eric Lefkofsky.
DRIVIN this week announced it has signed an agreement to license Chrome Data’s Automotive Description Service (ADS) to enhance its inventory-sourcing marketplace.
DRIVIN, which operates an online marketplace for dealers to sell, search and buy used inventory, was named one of the winners at the 15th annual Chicago Innovation Awards, the firm announced this week.
DRIVIN announced the launch of DRIVIN Marketplace, where dealers can list and remarket unwanted inventory to their established network of dealers. The service will then match and recommend the listed inventory to more than 1,000 open vehicle searches from dealers across the country, according to the company.
The company that aims to change the way dealers sell, source, acquire, and deliver used cars announced it has raised an additional $7.5 million in equity capital. Launched in mid-2015, the Chicago-based startup has now raised $17.5 million in funding.
By leveraging Black Book’s pricing information, DRIVIN will create used-car trends and analysis to educate and help dealers make smarter buying decisions.
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