ACV Auctions transforms wholesale vehicle transactions through a digital marketplace that streamlines buying, selling, inspections, and pricing analytics for dealerships. Its platform allows sellers to list cars with detailed condition reports, while buyers access transparent data, real-time bidding, and history insights. The company also offers transportation, floorplan financing partnerships, and post-sale services. ACV focuses heavily on data accuracy and operational reliability, enabling dealers to reduce risk, speed up inventory turnover, and participate in a more efficient national auto marketplace.
What Is ACV Auctions and What Does It Do?
ACV Auctions, founded in 2014 by Daniel Magnuszewski, Joe Neiman, and Jack Greco, is a Buffalo-based (United States) B2B auto e-commerce and auction platform serving dealerships nationwide.
With a team of 1,674 employees, it provides mobile inspections, digital auctions, pricing intelligence, logistics tools, and inventory management services. The platform enables dealers to transact faster, reduce operational friction, and make more data-driven sourcing decisions.
How Much Funding Has ACV Auctions Raised?
1. Conventional Debt
- Amount Raised: $50M
- Date: September 2020
- Lead Investors: Ally (corporate lender)
- Motivation: Strengthen liquidity, support expansion and operational scaling.
Total Funding Raised: $350M
Latest Funding Date: September 2020
Key Investors
1. Wellington Management
- Details: Growth investor backing public and private companies.
- Investment Focus Areas: SaaS, mobility, marketplaces.
- Notable Investments: Uber, Airbnb, SpaceX.
2. HTIF (Hail Tech Investment Fund)
- Details: Early-stage tech and mobility-focused investor.
- Investment Focus Areas: Auto-tech, marketplaces, AI.
- Notable Investments: Grab, GoTo, Carsome (sector similar).
Where Is ACV Auctions’ Headquarters?
ACV Auctions is headquartered in Buffalo, United States, benefiting from a strong logistics, automotive, and operations talent pool.
What’s Next for ACV Auctions?
ACV Auctions aims to strengthen its inspection technology, expand logistics solutions, and build predictive pricing tools powered by machine learning. The company is also focusing on dealership integrations and national market penetration.
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