ACV Auctions

ACV Auctions is a full-service, coast-to-coast, wholesale automotive auction, providing unmatched transparency in a marketplace thousands of dealers trust.

ACV Auctions’ mission is to become the most trusted source in the industry for purchasing wholesale vehicles.

ACV Auctions was founded in 2014 by Joe Neiman, Jack Greco, & Dan Magnuszewski. The company has its headquarter based in Buffalo, New York.

ACV's marketplace provides franchise and used-car dealerships a more effective and transparent way of buying and selling wholesale vehicles through 20-minute auctions.

ACV Auctions's technology modernizes the entire arc of auction operations, providing third-party inspections, account management, title, and payment processing, arbitration management and transportation. The company strives to be the most trusted source in the industry for dealers to buy and sell wholesale vehicles.

ACV Auctions's atent-pending products include Virtual Lift™, an imaging tool that captures the undercarriage of vehicles, solving an industry blindspot; and Audio Motor Profile (AMP), a tool that captures a clear audio clip of the vehicle's running engine to expose its true condition.

ACV Auctions currently offers services in 140 Territories across the country and has over 400 full-time Vehicle Condition Inspectors. Vehicles listed on ACV Auctions are accompanied by comprehensive reports to provide unparalleled insight into each vehicle's condition.

 

ACV Auctions is backed by leading investors including Bain Capital Ventures, Bessemer Venture Partners, Wellington Management Company, Fidelity Management & Research Co. and others. The company raised $55M in a private equity financing in Oct 2020. This brings ACV's total funding to $351.6M to date. The was gained a $1.5B valuation after it had raised their Series E in Nov 2019.

 

 

  • Year founded: 2014
  • Funding Info: $351.6M over 8 Rounds (Latest Funding Type: Venture- Series Unknown)
  • Yearly Revenue: $50M-$100M (2019)
  • Employee Size: 1,001-5,000
  • Business Valuation: Valued at $1.5B as of Nov 12, 2019
  • City/Town: Buffalo
  • State: New York
  • Country: United States
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