Vroom Raises $50M Series E

What does Vroom do?

Vroom, is an online used car retailer. This online direct car retailer makes car buying and selling fast and easy. This company empowers users in buying a quality pre-owned care online and getting it delivered right to the doorsteps of the customer with a 7 day in home test drive. This online direct car retailer offers great prices because they own every car they sell- mostly low mileage vehicle, late model. With this company user can finance, browse and buy a car all on their website.

How much Vroom was funded?

The company raised $50M in Series E on September 20, 2016 from Allen & Company, LCatterton,  General Catalyst Partners, Foxhaven,  T. Rowe Price and Altimeter Capital.

Previous funding

$7.25M in Series A on July 7, 2013

$12M in Series B on November 20, 2014 from Steve Berrard

$35M on June 16, 2015

$54M in Series C on July 20, 2015 from General Catalyst Partners,  Jeffery Boyd, LCatterton, Robert Mylod,  T. Rowe Price, John Elway and PICO Partners

$95M in Series D on December 16, 2015 from Allen & Company,  General Catalyst Partners, LCatterton,  T. Rowe Price,  Alpha Venture Partners, October Capital, PICO Partners and Adams Street Partners.

What is next for Vroom?

Vroom plans to use the latest funding raised for expanding its operations in the United States and for increasing inventory. The company plans on having about half a dozen refurbishing facilities in USA. It currently has over 2,300 vehicles.

More about Vroom

Vroom was founded in August, 2013 by Marshall Chesrown and Kevin Westfall. It was founded in New York, New York. The company is changing the way people are buying, selling and trading in cars. It has a ninety-day warranty to a complete year of free twenty-four roadside assistances. The company partners with more than 30 banks for getting the right rate for the users.