Shift Technologies, a San Francisco-based people-powered marketplace for buying and selling a car, raised a $50M Series B financing.
The round was led by Goldman Sachs Investment Partners (GSIP), with participation from existing investors DFJ and Highland Capital Partners. In conjunction with the funding, Ian Friedman, co-head of GSIP Private Investments, joined the Shift Board of Directors.
The company will use the funds to grow its team and enter new markets.
Led by George Arison, co-founder and CEO, Shift offers an end-to-end car concierge service that delivers free on-demand test drives and appraisals on-site at the buyers’ or sellers’ location and manages the complete transaction process at every stage.
The company recently launched its second market in Los Angeles and is expected to be operating in over 20 markets by the end of 2016.
Shift had previously raised a $23.8M Series A round led by DFJ and Highland Capital.
FinSMEs
01/09/2015