Vroom, a New York and Houston-based national online auto retailer, raised $146m in Series G funding.
The round was led by AutoNation, with participation from funds and accounts advised by T. Rowe Price Associates, Inc., L Catterton, General Catalyst Partners, Fraser McCombs Capital and individual investors.
The company intends to use the funds to enhance key technologies and processes, expand customer acquisition efforts and continue to build the management team. Recent hires include:
– Chief Financial Officer Dave Jones;
– Chief Supply Chain Officer Dennis Looney; and
Chief Technology Officer Mitch Berg.
Led by CEO Paul Hennessy, Vroom is a national online auto retailer, offering thousands of low-mileage, reconditioned vehicles with delivery directly to consumers. Its private-seller acquisition model allows customers to receive cash offers in minutes, with free pickup of their vehicles at their homes. The company’s end-to-end experience also includes financing and warranty and insurance products.
Vroom also operates the Texas Direct Auto brand.