Thursday, December 17, 2015

Vroom Raises $95M, Buys Texas Auto Direct To Boost Used Car Sales Online

Vroom, an online used car sales startup based in New York, said Wednesday that it has raised $95M in a funding round, and acquired Texas Auto Direct. Financial terms of the buy were not announced. As a result of the acquisition, Vroom now has facilities in both Dallas and Houston. Vroom acquires used vehicles, and then fixes up and reconditions those cars through its own inspection system, before putting them up for sale. Texas Auto Direct develops software to manage the sale of reconditioning and fixing up used autos before the sale.