ACV's $150M Funding Round Will Go to Tech, Data Products

ACV Auctions has secured $150 million in Series E Funding, the company announced.

The new capital will allow ACV Auctions to further its investment in technology and data driven solutions that will help dealerships source and sell used vehicles, the company added.

The company will also use this capital to expand its footprint across North America and to grow the ACV Auctions’ team.

The investment was led by Wellington Management Company and Fidelity Management & Research Co., as well as existing investors such as Bain Capital Ventures, Bessemer Venture Partners and Tribeca Venture Partners.

Originally posted on Vehicle Remarketing