Online used car startup Vroom raises $254M to scale product and engineering hub • Upward Tech Solutions (ITAD SOLUTIONS)
Summary
Vroom has raised $254 million in a Series H round to scale its business and expand its product and engineering hub in Detroit. The company plans to use the capital to hire more employees, especially in product and engineering roles. Vroom operates an e-commerce platform for buying and selling used vehicles and provides services such as trade-in appraisals, financing, and home delivery. The round adds to the company’s existing funding history and supports continued growth in a capital-intensive market.
Funding
Amount
$254.0M
Total raised
Date
December 11, 2018
Announcement date
Investors
L Catterton, PitchBook Data
Lead investors
Company
vroom.com
Funded company
Classifications
industries
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applications
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