Vroom, Inc.

Vroom, Inc. operates as an online platform for buying and selling used vehicles, transforming the automotive retail experience through innovative technology and comprehensive services across the United States. Vroom, Inc. was founded in 2013 and is headquartered in New York, US.

The company specializes in facilitating online transactions for used vehicles. The founders include Amir Bilson, Domenic Wiegand, Erin Guan, Isabel Sun, among others. Vroom has raised a total of USD 588. 60 mn through funding rounds, with the most recent deal occurring on September 10, 2020, during a Private Placement/Follow on.

The company has executed 11 deals to date. Vroom specializes in the online retail of used vehicles, providing a digital platform that connects car buyers and sellers throughout the United States. Customers can browse a vast inventory of over 4 million vehicles, simplifying the buying process. Additionally, Vroom's subsidiaries, United Auto Credit Corporation (UACC) and CarStory, provide financing solutions and data analytics services, catering to individual consumers, dealerships, and automotive partners in the continental United States.

In the most recent fiscal year of 2024, Vroom reported a revenue of USD 201. 83 mn, while the EBITDA was reported as USD -248. 11 mn for 2023. Revenue is generated through direct-to-consumer vehicle sales and financing services facilitated by UACC, creating an integrated ecosystem that supports both automotive sales and financial solutions.

Vroom plans to expand its services by launching new features and products aimed at enhancing the online vehicle purchasing experience. The company is also targeting geographic expansion into new markets across the US to increase its reach by 2025. The recent funding raised through a Private Placement on September 10, 2020, will support these initiatives, allowing Vroom to invest in technology, marketing, and infrastructure to facilitate its growth strategy.