About BacklotCars
BacklotCars is a company based in New York (United States) founded in 2014 was acquired by KAR Global in September 2020.. BacklotCars has raised $33 million across 6 funding rounds from investors including Origin Ventures, Pritzker Group and Revolution. The company has 1 employees as of December 31, 2022. BacklotCars offers products and services including Wholesale Vehicle Platform. BacklotCars operates in a competitive market with competitors including AutoNation, Xcite Automotive, Signal Automotive, Larry H. Miller Dealerships and Driveway, among others.
- Headquarter New York, United States
- Employees 1 as on 31 Dec, 2022
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Backlotcars, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$33 M (USD)
in 6 rounds
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Latest Funding Round
$25 M (USD), Series B
Apr 15, 2019
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Investors
Origin Ventures
& 8 more
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Employee Count
1
as on Dec 31, 2022
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Acquired by
KAR Global
(Sep 10, 2020)
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Products & Services of BacklotCars
BacklotCars offers a comprehensive portfolio of products and services, including Wholesale Vehicle Platform. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Online system for buying and selling wholesale vehicles through a user interface.
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Market Team
21 people
Leadership Team
11 people
Sales and Marketing
10 people
Product Management Team
8 people
Operations Team
7 people
Senior Team
6 people
Account Team
4 people
Software Development Team
3 people
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Funding Insights of BacklotCars
BacklotCars has successfully raised a total of $33M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $25 million completed in April 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series B — $25.0M
- First Round First Round
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2019 | Amount | Series B - BacklotCars | Valuation | Stripes | |
| Dec, 2018 | Amount | Debt – Conventional - BacklotCars | Valuation |
investors |
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| Jun, 2018 | Amount | Series A - BacklotCars | Valuation | Origin Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in BacklotCars
BacklotCars has secured backing from 9 investors, including venture fund and institutional investors. Prominent investors backing the company include Origin Ventures, Pritzker Group and Revolution. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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VC firm investing in the US
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Founded Year | Domain | Location | |
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Investments in SaaS, marketplace, and middle market companies are managed.
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Founded Year | Domain | Location | |
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Revolution is recognized as a D.C.-based investment firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by BacklotCars
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - BacklotCars
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Backlotcars Comparisons
Competitors of BacklotCars
BacklotCars operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as AutoNation, Xcite Automotive, Signal Automotive, Larry H. Miller Dealerships and Driveway, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
New and used vehicles are offered online by AutoNation.
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| domain | founded_year | HQ Location |
Provider of a suite of management solutions for automotive dealerships
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| domain | founded_year | HQ Location |
Dealer of cars
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| domain | founded_year | HQ Location |
Online dealer of new vehicles
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| domain | founded_year | HQ Location |
New and used cars are purchased via an online platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Backlotcars
Frequently Asked Questions about BacklotCars
When was BacklotCars founded?
BacklotCars was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is BacklotCars located?
BacklotCars is headquartered in New York, United States. It is registered at New York, New York, United States.
Is BacklotCars a funded company?
BacklotCars is a funded company, having raised a total of $33M across 6 funding rounds to date. The company's 1st funding round was a Series A of $8M, raised on May 12, 2015.
How many employees does BacklotCars have?
As of Dec 31, 2022, the latest employee count at BacklotCars is 1.
What does BacklotCars do?
BacklotCars is a B2B new car marketplace platform. Through BacklotCars, automotive dealerships can network with other dealerships and manage their inventories without the cost of the auction. It also provides paid inspection services to buyers and charges a fixed subscription fee for sellers.
Who are the top competitors of BacklotCars?
BacklotCars's top competitors include AutoNation, Larry H. Miller Dealerships and Hammer Price.
What products or services does BacklotCars offer?
BacklotCars offers Wholesale Vehicle Platform.
Who are BacklotCars's investors?
BacklotCars has 9 investors. Key investors include Origin Ventures, Pritzker Group, Revolution, Chaifetz Group, and Royal Street VC.