About CarLotz
CarLotz is a company based in Charlotte (United States) founded in 2011 was acquired by Shift Technologies in August 2022.. CarLotz has raised $37.03 million across 4 funding rounds from investors including Shift Technologies and TRP Fund. The company has 403 employees as of December 31, 2022. CarLotz operates in a competitive market with competitors including ACV Auctions, Copart, Droom, Rollick and Openlane, among others.
- Headquarter Charlotte, United States
- Employees 403 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 Carlotz, Inc.
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Annual Revenue
$258.53 M118as on Dec 31, 2021
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Net Profit
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EBITDA
$3.36 M886as on Dec 31, 2021
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Total Equity Funding
$37.03 M (USD)
in 4 rounds
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Latest Funding Round
$30 M (USD), Series B
Oct 13, 2017
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Investors
Shift Technologies
& 1 more
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Employee Count
403
as on Dec 31, 2022
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Acquired by
Shift Technologies
(Aug 09, 2022)
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Funding Insights of CarLotz
CarLotz has successfully raised a total of $37.03M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $30 million completed in October 2017. 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 4
- Last Round Series B — $30.0M
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First Round
First Round
(14 Apr 2011)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2017 | Amount | Series B - CarLotz | Valuation |
investors |
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| Aug, 2014 | Amount | Series B - CarLotz | Valuation |
investors |
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| Mar, 2012 | Amount | Seed - CarLotz | Valuation |
investors |
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| 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 CarLotz
CarLotz has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include Shift Technologies and TRP Fund. 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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Private equity investments in North America are managed by TRP.
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Founded Year | Domain | Location | |
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Software solutions for digital workspace management are provided.
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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 CarLotz
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
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 - CarLotz
| 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 |
Carlotz Comparisons
Competitors of CarLotz
CarLotz 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 ACV Auctions, Copart, Droom, Rollick and Openlane, 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 |
B2B online auctions for car dealers' inventory are facilitated.
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| domain | founded_year | HQ Location |
Used and salvaged vehicles are offered via an online marketplace.
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| domain | founded_year | HQ Location |
Used vehicles are bought and sold through an AI platform.
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| domain | founded_year | HQ Location |
Omnichannel marketing automation is provided to automotive OEMs and dealers.
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| domain | founded_year | HQ Location |
Wholesale used vehicles are auctioned online for dealers.
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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 Carlotz
Frequently Asked Questions about CarLotz
When was CarLotz founded?
CarLotz was founded in 2011.
Where is CarLotz located?
CarLotz is headquartered in Charlotte, United States. It is registered at Charlotte, North Carolina, United States.
Is CarLotz a funded company?
CarLotz is a funded company, having raised a total of $37.03M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1.5M, raised on Apr 14, 2011.
How many employees does CarLotz have?
As of Dec 31, 2022, the latest employee count at CarLotz is 403.
What is the annual revenue of CarLotz?
Annual revenue of CarLotz is $258.53M as on Dec 31, 2021.
What does CarLotz do?
Founded in 2011 and headquartered in Charlotte, United States, CarLotz operates in the automotive sector as an online peer-to-peer platform for consignment-based used car trading. Vehicles are consigned by sellers, with buyers sourced privately for a flat fee, eliminating traditional coordination needs. Additional services such as financing and warranties are provided to facilitate transactions.
Who are the top competitors of CarLotz?
CarLotz's top competitors include ACV Auctions, Droom and Copart.
Who are CarLotz's investors?
CarLotz has 2 investors. Key investors include Shift Technologies, and TRP Fund.
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