About CarLotz
CarLotz is a Transportation, Automotive & Logistics company based in Charlotte (United States) founded in 2011, and was acquired by Shift Technologies in August 2022. Used cars are traded via an online consignment platform. CarLotz has raised $37.03 million across 4 funding rounds from investors including Shift Technologies and TRP Fund. The company has 403 employees. Its focus areas include Auto, Auto Retail & Aftersales, Dealership and Diversified. Its legal entity is CARLOTZ, INC. Its competitors include ACV Auctions, Copart and Rollick; 2 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters Charlotte, United States
- Employees 403
- Stage Acquired
- SectorsTransportation, Automotive & Logistics
- Website carlotz.com
- Social LinkedIn X Facebook
- Acquired by Shift Technologies (Aug 2022)
- Legal Name Carlotz, Inc.
- Annual Revenue$258.53 M (USD)118as on Dec 31, 2021
- EBITDA$3.36 M (USD)886as on Dec 31, 2021
- Total Equity Funding$37.03M (USD)
in 4 rounds
- Latest Funding Round$30M (USD), Series B
Oct 2017
- InvestorsShift Technologies
& 1 more
- Employee Count403
- Acquired byShift Technologies
(Aug 2022)
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 $37.03M
- Total Rounds 4
- Last Round Series B — $30M
- First Round $525,000
(Apr 2011)
- Investors Count 1
All 4 funding rounds of CarLotz with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2017 | $30M | Series B | – | – | |
| Aug 2014 | $5M | Series B | – | – | – |
| Mar 2012 | $1.5M | Seed | – | – | – |
| Apr 2011 | $525,000 | Seed | – | – | – |
2 investors in total: 2 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity investments in North America are managed by TRP. | trpfund.com | Michigan, United States | ||
Software solutions for digital workspace management are provided. | 2013 | shift.com | San Francisco, United States |
Investor details for CarLotz
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People of CarLotz
11 people are tracked at CarLotz (3 in leadership, 8 in team); the tracked headcount is 403.
| Name | Role | Group |
|---|---|---|
Dan Valerian | CTO | Leadership |
Alison Parrish | Director Of Talent | Leadership |
Michael Bor | Founder & CEO | Leadership |
Elizabeth Sanders | Unknown Role | Team |
Garrett McClung | Senior Software Engineer | Team |
Hanna Dawit | Quality Assurance Engineer | Team |
Allison Fryar | Senior Manager, Finance | Team |
Erik Reiss | Staff Accountant | Team |
Kenya Gray | Learning And DEI Specialist | Team |
Briana Looney | Auction Coordinator | Team |
Supriya A | Senior Devops Engineer | Team |
Complete people profiles for CarLotz
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Timeline of CarLotz
4 dated milestones of CarLotz across 11 years, from founding to its latest funding, stage changes and deals.
- Founded CarLotz is founded.
- Funding First funding round of $525K.
- Funding Latest funding round, Series B, of $30.0M.
- Exit Acquired by Shift Technologies.
Competitors of CarLotz
CarLotz has 3 listed competitors in our database, 2 of them funded. They include ACV Auctions, Copart and Rollick.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| acvauctions.com | 2014 | Buffalo, United States | $350M | 1,674 | B2B online auctions for car dealers' inventory are facilitated. | |
| copart.com | 1982 | Dallas, United States | 10,200 | Used and salvaged vehicles are offered via an online marketplace. | ||
| rollick.io | 2017 | Austin, United States | $5.6M | 89 | Omnichannel marketing automation is provided to automotive OEMs and dealers. |
Detailed competitors of CarLotz
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Web traffic of CarLotz
Websites that share an audience with CarLotz (carlotz.com).
Websites whose visitors overlap most with CarLotz. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| enterprisecarsales.com | 100% | #31,997 | View details | ||
hymanbrosauto.com | hymanbrosauto.com | 99% | #2,285,841 | – | |
haleycertified.com | haleycertified.com | 96% | #2,764,595 | – | |
| autotrader.com | 87% | 29.5M | View details | ||
bobrossauto.com | bobrossauto.com | 76% | #8,419,066 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 12 similar websites and full traffic analytics for CarLotz
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- Audience overlap
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Related news about Carlotz
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Frequently Asked Questions about CarLotz
CarLotz was founded in 2011.
CarLotz is headquartered in Charlotte, United States. It is registered at Charlotte, North Carolina, United States.
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 $525K, raised on Apr 2011.
CarLotz has 403 employees.
Annual revenue of CarLotz is $258.53M as on Dec 31, 2021.
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.
CarLotz's top competitors include ACV Auctions, Copart and Rollick.
CarLotz has 2 investors. Key investors include Shift Technologies, and TRP Fund.
CarLotz operates through Carlotz, Inc..
Yes. CarLotz was acquired by Shift Technologies in August 2022.