About Insurance Auto Auctions
Insurance Auto Auctions is a Transportation, Automotive & Logistics company based in United States founded in 1982, and was acquired by Ritchie Bros in November 2022. Used cars are auctioned via an app-based B2C marketplace. Insurance Auto Auctions has completed 4 acquisitions, including Auto Exchange, DDI Technology and SYNETIQ. Its website iaai.com draws about 7.1 million monthly visits. Its focus areas include Consumer, Auto E-Commerce & Content, Second Hand Vehicles and Cars. Its competitors include Carvana, CarGurus and CarLotz; 3 of its 3 listed competitors have raised funding.
Company details
App-based B2C auction-based marketplace for used cars. It provides auction services on a hybrid model that combines live, internet, and proxy bidding. The company owns auction facilities that deal with towing, recovered theft, lease fleet, dealer trade-in, collision damage, and rental vehicles. It organizes hybrid auctions for insurance companies, fleet and rental companies, financing companies, charity organizations, and the general public. Their app is available for iOS and Android devices.
- Headquarters Westchester, United States
- Stage Acquired
- SectorsTransportation, Automotive & Logistics
- Website category Vehicles · Automotive Industry
- Email••••••••
- Phone•••• ••••
- Website iaai.com
- Social LinkedIn X Facebook
- Acquired by Ritchie Bros (Nov 2022)
- Annual Revenue$2.1 B (USD)14as on Dec 31, 2022
- EBITDA$105.6 M (USD)22as on Dec 31, 2022
- InvestorsRitchie Bros
& 3 more
- Investments & AcquisitionsAuto Exchange
& 3 more
- Acquired by
Funding Insights of Insurance Auto Auctions
- Total Rounds 2
- Investors Count 2
All 2 funding rounds of Insurance Auto Auctions 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 |
|---|---|---|---|---|---|
| Feb 2016 | Private Equity Round | – | – | ||
| Apr 2007 | Private Equity Round | – | – |
4 investors in total: 4 institutional.
Investors in Insurance Auto Auctions
Insurance Auto Auctions has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Ritchie Bros, CP Kelco and ValueAct Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity investment firm based out of USA | valueact.com | San Francisco, United States | ||
Multiple sectors are invested in by this private equity fund. | parthenoncapital.com | Boston, United States | ||
Heavy machinery is auctioned via an online marketplace platform. | 1958 | rbauction.com | Valley Falls, United States | |
Nature-based hydrocolloid ingredients are supplied for pharmaceutical applications. | 1929 | cpkelco.com | Atlanta, United States |
Investor details for Insurance Auto Auctions
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People of Insurance Auto Auctions
131 people are tracked at Insurance Auto Auctions (11 in leadership, 7 in board & advisors, 113 in team).
| Name | Role | Group |
|---|---|---|
Millicent McIntyre | Senior Director, Buyer Services | Leadership |
Tammy Bacogiannis | Director Sales Analytics | Leadership |
Kristen Brothers | Director, Sales Operations, Enablement & Support | Leadership |
Michelle Casper | Vice President Transportation & Logistics | Leadership |
Robert Brown | Director, Customer Strategy And Operations | Leadership |
Carter Theissen | Sr. Director Customer Strategy & Operations | Leadership |
Murali Venugopalan | Senior Director Application Development | Leadership |
Mohsin Ghaznavi | Vice President Operations, Regional Vice President - Midwest | Leadership |
Adrienne Pierre | Vice President Procurement | Leadership |
Tobin Lunsford | Strategic Account Director | Leadership |
Troy Edwards | Director Of Logistics And Buyer Development | Leadership |
Holt Renfrew | Director | Board & advisors |
William Breslin | Director | Board & advisors |
Olaf Kastner | Director | Board & advisors |
Brian Bales | Director | Board & advisors |
Lynn Jolliffe | Director | Board & advisors |
Peter H. Kamin | Director | Board & advisors |
Michael Sieger | Director | Board & advisors |
Steven Lista | Sales Manager | Team |
Andrew Darling | Support Analyst | Team |
111 more people are available in the full profile.
Complete people profiles for Insurance Auto Auctions
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Investments & Acquisitions by Insurance Auto Auctions
Insurance Auto Auctions has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Auto Exchange, DDI Technology and SYNETIQ.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Provider of car accessories | synetiq.co.uk | Doncaster, United Kingdom | 2019 | Oct 2021 | $310.61M | |
Services for salvage vehicle auctions and recovery are provided. | autoexchangenj.com | Sayreville, United States | 1979 | Jun 2021 | •••• | |
Integrated vehicle registration & titling solution for auto dealerships | dditechnology.com | Lexington, United States | 1998 | Jul 2019 | $17M | |
Operations in the automotive industry are managed by Verastar. | verastar.com | Winder, United States | 2001 | Feb 2008 | •••• |
Complete acquisition details for Insurance Auto Auctions
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- Acquired stakes
- Deal sources
- Complete history
- Exports
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Timeline of Insurance Auto Auctions
10 dated milestones of Insurance Auto Auctions across 40 years, from founding to its latest funding, stage changes and deals.
- Founded Insurance Auto Auctions is founded.
- Exit Acquired by CP Kelco.
- Funding First funding round.
- Acquisition Acquires Verastar.
- Funding Latest funding round, Private Equity Round,.
- IPO Lists on the stock exchange (IPO).
- Acquisition Acquires DDI Technology.
- Acquisition Acquires Auto Exchange.
- Acquisition Acquires SYNETIQ.
- Exit Acquired by Ritchie Bros.
Competitors of Insurance Auto Auctions
Insurance Auto Auctions has 3 listed competitors in our database, 3 of them funded. They include Carvana, CarGurus and CarLotz.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| carvana.com | 2012 | Phoenix, United States | $460M | 37,296 | Pre-owned vehicles are sold online with financing and valuation services. | |
| cargurus.com | 2006 | Cambridge, United States | $1.75M | 843 | Automotive vehicle listings are managed via an app-based platform. | |
| carlotz.com | 2011 | Charlotte, United States | $37.03M | 403 | Used cars are traded via an online consignment platform. |
Detailed competitors of Insurance Auto Auctions
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- Full competitor set
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Web traffic of Insurance Auto Auctions
The website of Insurance Auto Auctions (iaai.com) receives about 7.1M visits a month and ranks #5,048 among all websites worldwide, #74 in Automotive Industry.
- Monthly visits7.1M
▲ 6.9% vs previous month
- Unique visitors1.1M
per month
- Global rank#5,048
among all websites
- Category rank#74
Vehicles · Automotive Industry
- Bounce rate24%
- Pages per visit12.5
- Average visit9 min 32 sec
- DevicesDesktop 49% · Mobile 51%
Websites whose visitors overlap most with Insurance Auto Auctions. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| copart.com | 100% | 12.2M | #2,830 | View details | |
| autobidmaster.com | 72% | #31,296 | View details | ||
sca.auction | sca.auction | 68% | #42,742 | – | |
| manheim.com | 66% | #13,584 | View details | ||
| bid.cars | 60% | #9,067 | View details | ||
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Insurance Auto Auctions
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Related news about Insurance Auto Auctions
Complete news archive for Insurance Auto Auctions
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Frequently Asked Questions about Insurance Auto Auctions
Insurance Auto Auctions was founded in 1982 and raised its 1st funding round 25 years after it was founded.
Insurance Auto Auctions is headquartered in United States. It is registered at New York, United States.
Annual revenue of Insurance Auto Auctions is $2.1B as on Dec 31, 2022.
App-based B2C auction-based marketplace for used cars. It provides auction services on a hybrid model that combines live, internet, and proxy bidding. The company owns auction facilities that deal with towing, recovered theft, lease fleet, dealer trade-in, collision damage, and rental vehicles. It organizes hybrid auctions for insurance companies, fleet and rental companies, financing companies, charity organizations, and the general public. Their app is available for iOS and Android devices.
Insurance Auto Auctions has made 4 acquisitions, including Auto Exchange, DDI Technology, and SYNETIQ.
Insurance Auto Auctions has 4 investors. Key investors include Ritchie Bros, CP Kelco, ValueAct Capital, and Parthenon Capital.
Yes. Insurance Auto Auctions was acquired by Ritchie Bros in November 2022.
The website of Insurance Auto Auctions receives about 7.1 million visits a month and ranks #5,048 among all websites worldwide.