About Openlane
Openlane is a company based in Redwood City (United States) founded in 1999 was acquired by KAR Global in August 2011.. Openlane has raised $35 million across 3 funding rounds from investors including Apax Partners, Periphas Capital and Meritech Capital. The company has 4,800 employees as of December 31, 2024. Openlane has completed 1 acquisition, including Recovery Database Network. Openlane offers products and services including Auction Platform, Marketplace Listings, and Condition Reports. Openlane operates in a competitive market with competitors including ACV Auctions, CarLotz, Droom, Copart and Insurance Auto Auctions, among others.
- Headquarter Redwood City, United States
- Employees 4800 as on 31 Dec, 2024
- Stage Public
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Sectors
Transportation, Automotive & LogisticsRetail Business Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Openlane, Inc.
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Annual Revenue
$1.79 B5.47as on Dec 31, 2024
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Net Profit
$93.6 M160.74as on Dec 31, 2024
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EBITDA
$381.5 M7.25as on Dec 31, 2024
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Total Equity Funding
$35 M (USD)
in 3 rounds
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Latest Funding Round
$550 M (USD), Post-IPO
May 26, 2020
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Investors
Apax Partners
& 5 more
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Employee Count
4800
as on Dec 31, 2024
- Investments & Acquisitions
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Acquired by
KAR Global
(Aug 15, 2011)
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IPO & Listings of Openlane
Openlane is a publicly listed company on the NYSE with ticker symbol KAR in USA, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Openlane
Openlane offers a comprehensive portfolio of products and services, including Auction Platform, Marketplace Listings, and Condition Reports. 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.
System for bidding on wholesale used vehicles through scheduled auctions
Service for listing and selling used vehicles online to buyers
Reports providing detailed vehicle inspections for informed purchasing
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Funding Insights of Openlane
Openlane has successfully raised a total of $35M across 3 strategic funding rounds. The most recent funding activity was a Post-IPO round of $550 million completed in May 2020. 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 3
- Last Round Post-IPO — $550.0M
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First Round
First Round
(01 Jun 2008)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2020 | Amount | Post-IPO - Openlane | Valuation |
investors |
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| Dec, 2008 | Amount | Series B - Openlane | Valuation |
investors |
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| Jun, 2008 | Amount | Series B - Openlane | Valuation | Meritech |
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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 Openlane
Openlane has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include Apax Partners, Periphas Capital and Meritech Capital. 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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Venture capital fund investing in multiple sectors
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Founded Year | Domain | Location | |
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Equity investments are focused on tech, services, and consumer sectors.
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Founded Year | Domain | Location | |
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Private equity investments are directed toward US-based companies.
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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 Openlane
Openlane has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Recovery Database Network. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Software and data solutions for recovering auto finance assets
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1999 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Openlane
| 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 |
Openlane Comparisons
Competitors of Openlane
Openlane 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, CarLotz, Droom, Copart and Insurance Auto Auctions, 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 cars are traded via an online consignment platform.
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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 |
Used and salvaged vehicles are offered via an online marketplace.
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| domain | founded_year | HQ Location |
Used cars are auctioned via an app-based B2C marketplace.
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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 Openlane
Frequently Asked Questions about Openlane
When was Openlane founded?
Openlane was founded in 1999 and raised its 1st funding round 9 years after it was founded.
Where is Openlane located?
Openlane is headquartered in Redwood City, United States. It is registered at Redwood City, California, United States.
Who is the current CEO of Openlane?
Peter Kelly is the current CEO of Openlane.
Is Openlane a funded company?
Openlane is a funded company, having raised a total of $35M across 3 funding rounds to date. The company's 1st funding round was a Series B of $25M, raised on Jun 01, 2008.
How many employees does Openlane have?
As of Dec 31, 2024, the latest employee count at Openlane is 4,800.
What is the annual revenue of Openlane?
Annual revenue of Openlane is $1.79B as on Dec 31, 2024.
What does Openlane do?
Openlane was founded in 1999 and is headquartered in Redwood City, United States. An online platform is operated for the wholesale buying and selling of used vehicles within the automotive sector. A mobile app is provided to enable car dealers to initiate and join live auctions. Auction and remarketing services are facilitated across offline, online, digital, and mobile marketplaces.
Who are the top competitors of Openlane?
Openlane's top competitors include CarLotz, ACV Auctions and Droom.
What products or services does Openlane offer?
Openlane offers Auction Platform, Marketplace Listings, and Condition Reports.
Is Openlane publicly traded?
Yes, Openlane is publicly traded on NYSE under the ticker symbol KAR.
How many acquisitions has Openlane made?
Openlane has made 1 acquisition, including Recovery Database Network.
Who are Openlane's investors?
Openlane has 6 investors. Key investors include Apax Partners, Periphas Capital, Meritech Capital, August Capital, and RPM Ventures.
What is Openlane's ticker symbol?
The ticker symbol of Openlane is KAR on NYSE.
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