About Openlane
Openlane is a publicly listed company based in Redwood City (United States) founded in 1999, and was acquired by KAR Global in August 2011. Wholesale used vehicles are auctioned online for dealers. It operates in the Transportation, Automotive & Logistics, Retail, and Business Services sectors. 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. Openlane has completed 1 acquisition, including Recovery Database Network. Its chief executive, as recorded, is Peter Kelly. Its website openlane.com draws about 422 thousand monthly visits. Openlane offers products and services including Auction Platform, Marketplace Listings, and Condition Reports. Its focus areas include Consumer, Auto E-Commerce & Content, Second Hand Vehicles and Cars. Its competitors include ACV Auctions, CarLotz and Copart; 2 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters Redwood City, United States
- Employees 4,800
- Stage Acquired
- SectorsTransportation, Automotive & LogisticsRetail Business Services
- Website category Vehicles
- Email••••••••
- Phone•••• ••••
- Website openlane.com
- Social LinkedIn X Facebook
- Acquired by KAR Global (Aug 2011)
- Legal Name Openlane, Inc.
- Annual Revenue$1.79 B (USD)5.47as on Dec 31, 2024
- Net Profit$93.6 M (USD)160.74as on Dec 31, 2024
- EBITDA$381.5 M (USD)7.25as on Dec 31, 2024
- Total Equity Funding$35M (USD)
in 3 rounds
- Latest Funding Round$550M (USD), Post-IPO
May 2020
- InvestorsApax Partners
& 5 more
- Employee Count4,800
- Investments & Acquisitions
- Acquired byKAR Global
(Aug 2011)
Products & Services of Openlane
Openlane offers a comprehensive portfolio of products and services, including Auction Platform, Marketplace Listings, and Condition Reports.
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
Apps and channels of Openlane
Openlane publishes 2 mobile apps with over 10K+ downloads.
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 $35M
- Total Rounds 3
- Last Round Post-IPO — $550M
- First Round $25M
(Jun 2008)
- Investors Count 5
All 3 funding rounds of Openlane 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 |
|---|---|---|---|---|---|
| May 2020 | $550M | Post-IPO | – | – | |
| Dec 2008 | $10M | Series B | – | – | |
| Jun 2008 | $25M | Series B | – | Meritech | – |
6 investors in total: 6 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund investing in multiple sectors | 2017 | periphascapital.com | New York, United States | |
Equity investments are focused on tech, services, and consumer sectors. | 1981 | apax.com | Hong Kong, China | |
Private equity investments are directed toward US-based companies. | meritechcapital.com | Palo Alto, United States | ||
Venture capital is invested personally in fewer enterprises, with support provided for building game-changing businesses. | augustcap.com | |||
Seed & early stage VC firm investing in the US | rpmvc.com | Ann Arbor, United States | ||
OPENLANE is recognized for building digital marketplaces for used vehicles. | karglobal.com | Carmel, United States |
Investor details for Openlane
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People of Openlane
14 people are tracked at Openlane (6 in leadership, 8 in team); the tracked headcount is 4,800.
| Name | Role | Group |
|---|---|---|
Peter Kelly | Chief Executive Officer | Leadership |
Kevin Shanahan | Director Of Finance | Leadership |
Fabricio Solanes | CTO | Leadership |
Adam Lanane | Director, Inside Sales | Leadership |
Marvin Paysen | General Manager Market | Leadership |
Nicole Patrick | Director Of Titles Operations | Leadership |
Casey Morgan | Product Manager | Team |
Emiliano Barcia Lizarazu | Senior Ios Developer | Team |
Jaime Gómez | Android Tech Lead | Team |
Raúl Pérez-Alejo Neyra | Senior Software Developer | Team |
Jonathon Nordquist | Software Engineer | Team |
Kaiela Galdon | Market Sales Manager | Team |
Kelli Baker | Market Sales Manager | Team |
Trevor Riley | Key Account Executive | Team |
Complete people profiles for Openlane
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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.
- IPO date11 Dec 2009
- Listed onNYSE: KAR
- Listed entityOPENLANE, Inc.
- Exchange sectorTechnology services
- ISINUS48238T1097
- Share price$30.88 (+0.36% on the day) · 2025-12-26
- Market capitalisation$3.28B
- Price to earnings35.2
- EPS (diluted, trailing year)$0.88
- Volume (last session)311,172
- Analyst consensusBuy
Financials of Openlane
| Year | Revenue | Net income | EBITDA |
|---|---|---|---|
| 2024 | $1.79B | $93.6M | $381.5M |
| 2023 | $1.70B | -$154.1M | $355.7M |
| 2022 | $1.52B | -$277.0M | $241.2M |
| 2021 | $1.45B | $75.5M | $244.5M |
| 2020 | $2.19B | $500,000 | $343.3M |
Detailed financial statements for Openlane
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Investments & Acquisitions by Openlane
Openlane has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Recovery Database Network.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Software and data solutions for recovering auto finance assets | recoverydatabase.net | Mesa, United States | 1999 | Aug 2010 | •••• |
Complete acquisition details for Openlane
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Timeline of Openlane
6 dated milestones of Openlane across 21 years, from founding to its latest funding, stage changes and deals.
- Founded Openlane is founded.
- Funding First funding round of $25.0M.
- IPO Lists on the stock exchange (IPO).
- Acquisition Acquires Recovery Database Network.
- Exit Acquired by KAR Global.
- Funding Latest funding round, Post-IPO, of $550.0M.
Competitors of Openlane
Openlane has 3 listed competitors in our database, 2 of them funded. They include ACV Auctions, CarLotz and Copart.
| 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. | |
| carlotz.com | 2011 | Charlotte, United States | $37.03M | 403 | Used cars are traded via an online consignment platform. | |
| copart.com | 1982 | Dallas, United States | 10,200 | Used and salvaged vehicles are offered via an online marketplace. |
Detailed competitors of Openlane
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Web traffic of Openlane
The website of Openlane (openlane.com) receives about 421.6K visits a month and ranks #84,071 among all websites worldwide, #1,668 in Vehicles.
- Monthly visits421.6K
▼ 15.2% vs previous month
- Unique visitors104.8K
per month
- Global rank#84,071
among all websites
- Category rank#1,668
Vehicles · Vehicles
- Bounce rate33%
- Pages per visit5.9
- Average visit5 min 54 sec
- DevicesDesktop 52% · Mobile 48%
Websites whose visitors overlap most with Openlane. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| acvauctions.com | 100% | 604.9K | #51,667 | View details | |
carmaxauctions.com | carmaxauctions.com | 94% | #143,763 | – | |
car-part.com | car-part.com | 90% | #10,772 | – | |
| nextgearcapital.com | 85% | 109.4K | #153,292 | View details | |
carfaxonline.com | carfaxonline.com | 84% | #63,255 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Openlane
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Related news about Openlane
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Frequently Asked Questions about Openlane
Openlane was founded in 1999 and raised its 1st funding round 9 years after it was founded.
Openlane is headquartered in Redwood City, United States. It is registered at Redwood City, California, United States.
Peter Kelly is the CEO of Openlane, as recorded in our data.
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 2008.
Openlane has 4,800 employees.
Annual revenue of Openlane is $1.79B as on Dec 31, 2024.
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.
Openlane's top competitors include CarLotz, ACV Auctions and Copart.
Openlane offers Auction Platform, Marketplace Listings, and Condition Reports.
Yes, Openlane is publicly traded on NYSE under the ticker symbol KAR.
Openlane has made 1 acquisition, including Recovery Database Network.
Openlane has 6 investors. Key investors include Apax Partners, Periphas Capital, Meritech Capital, August Capital, and RPM Ventures.