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
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- Legal Name Openlane, Inc.
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Annual Revenue
$1.79 B (USD)5.47as on Dec 31, 2024
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Net Profit
$93.6 M (USD)160.74as on Dec 31, 2024
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EBITDA
$381.5 M (USD)7.25as 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.
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
People of Openlane
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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.
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.
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Venture capital fund investing in multiple sectors
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Equity investments are focused on tech, services, and consumer sectors.
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Private equity investments are directed toward US-based companies.
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Investor details 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.
Investment portfolio details for Openlane
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| 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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Complete acquisition details for Openlane
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Financial Statements - Openlane
Detailed financials for Openlane
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Openlane Comparisons
Peer comparison for Openlane
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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.
| Company Name | Domain | Founded year | HQ Location | Description |
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B2B online auctions for car dealers' inventory are facilitated.
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Used cars are traded via an online consignment platform.
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Used vehicles are bought and sold through an AI platform.
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Used and salvaged vehicles are offered via an online marketplace.
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Used cars are auctioned via an app-based B2C marketplace.
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Detailed competitors of Openlane
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Latest news on Openlane
Complete news archive for 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 current CEO of Openlane.
Openlane is a funded company, having raised a total of $35M across 3 funding rounds to date.
As of Dec 31, 2024, the latest employee count at Openlane is 4,800.
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 Droom.
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.
The ticker symbol of Openlane is KAR on NYSE.