Drivably

Drivably, Inc.Founded in 2018 and headquartered in Chandler, US, Drivably, Inc. is dedicated to connecting automotive dealerships with consumers through a streamlined vehicle trade-in process. The company has made three notable deals, with the most recent transaction occurring on February 21, 2022, when ACV Auctions, Inc. acquired Drivably, Inc.Drivably primarily offers a modern Trade-in Tool designed to facilitate vehicle trade-ins for automotive dealerships. This tool connects dealers directly with consumers, providing real-time, market-backed trade-in prices within a minute. It operates by employing a concise yet comprehensive set of vehicle condition questions that enable consumers to receive accurate and condition-adjusted valuations. Drivably's Trade-in Tool is highly customizable, allowing dealerships to integrate it seamlessly into their existing website and branding guidelines.Drivably generates revenue through the licensing of its Trade-in Tool to automotive dealerships, which can be structured as a subscription service or partnership model. By integrating the Trade-in Tool into their websites, dealerships can provide consumers with instant estimates for vehicle sales or trade-ins, enhancing their service offerings. The transactions typically involve dealerships paying a fee for access to the platform, which then allows them to offer consumers real-time pricing information based on market data.Following its acquisition by ACV Auctions, Inc. in February 2022, Drivably, Inc. is set to leverage this partnership to enhance its product offerings. Plans to expand into additional North American markets are underway, focusing on regions with high automotive activity. The resources from the acquisition will be utilized to support these growth initiatives, allowing Drivably to enhance its technology and expand its reach within the automotive sector.

1. Seed

   Apr 2, 2020

   Amount

   Undisclosed

   Investors

   Locked