# Drivably

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/drivably

- Industry: Software
- Headquarters: Chandler, US
- Website: www.drivably.com
- Latest round: Seed (Apr 2, 2020)
- Investors on record: 2

## About

Drivably, Inc. specializes in providing a modern Trade-in Tool that facilitates seamless vehicle trade-ins for automotive dealerships, enhancing consumer experiences and optimizing dealership inventory management.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. from Porsche Ventures and Streamlined Ventures for an undisclosed amount.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. By targeting automotive dealerships in North America, particularly in regions with high vehicle exchange activity, Drivably aims to enhance the consumer experience in selling vehicles while simultaneously empowering dealers to source more consumer inventory.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. This model fosters a direct-to-consumer relationship while simultaneously benefiting the dealerships by increasing their inventory turnover and revenue opportunities.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.

## Funding rounds

- Seed, Apr 2, 2020 — Streamlined Ventures, Porsche Ventures

## Investors

- Streamlined Ventures (https://capitalatlas.ai/funds/streamlined-ventures) — Seed
- Porsche Ventures (https://capitalatlas.ai/funds/porsche-ventures) — Seed