Shift Technologies, an online marketplace for used cars, was founded in 2013 in San Francisco with the goal to disrupt the peer-to-peer used car market.
Shift has recently raised $140million in equity and debt in a series D financing led by Lithia Motors. Alliance Venture, BMW iVentures, and Highland Capital also participated in this round bringing the total funding for Shift to $265 million.
With this injection of capital, Shift aims to invest in its technology platform and scale its engineering staff. In the past 6 months, Shift has recorded a revenue growth of more than 70% and is expected to continue this trend with the recent capital raise.
Some Cyndx Finder Comparables (Private Companies):
These comparable companies have been generated using Cyndx Finder, a tool for Private Equity firms, Venture Capital Firms, and Investment Banks to analyze the entire Private Company universe and identify the most relevant and appropriate opportunities for acquisitions or market analysis.
CarSwipe offers an easy, fast, and simple car buying experience. CarSwipe is designed to connect buyers with dealerships through a natural and intuitive design swipe right to favorite, or swipe left to discard.
NowCar is an online solution to car buying, allowing customers to pick a car, secure financing, and have the car delivered
Sources used to verify and support the funding history and company statistics: