Used Car Marketplace Vroom Raises $50M

September 21, 2016 | American-Israeli online used-car marketplace Vroom has raised $50 million in a funding round from existing and new investors, bringing their total funding to $218 million. Founded in 2013 and headed by CEO Allon Bloch, VRoom will use the funding to help expand its operations in the United States and increase inventory. The company currently has an inventory of more than 2,300 vehicles, according to its website. Vroom expects to generate more than $1 billion of revenue in 2016, up from $900 million last year. The latest round was led by existing investor T Rowe Price Associates Inc, and added technology-focused investment firm Altimeter Capital and Foxhaven Asset Management as investors.