SureSale raises $7 million
SureSale, “the first and only certification-as-a-service platform to create a consistent, high-quality standard for used vehicles,” announced a $7 million Series round led by Upfront Ventures. The funding round includes participation from Coffin Capital & Ventures, who led the seed round, among others.
Founded by automotive and technology entrepreneurs, Jeffrey Schwartz and Donny Hall, SureSale expands the inventory of Certified Pre-Owned cars by providing independent and franchise dealers with a certification and marketing platform that allows them to certify more of their used vehicle inventory across 30 makers and hundreds of models. The SureSale platform provides vehicle history data, mobile vehicle inspections, and VIN specific data, including recalls, as well as current warranty coverages, available coverages and detailed purchase protection. Each vehicle that uses the SureSale platform also benefits from VIN level digital marketing and point of sale merchandising support.
A recent case study of one of SureSale’s auto dealership pilot partners demonstrated that, in just a few months as a SureSale dealer, the dealership’s used vehicle sales increased by 30%, nearly three times greater than the average for the local market YOY.
“The used vehicle industry is the largest retail segment of the US economy that, surprisingly, still has major untapped potential to create an independent, gold standard brand and maximize value for both dealers and consumers. Donny and Jeffrey are veteran entrepreneurs who are bringing unmatched industry expertise and a technology-first approach to disrupt the traditional certified pre-owned category. We are excited to be their partners in this journey, especially as it’s happening in LA.” – Upfront Ventures partner Kobie Fuller.
“SureSale’s unique platform, and recognized quality standard, bridges this certification gap by providing auto dealers with expanded opportunities to certify their inventory to increase profitability and meet the needs of the growing population of used car buyers who want to “be sure” about their used vehicle purchase. With SureSales’s standardized ‘proof-of-quality’ and nationwide distribution, CPO buyers can have assurance that their vehicles have been checked, inspected, and protected. And this provides benefits to auto dealerships as well: studies show that CPO vehicles turn faster, are considered higher value by consumers and increase customer satisfaction.”- Donny Hall, cofounder and CEO of SureSale.
Bottom Line: Every SureSale Certified vehicle comes with 5 months and 5,000 miles of protection and a 5-day, 500-mile Exchange Guarantee.
