Openlane

Openlane

Online marketplace for wholesale vehicle transactions

About Openlane

Simplify's Rating
Why Openlane is rated
B
Rated C on Competitive Edge
Rated B on Growth Potential
Rated A on Differentiation

Industries

Automotive & Transportation

Company Size

51-200

Company Stage

IPO

Headquarters

Redwood City, California

Founded

1997

Overview

Openlane operates an online marketplace specifically designed for car dealers in the wholesale automotive market. The platform allows dealers to buy and sell vehicles in bulk, providing access to a wide inventory that includes dealer trades, commercial vehicles, and off-lease exclusives. Openlane simplifies the buying process by offering detailed vehicle reports, which help dealers understand the condition and history of the vehicles they are purchasing, thereby reducing risk and guesswork. Unlike many competitors, Openlane focuses on transparency and ease of use, ensuring that dealers can make informed decisions. The company generates revenue through transaction fees for listings and sales, as well as additional services like vehicle inspections. The main goal of Openlane is to enhance the efficiency and profitability of car dealers by providing them with a comprehensive and user-friendly platform.

Simplify Jobs

Simplify's Take

What believers are saying

  • Automated Absolute Sale tool optimizes inventory turnover for dealers.
  • Migration to AWS cloud services improves platform scalability and reliability.
  • Sale of non-core units focuses resources on core digital marketplace operations.

What critics are saying

  • Emerging online marketplaces may erode Openlane's market share.
  • Economic downturns could reduce vehicle inventory and transaction volumes.
  • Dependency on AWS introduces risk of service disruptions affecting operations.

What makes Openlane unique

  • Openlane offers a comprehensive online marketplace for wholesale automotive transactions.
  • The platform provides detailed vehicle reports, reducing risk for car dealers.
  • Code Boost IQ enhances vehicle inspection with AI-driven OBD2 intelligence.

Help us improve and share your feedback! Did you find this helpful?

Funding

Total Funding

$245M

Above

Industry Average

Funded Over

2 Rounds

Acquisition funding comparison data is currently unavailable. We're working to provide this information soon!
Acquisition Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Paid Vacation

Parental Leave

401(k) Retirement Plan

401(k) Company Match

Mental Health Support

Tuition Reimbursement

Professional Development Budget

Company News

Stock Titan
Apr 22nd, 2025
OPENLANE Names Brad Herring Chief Financial Officer

OPENLANE (NYSE: KAR) has appointed Brad Herring as EVP and Chief Financial Officer, effective May 27, 2025.

Auto Remarketing
Jan 8th, 2025
OPENLANE sells High Tech Locksmiths to Dent Wizard

OPENLANE has sold its High Tech Locksmiths business unit to Dent Wizard, a reconditioning services provider.

MarketBeat
Nov 27th, 2024
Clifford Capital Partners LLC Invests $10.31 Million in OPENLANE, Inc. (NYSE:KAR)

Clifford Capital Partners LLC invests $10.31 million in OPENLANE, Inc. (NYSE:KAR).

MarketBeat
Nov 26th, 2024
Intech Investment Management LLC Invests $1.44 Million in OPENLANE, Inc. (NYSE:KAR)

Intech Investment Management LLC invests $1.44 million in OPENLANE, Inc. (NYSE:KAR).

Sierra-Cedar
Oct 21st, 2024
OPENLANE Migrating VMware VMC Instances to AWS Cloud-Native Services

After evaluating multiple AWS migration service providers, OPENLANE selected Sierra-Cedar, an AWS Advanced Consulting Partner, due to its expertise in PeopleSoft applications, flexible engagement model, and experience with IaC tools.

Recently Posted Jobs

Sign up to get curated job recommendations

Field Operations Coordinator

$26 - $28/hr

Visalia, CA, USA

Relationship Associate

Saskatoon, SK, Canada

Relationship Specialist

$70k - $80k/yr

Milpitas, CA, USA + 4 more

See All Jobs

Openlane is Hiring for 59 Jobs on Simplify!

Find jobs on Simplify and start your career today

๐Ÿ’ก
We update Openlane's jobs every few hours, so check again soon! Browse all jobs โ†’

Relationship Associate

Saskatoon, SK, Canada

Relationship Specialist

$70k - $80k/yr

Milpitas, CA, USA + 4 more

See All Jobs

Openlane is Hiring for 59 Jobs on Simplify!

Find jobs on Simplify and start your career today

๐Ÿ’ก
We update Openlane's jobs every few hours, so check again soon! Browse all jobs โ†’