Donny Corridor, the chief executive and co-founding father of the broken-down automobile certification carrier, SureSale, knows broken-down vehicles. The serial entrepreneur built and sold a old replace, CarSure, which was an insurance thought for automobile repairs.
After promoting that replace in 2017 to Modern Aftermarket Programs, Corridor made up our minds that his next venture would be to bear on the broken-down automobile replace’s dominant supply for historic data just a few automobile — Carfax .
His Santa Monica, Calif.-essentially based SureSale has raised $7 million in financing from the LA-essentially based investment firm Upfront Ventures to win a nationwide broken-down automobile certification carrier that sellers and automobile possibilities spherical the nation can turn to for an fair evaluate of a automobile and its issues, per Corridor.
“66 p.c of user are seeking to pick vehicles which could perhaps per chance be certified and handiest 7 p.c carry out,” says Corridor. “Independents don’t bear any nationwide [certification] program and sellers don’t bear nationwide applications.”
The corporate integrates background tests, insurance, and supplies a restricted warranty and 5-day alternate choices for vehicles assessed thru its program.
To originate the replace, Corridor partnered with Jeffrey Schwartz, the co-founding father of the broken-down automobile market and evaluate platform, Autobytel.
Former automobile dealerships are hurting in the ecommerce age apt relish other used stores. SureSale is making a bet that its cost-added products and services and better reporting standards can provide sellers a aggressive advantages versus on-line products and services relish Carmax.
Dealerships pay for the carrier, but in return their customers win a beefy inspection, a title and a background test alongside the 5 month warranty.
“Although there bear been a bunch of most modern startups which bear viewed massive exits on this category relish Carvana ($13BN market cap) and Carmax ($16BN market cap), on condition that every company has no longer as much as 2% market piece, any market this substantial is constantly ripe for persevered effectivity gains,” wrote UpFront Ventures associate and SureSale director, Kobie Fuller, in a weblog put up.
