HopDrive, a Richmond, VA-based supplier of quick distance automobile supply options for automotive dealerships, impartial service facilities, and fleet administration corporations, closed an $8m Collection A funding.
The spherical was led by Cox Enterprises, Inc., mum or dad firm of Cox Automotive, Inc., with participation from earlier lead investor Overline, automotive logistics platform ACERTUS, and Ally Ventures.
The corporate intends to make use of the funds to speed up growth of its know-how platform, to make key hires to help its buyer base, and to gas a big enhance in its nationwide footprint.
Based in 2018 by Nick Mottas, CEO, HopDrive supplies automotive companies with an answer for brief distance automobile transportation. Frequent use instances embrace concierge service appointment pickups, at-home client take a look at drives, automobile buy deliveries, and extra, all executed on demand with the platform. In 2022, the corporate doubled its geographic footprint from 4 to 9 markets, together with Richmond, Charlotte, Raleigh-Durham, Atlanta, Philadelphia, Chicago, Phoenix, Dallas, and Houston. HopDrive plans to develop to Orlando, Baltimore, and Nashville within the subsequent 90 days, and to a complete of 20 extra markets over the subsequent two years.
Together with the funding, the corporate additionally introduced the addition of Joe Kichler, vp and common supervisor of Manheim Logistics, a Cox Automotive model, and automotive trade veteran David Metter to its Board of Administrators.
FinSMEs
25/01/2023
