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ACV Auctions to hire 100 people

Two months after receiving major expansion funding, ACV Auctions is ready to hire 100 people.

The online automotive marketplace announced Monday it will expand into eight new markets and needs staff to support those areas, as well as its Buffalo headquarters.

The new markets will include southern New Jersey; Roanoke, Va; Hartford, Conn.; Boston, Mass.; Cincinnati, Ohio; Louisville, Kentucky; Nashville, Tenn. and Charlotte, N.C.

Open positions in Buffalo include vehicle condition inspectors, account managers, inside sales director and vice president of marketing. Elsewhere, the company is looking for operations associates, titles specialists, territory menagers and a regional sales director.

 

The company said its growth has been driven by customer demand.

In March, it received $15 million in venture capital funding from California-based Bessemer Venture Partners. That company has funded early-stage investments in successful firms such as Skype and Pinterest. The money helped ACV ramp up its expansion rate from one market per month to as many as three markets per month.

It has accelerated hiring, as well. It has gone from 65 employees in September to 98 people in March, and is now adding 100 more. The company launched in 2015.

ACV Auctions has sought to shake up the way car dealers sell their unwanted vehicles by creating a smartphone app that allows those cars and trucks to be sold in 20-minute online auctions rather than through conventional auctions that are typically held weekly.

The company won the 43 North startup competition's $1 million prize in 2015, giving it free incubator space, mentoring and 10 years of state tax abatements.

The company earns a fee from each sale and contends its online auctions are cheaper and more efficient than in-person auctions.

 

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