CHANDLER, Ariz. -

Drivably, a company that uses artificial intelligence to help dealers acquire used-car inventory from private parties, has lined up an investment from Porsche Ventures.

The company said it will utilize the investment to expand its technology and footprint.

Drivably’s technology uses deep analytics to help dealers buy vehicles from consumers at scale. It also provides dealers market data to help them determine which vehicles make sense for their lots.

Drivably identifies vehicle-selling consumers online, connects with them, puts together the right offer and sets up dealership appointments. The seller is connected “directly and exclusive” with a dealer in the Drivably network in the specific market. The dealer conducts a 15-minute walkaround inspection and writes the seller a check.

“It makes perfect sense that an innovative brand like Porsche would invest in progressive technology to improve the way we connect and engage with private party sellers,” Drivably chief executive Tyler Hall said in a news release.

“Having the right mix of inventory acquired at the right price has always been essential for dealers. With today's market challenges, it takes on greater importance,” he added. “The investment by Porsche Ventures enables us to add exciting new functionality and features to help dealerships optimize their operations and grow their businesses.”

Philipp Duelfer, who is director of corporate business development at Porsche Cars North America, said: “This year has been a catalyst to accelerate the digital transformation of our business in collaboration with our dealer partners. We are excited about the investment in Drivably and the ways our collaboration will support dealers and customers alike.”

For more with Hall, the Drivably CEO, see the episode of the Auto Remarketing Podcast below.