Manheim has deepened its relationship with Carvana.
The auction company said Wednesday it added to the list of markets in which it is partnering with the online retailer.
Carvana, which can buy and sell wholesale vehicles through Manheim’s online marketplaces, is now working with Manheim in 40 markets, part of a collaboration that has included thousands of transactions.
The relationship between the companies goes back more than five years.
“Much like in the consumer space, Carvana has made a name for itself in Manheim’s digital marketplace as an innovator and successful buyer and seller,” said Grace Huang, president of Inventory Solutions at Cox Automotive, in a news release.
“Their deep expertise in retailing cars online translates seamlessly to the wholesale environment, and we cheer on their success in our digital marketplaces,” Huang said.
The move comes as demand rises for the online retailer. As such, Manheim is providing Carvana pricing guidance and in-depth analytics, plus condition reports on all cars sold through the company’s digital channels.
“Carvana’s goal is to give every customer an exceptional experience, which aligns with Manheim’s way of doing business, so we’re proud to call them a partner,” Carvana chief executive Ernie Garcia said in the release.
“Utilizing Manheim’s broad remarketing experience and diverse digital solutions has helped us accelerate as demand increases for our new way to buy a car.”
This expansion was followed by news of a similar sort from Manheim parent Cox Automotive on Thursday morning.
The company was the lead investor in a $28.61 million Series B funding round for Ridecell, a software platform used to run mobility services like carsharing, ridesharing and autonomous fleet management. Additional participation in the round came from return investor Initialized Capital, along with industry partners DENSO, Penske, Deutche Bahn and Mitsui.
This continues a series of investments Cox Automotive has made in the space since 2014. Last year, the company invested in Ouster, which is building affordable LiDAR sensors used in autonomous vehicles. In 2015, Cox Automotive invested in vehicle subscription provider Clutch, following a year where it led the Series B round for the Getaround car-sharing platform.
In 2014, Cox Automotive began incubating the Flexdrive subscription platform that is now a joint venture with Holman Enterprises.
“Cox Automotive’s strategic investment in Ridecell is another tangible move we are making in the mobility space, and a clear indication of our belief in Ridecell as a world-class provider of ridesharing and carsharing technology,” said David Liniado, who is Cox Automotive’s vice president of new growth and development, in a news release about the Ridecell investment.
“Together, we will fill the missing link in the market for new mobility services that deliver cohesive management for the fleets of today and tomorrow,” he said.