KAR Auction Services today announced it has boosted its asset recovery capabilities with the purchase of Clearplan.
Based in Reno, Nev., Clearplan is a digital platform for recovery agents, drivers, forwarders and lenders that acts as a centralized, mobile “cloud-based hub” for repo workflow and logistics management.
KAR shared in a press release announcing the news that the move ramps up KAR’s Software-as-a-Service capabilities, which also include Recovery Database Network (RDN).
“KAR is focused on leveraging the best in digital technology to help our customers operate more efficiently and effectively,” said Peter Kelly, KAR’s president of digital services. “Clearplan quickly established itself as a market leader by developing a data-driven, user-friendly communications platform. By integrating Clearplan with our existing capabilities, we will be able to offer smarter, faster and more convenient solutions that serve the entire asset recovery ecosystem.”
A little background on Clearplan: The company was launched back in 2014 with the goal of streamlining the vehicle asset recovery process.
Today, the platform works to connect thousands of recovery agents to more efficiently list, log and track vehicle recovery activity.
The acquisition is highly complementary, KAR said, to it’s RDN subsidiary, which provides software and data solutions to the repossession industry.
“We are thrilled to extend and strengthen our partnership with RDN by becoming part of the KAR Auction Services organization,” said Justin Zane, Clearplan co-founder and president. “We look forward to serving our shared customers and delivering the next generation of innovative, technology enabled solutions to our industry.”
Clearplan will retain its Nevada headquarters and become part of KAR's digital services group of companies.
At Used Car Week, we caught up with Kelly, Zane and RDN's Michael Briggs to talk about the purchase for an episode of the Auto Remarketing Podcast, which can be found below.