NEW YORK -

Used-car ecommerce platform Vroom has secured a $254 million Series H round of funding led by Durable Capital Partners LP.

Among other purposes, these funds will be used to expand Vroom’s new product and engineering hub in Detroit.

The round, announced Friday, means Vroom now has $721 million in total funding.

Also participating in the round were funds and accounts advised by T. Rowe Price Associates, Inc., L Catterton and others.

“This new round of funding provides the necessary resources to further grow and scale our business,” Vroom chief executive officer Paul Hennessy said in a news release.

“We are thrilled to receive continued support from investors and partners, reinforcing the Vroom model as a tremendous opportunity to bring about a fundamental and enduring change in the used-vehicle industry,” Hennessy said.

Vroom said in Friday’s release that it will use the Series H funds to “continue to invest in its people, technology, product, operations and marketing.” That includes the aforementioned expansion in the Detroit hub, which opened in August.

The company plans to “significantly increase” product and engineering staff there next year. It picked Detroit as the home of the hub for its “wide pool of skilled tech, design and product talent, as well as its longtime automotive industry legacy,” Vroom said.

“I’ve worked with the Vroom team for years and I’m pleased to announce that it is one of the first companies that my new firm is investing in,” said Henry Ellenbogen, chief information officer at Durable Capital Partners LP. “We’re very excited to be a part of the future of automotive retail and support Vroom in its efforts to move the car buying and selling process online for consumers across the country.”