Entrepreneur George Chamoun is driven by his desire to change the wholesale industry via technology as head of ACV Auctions.
After graduating from the University at Buffalo in 1997, the North Syracuse, N.Y., native would go on to launch technology and services company Synacor with his college roommate Darren Ascone, a year later.
Chamoun, an early angel investor in ACV, spent two decades leading Synacor as president of sales and marketing prior to joining ACV.
ACV Auctions’ recent procurement of $15 million in venture funding in a Series B investment from a Silicon Valley-based firm is is the largest the company has received since it began operations in 2014.
That $15 million in venture funding, which occurred not long after Chamoun became CEO, was led by Bessemer Venture Partners.
In September 2016, the company had announced that it both brought aboard Chamoun and raised $5 million in venture funding, led by Tribeca Venture Partners, with participation from SoftBank Capital NY, Armory Square Ventures and Rand Capital.
“It’s my job to lead the company to be a very success oriented company,” Chamoun said in an interview with Auto Remarketing. “We’re growing the business in a very, very exponential way — growing in hitting all of our goals and objectives that we’ve set for ourselves. We’re out there growing four new markets a month. We’re going strong from Buffalo all the way down to just now entering in Florida.”
“It’s helpful that I spent 20 years building a technology company where we utilized technology to change the way businesses and consumers operate. It started out with email many years ago. We were a company that operates email services, and back then that was a new service 20 years ago,” Chamoun explained.
When asked about the similarities between his prior and current role Chamoun said his commitment to growth as a leader remains the same.
“The commonality is that you’re hiring great people to build great technology, to service very important customers and changing the way the industry works and in a way adding value via technology and people, to help an industry grow and become better.”
ACV has continued to add markets this year and has plans to do even more expansion.
“We’re very core mission-driven, everything we do is about trust and transparency, so we’re leveraging technology and our people know the trusted and transparent platform,” Chamoun said. “ And we’ve got the capital partners and investors who all believe in our mission and funded our business to help us have the capital needed to grow at a rapid rate.”
In mid-October, Auto Remarketing recorded a podcast with Chamoun, which can be found below.