Summerset Group has made a strategic investment in software provider Integrated Auction Solutions.

IAS said that the digital wholesale marketplace is “quickly evolving,” and the company said Summerset LLC recognized an opportunity to “drive forward digital wholesaling” for independent auctions, consignors and dealers.

Summerset, a growth management investment company, saw the opportunity to do that by building on the “innovative technology and products” that IAS developed.  

IAS president John Lilly said digital wholesaling is “no doubt the future.”

“But we believe the first step is optimizing an auto auction’s internal processes, workflows, and financial reporting with the state-of-the-art AuctionMaster tools we have developed over the last 36 months,” Lilly said in a news release.

Lilly continued, “Summerset, with strong relations in the auto industry, will be great partners for us as we grow this business going forward.”

Summerset Group LLC managing partner Joe Bihner added, “When we looked at the wholesale marketplace and the opportunity to enable digital auctions, simulcast auctions and in-Lane auctions, we believe IAS has the technology platform, products and services, and employees with decades of wholesale experience to help its clients navigate the wholesale marketplace.”

Bihner continued, “As wholesale buyers continue to look for more opportunities to find the right car at the right price, we believe the IAS platform, built on a modern technology platform, is perfectly positioned to capture market share and drive wholesale profits.”