ACV Auctions secured $55 million at a valuation of $1.75 billion if all Series E-1 shares authorized are issued. The online automotive marketplace for dealers is previously backed by Tribeca Venture Partners, Bessemer Venture Partners, Bain Capital, Fidelity Management and Reseach, and Wellington Management to name a few. The most recent round, Series E-1, follows $150 million raised for Series E, valuing the company at $1.58 billion. The terms surrounding the Series E-1 include a pari passu liquidation preference with all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $5.9241, an up round from Series E at $5.5302.
ACV Auctions is a Prime Unicorn Index component. Here’s how they are currently tracking against the index:
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