Vroom, an online retailer of pre-owned cars, has raised $95 million in Series C funding. The company's platform is designed to eliminate the hassle of the traditional way of buying, selling and financing cars, by putting the entire process online and leveraging Big Data to provide customers with cash offers to purchase their cars sight unseen. Vroom previously raised a $54 million Series B financing in July that valued it at $218 million. Existing backers include General Catalyst Partners and T. Rowe Price.
The new funding will support the acquisition of Texas Direct Auto, a retailer on eBay Motors. The two brands will operate online separately.