Bidbus Raises $15 Million for Dealer Auction Marketplace

Bidbus has raised $15 million in Series A funding led by Ibex Investors, the company announced in a press release.

Mucker Capital, Data Point Capital, FJ Labs, Motley Fool Ventures, Walter Ventures and existing investors also joined the round. Bidbus operates an online automotive marketplace where licensed dealers bid in real time for vehicles from consumers.

The platform lets sellers complete a guided virtual vehicle inspection, set an expected price and receive competing offers from dealerships. Bidbus says it has served more than 10,000 vehicle sellers and reached about $300 million in annualized gross merchandise value since launch.

The company will use the funding to expand into more metropolitan markets, grow its dealer network and add staff across product, engineering and marketplace operations. It also plans to invest in AI powered seller communication, dealer recommendation tools and internal workflow automation. Bidbus currently operates in major markets across California and Texas.