Bidbus Secures $15M Series A to Expand Live Car Auction Marketplace

Bidbus, an Irvine-based online automotive marketplace that enables licensed dealers to compete in real time for vehicles directly from consumers, closed a $15 million Series A round led by Ibex Investors, with participation from Mucker Capital, Data Point Capital, FJ Labs, Motley Fool Ventures, Walter Ventures and existing investors.

“Consumers should not have to visit multiple dealerships or negotiate against a single buyer to understand what their car is worth,” said Duke Yan, co-founder and chief executive of Bidbus, in a statement. “We built Bidbus to create a transparent marketplace where qualified dealers compete for every vehicle. This funding allows us to expand that marketplace while building the technology, operating systems and team required to scale.”

Since launch, Bidbus has served more than 10,000 vehicle sellers and reached approximately $300 million in annualized gross merchandise value. Over the past year, the company has grown sevenfold while expanding its dealer network and establishing operations across California and Texas. Through its live auction platform, consumers can complete a guided virtual vehicle inspection, set an expected price and receive competing bids from licensed dealerships, rather than relying on a single trade-in or instant-buy offer.

Approximately 39 million used vehicles are sold in the United States each year, yet the process through which consumers sell vehicles and dealerships source inventory remains fragmented and inefficient. Sellers often receive limited visibility into actual dealer demand, while dealerships rely on costly and inconsistent acquisition channels. At the same time, dealers increasingly need access to locally sourced vehicles that match their specific inventory needs.

The new capital will be used to expand Bidbus into additional metropolitan markets, grow its dealer network and strengthen its product, engineering and marketplace operations teams. Bidbus will also continue investing in technology that improves virtual vehicle evaluation, auction performance and operational efficiency. This includes AI-powered seller communication, dealer recommendation tools and internal workflow automation.

“Our next chapter is about building a marketplace and operating system that can compound where better technology, stronger dealer participation and more efficient operations reinforce one another as we scale,” said Yan in a statement.

Information for this story was provided by Bidbus.