AutoGrab, a Melbourne-born business helping car dealerships, insurers, and fleet managers keep track of vehicle data and valuations, has booked an $80 million raise that takes its valuation to $230 million.
The UK’s Octopus Ventures and Kiwi venture capital firm Movac led the round, with participation from Premier Capital Partners and existing investors EVP and Ten13.
Founded by co-CEOs Daniel Werzberger and Chris Gardner, AutoGrab provides automotive intelligence to dealerships, insurers, lenders, and fleet operators, giving businesses deep insights about the vehicles in their network.
Dealers can access real-time values based on the average selling price for specific model types across Australia, while fleet managers can assess the perfect time to trade-in or sell.
The five-year-old business claims more than 1,000 dealerships across Australia now use its platform, equating to a quarter of the market, with nine out of 10 insurers tapping into its data when calculating payouts.
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AutoGrab’s consumer-facing products include CarAnalysis, allowing prospective buyers to enter a used vehicle’s unique VIN to determine its market value, specifications, accident history, and whether it was stolen.
Valuemycar provides similar tools to sellers, helping them effectively price their used car and address any issues, like missed services or aftermarket modifications, that could affect its market value.
In November, AutoGrab partnered with Commonwealth Bank on the Cars for Commbank platform, allowing bank customers to search for available vehicles and browse finance options.
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AutoGrab operates in Australia, New Zealand, and Malaysia, with early forays into the UK.
In a statement, Gardner, who relocated to London, flagged potential growth in the UK insurance market.
“For years, insurers have relied on partial data, manual processes and assumptions,” he said.
“Our platform removes that ambiguity by clearly defining what a car actually is, and therefore what it is truly worth before an accident occurs.”
Werzberger said AutoGrab is particularly well-poised to handle data related to electric vehicles, including information relating to the tide of Chinese-made cars and utes entering the market.
“The globalisation and increasing complexity of the automotive market, combined with the rapid growth of online sales, requires world-class automotive intelligence and online tooling to optimise the sales journey,” he said.
While the UK and European markets are in the company’s sights, Wersberger said AutoGrab remains focused on the domestic environment, “where we continue to invest heavily in product, data and relationships”.
Fi Foster, partner at Movac, said the founding duo has demonstrated “top-tier capital efficiency without sacrificing strong growth”.
“We really value that maturity — knowing how to build sustainably and knowing when to raise capital to accelerate,” she said.
“AutoGrab is now well-positioned to take on this additional funding and drive the next stage of growth.”
