Inride

inride is an automotive auction platform specializing in facilitating buying and selling of vehicles by consumers to car dealers. Inride’s proprietary software allows consumers to sell their vehicles either using an instant offer transaction or competitive auction to car dealers nationwide  while ensuring transparency and efficiency throughout the process. By blending technology and industry expertise, inride provides a seamless experience for consumers looking to sell their cars and dealers looking to acquire pre-owned inventory.

History

inride was founded in 2018 in Washington, D.C., as the region's first car subscription service. Initially, the company focused on providing flexible access to a choice of makes and models of  vehicles, offering customers a subscription business model instead of committing to traditional purchasing or leasing models.

However, in 2021, the COVID-19 pandemic significantly impacted the automotive industry, shifting market demands. In response, inride pivoted its business model to become a used car acquisition company that provided instant offers for interested drivers. This transformation allowed the company to meet the growing consumer needs for quick and reliable vehicle selling options, capitalizing on the high demand for used vehicles during this time of economic uncertainty.

In 2024, inride launched its consumer-to-dealer auction platform. This platform connects individual sellers with a network of dealerships across the country, providing sellers with the opportunity to receive multiple competitive offers. It also gives dealerships access to a broader range of inventory directly from consumers. The auction platform is supported by a $1.2 million investment in research and development, further enhancing the software's functionality and security.

Highlights

Since pivoting to the used car acquisition model in 2021, inride has facilitated the sale of 857 vehicles, with an estimated vehicle market value of $25 million. The company continues to invest in its auction platform, ensuring the software remains state-of-the-art and secure.

In 2023, inride partnered with software development company Blue Altair to design and build the next generation of its auction platform making inride one of the leading automotive auction platforms with a national network of dealers. In its mission statement, inride states that its goal is to handle everything from beginning to end, including transfers, transactions and vehicle pick-up to ensure a seamless, secure and hassle-free experience.

“We are very excited to see our collaborative efforts come to fruition with the release of this cloud-based platform,” said Nilesh Dhingra, founder and CEO of Blue Altair.

inride has also partnered with Cooley LLP, a prominent legal firm serving technology start-up companies, as one of their specialties.

“The inride team has combined its deep experience in the legacy automotive industry with its experience in the SaaS software sector to build a platform that is poised to transform an industry. This will be a win-win for consumers and dealers alike,” said Mike Lincoln, Vice Chair of Cooley LLP.