Gauge operates an online auction (StockUp) that lets dealers purchase vehicles directly from consumers, using vehicle inspections and published condition reports. The platform aligns incentives to find the highest offer for sellers while driving transaction volume for dealers; Gauge guarantees vehicle condition to buyers and charges buyers traditional auction fees so sellers receive the full offer. Launched in September 2020 and based in Salt Lake City, Gauge currently operates in Salt Lake City and Phoenix and has transacted over $75M of vehicles to date, with volume growing 5x in 2021. Both small independent dealers and large franchised groups (Ken Garff, Larry H. Miller, Tim Dahle, Bill Luke) buy through the marketplace on a per-transaction basis. Gauge plans to use the new capital to expand into new cities—targeting 10 additional markets in the next 24 months—while continuing to build its technology.

Total raised

$5M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2023