Bidbus, an Irvine-based online vehicle auction platform, has secured $15 million in Series A funding to accelerate its expansion and enhance its technological infrastructure. The funding round was led by Ibex Investors, with participation from Mucker Capital, Data Point Capital, FJ Labs, Motley Fool Ventures, Walter Ventures, and existing backers.

Founded to provide a transparent and competitive marketplace for used car sales, Bidbus enables licensed dealerships to bid in real time on vehicles directly from consumers. This approach aims to replace the traditional method of visiting multiple dealerships or negotiating with a single buyer, which can often lack transparency and efficiency. Consumers complete a guided vehicle inspection, set an expected price, and receive competing offers from dealers rather than just one trade-in valuation.

Since its launch, Bidbus has facilitated transactions for more than 10,000 vehicle sellers and reached approximately $300 million in annualized gross merchandise value. The company has seen significant growth in the past year, expanding its dealer network across California and Texas and achieving a sevenfold increase in transaction volume.

The U.S. market sees about 39 million used vehicle sales annually, but the process remains fragmented, with sellers often lacking insight into dealer demand, while dealerships face high customer acquisition costs. Bidbus aims to address these issues by building a more efficient and transparent system.

The newly raised capital will support Bidbus’s entry into additional markets, strengthen its dealer network, and expand teams across product development, engineering, and operations. The company also plans to continue investing in vehicle evaluation technologies and auction performance improvements. Chief Executive Officer Duke Yan emphasized that the company’s next phase will focus on integrating enhanced technology, increased dealer participation, and operational efficiencies to create a scalable marketplace and operating system.