Dubai-based automotive data startup AlgoDriven has announced that it raised $625K in a recent funding round participated by Oman Technology Fund, 500 Startups, Dtec Ventures (Dubai), and Social Capital, a Silicon Valley-based VC firm.

AlgoDriven was launched in 2017 by co-founders Jaron Crossland and Glenn Harwood. Currently operational in GCC, Australia, and New Zealand, the company offers a portfolio of products that makes it for insurance companies, banks, and car dealers to identify and price used cars with accuracy. 

The vehicle appraisal system offered by AlgoDriven comes equipped with a desktop dashboard, mobile apps, and the ability to integrate with existing web plugins and software. Car dealers can use the system to carry out complete data-driven appraisals, which in turn, makes it easier for them to trade more vehicles with optimal efficiency. 

Meanwhile, the company’s enterprise products empower insurance companies and banks to accurately assess the prices of vehicles. 

Speaking on the company’s plans with the newly raised funds, Glenn Harwood, co-founder and CEO of AlgoDrivenm said, “We’re in the process of rolling out some exciting new features in our mobile apps, and new data points in our API products to add even more value to our products. Further, we’re ramping up sales and marketing in the MENA region.”

“International expansion is also a key focus over the coming months, as AlgoDriven pushes into the wider MENA market and beyond,” he added.

Jenan Al-Mukharriq

Jenan Al-Mukharriq

A highly driven organizing member of the StartUp Bahrain ecosystem. And a Project Manager at Matter In Hand with a passion for content creation and empowering communities.

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