DLA Piper represented CarCo Technologies, Inc., commonly known as DRIVIN, from its formation in 2014 through its sale in April 2017 to KAR Auction Services, Inc (NYSE: KAR). DRIVIN utilizes and consolidates national wholesale, retail and consumer auto data to help car dealers quickly and efficiently find, buy and sell used cars. DRIVIN was launched by Eric Lefkofsky and Brad Keywell, the co-founders of Groupon, as an incubated portfolio company of their venture capital firm Lightbank. DLA has a history of successfully working with Lightbank's portfolio companies throughout their life cycle.
The core DLA Piper team was actively involved in each stage of DRIVIN's rise in the tech world − from DRIVIN's formation and initial seed capital round, through its additional venture capital financing round led by Columbus Nova Technology Partners, to its venture debt facility with Silicon Valley Bank, and, ultimately, to its M&A exit event. Along the way, DLA worked hand in hand with DRIVIN's management team, investors and board to help the company realize its growth potential, providing outside general counsel services and strategic advice.