HopDrive Raises $8M in Series A

HopDrive, a Richmond, VA-based provider of short distance vehicle delivery solutions for automotive dealerships, independent service centers, and fleet management companies, closed an $8m Series A funding.

The round was led by Cox Enterprises, Inc., parent company of Cox Automotive, Inc., with participation from previous lead investor Overline, automotive logistics platform ACERTUS, and Ally Ventures.

The company intends to use the funds to accelerate development of its technology platform, to make key hires to support its customer base, and to fuel a significant increase in its nationwide footprint.

Founded in 2018 by Nick Mottas, CEO, HopDrive provides automotive businesses with a solution for short distance vehicle transportation. Common use cases include concierge service appointment pickups, at-home consumer test drives, vehicle purchase deliveries, and more, all executed on demand with the platform. In 2022, the company doubled its geographic footprint from 4 to 9 markets, including Richmond, Charlotte, Raleigh-Durham, Atlanta, Philadelphia, Chicago, Phoenix, Dallas, and Houston. HopDrive plans to expand to Orlando, Baltimore, and Nashville in the next 90 days, and to a total of 20 additional markets over the next two years.

Along with the investment, the company also announced the addition of Joe Kichler, vice president and general manager of Manheim Logistics, a Cox Automotive brand, and automotive industry veteran David Metter to its Board of Directors.