Droom raises $200 Mn in a pre-IPO round at $1.2 Bn valuation

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Droom, an online automobile marketplace, has closed the first leg of its pre-IPO growth funding round of up to $200 Mn at a valuation of $1.2 Bn. In addition to participation by several existing investors, new investors including 57 Stars and Seven Train Ventures participated in the first closing of the round, the company said in a statement.

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“Droom’s current annual run-rate is $1.7 Bn for GMV and $54 Mn for Net Revenue. The company remains on track to touch a GMV of $2 Bn and a Net Revenue of $65 Mn+ in CY2021. With the current scale, technology-oriented business, and operational efficiency Droom is nearing profitability," the statement said.

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