TradeRev Creates New Benchmark for Dealer-to-Dealer Technology with Launch of Its Newest Version

TORONTO--(BUSINESS WIRE)--

Changing the auto remarketing game for dealers across North America since its launch in 2009, TradeRev, a Toronto-based provider of a revolutionary mobile vehicle appraisal and auctioning system for dealers, has officially unveiled the new TradeRev – its newest and most innovative version yet. TradeRev President and Co-Founder Mark Endras made the announcement.

"The TradeRev team is always striving to achieve the next big thing in dealer-to-dealer technology. We constantly explore new technologies and listen closely to our dealers, which enables us to evolve and fine-tune our systems to accomplish maximum accuracy, efficiency and transparency," said Endras. "The new TradeRev and the introduction of TradeRev Pro are the culmination of this approach that is driven by our team's obsession with persistently finding better ways to achieve measurable and meaningful results."

TradeRev Pro, the foundation of the new TradeRev, ushers in an exciting new era of premium offering of services for power users. Free until May 31, 2016, all customers will be seamlessly upgraded to TradeRev Pro once they update the app on their devices and will have access to new features like:

• Advanced research
• Analytics on every running vehicle
• Vehicle Smart Lists
• Customizable virtual lanes
• Funds Guaranteed within 72 business hours of transaction completion once title/ownership is received and liens are cleared
• In-app post-auction negotiation function
• Unlimited no charge private trading networks

In addition to TradeRev Pro, the new TradeRev displays a fresh new design, a host of new features and upgrades designed to optimize the dealer experience, and for the first time, multi-lingual support in Spanish in addition to English and French.

"Everything we do, we do to support and strengthen our valued North American dealer network," said Endras. "Our dealers' feedback is the driving force behind every new or enhanced feature, and we are confident this version will help them continue to unlock new opportunities and optimize results."

As the first company to launch this type of dealer-to-dealer technology, TradeRev has been blazing a new trail in the auto remarketing technology world since its debut. By harnessing mobile technology to enable dealers to launch live, real-time, one-hour auctions and by allowing buyers to purchase vehicles from wherever they are, TradeRev has been widely lauded for disrupting the remarketing process, making it more productive and profitable for dealers, allowing them to close more deals, minimize risks during the trade-in process and sell vehicles quickly, all at a reduced expense.

After building a strong footprint in Canada, TradeRev formed a strategic partnership with ADESA, a business unit of KAR Auction Services, Inc. KAR, when ADESA acquired a 50 percent stake in the company in August 2014. Bolstered by ADESA's extensive suite of back-office support tools, TradeRev then embarked on an aggressive and ongoing expansion into the United States, with the goal of being the go-to, trusted tool for all dealers across North America.

To learn more about TradeRev, visit traderev.com.

TradeRev is a revolutionary vehicle appraisal and auctioning system that gives dealers and buyers the power to launch live, one-hour, dealer-to-dealer auctions from the palm of their hand, whenever and wherever they are. Available on iOS, Android and desktops, TradeRev brings unmatched convenience, accessibility and advantage to the retail and wholesale remarketing processes, including the ability to sell vehicles on-demand, and generate real-time, real-data pricing information. Through SMS, mobile and email alerts, buyers never miss an auction, and have access to fresh trades before they even reach traditional inventory channels. Backed by ADESA's suite of back office services, as well as an innovative rating system, buyers and sellers alike can participate in real-time auctions with confidence and transparency. ADESA is a business unit of KAR Auction Services KAR. For more information, visit traderev.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160321005728/en/