Chennai, India – 20^th March, 2024

US-based ACV (NASDAQ: ACVA), a leading digital automotive marketplace for dealers and commercial partners, today announced the opening of its new development center in Chennai, India. The launch of ACV India Development Center is a significant milestone towards expanding and helping the company further drive innovation and growth.

The high-growth auto marketplace company plans to scale its India operations rapidly to leverage Chennai’s availability of highly skilled technology professionals and its reputation in automotive and SaaS industries.

The decision to expand into India underscores ACV’s commitment to advancing its product technology and operational capabilities in order to serve a growing customer base.

The ACV India Development Center will focus on product development, technology innovation, and operational excellence. "The launch of ACV India is a testament to our forward-looking growth strategy and our belief in the power of global talent to drive technological advancements," stated George Chamoun, CEO, ACV.

Expressing excitement over his appointment as the Head of ACV India, Sathish Vaidyanathan said, "I am excited to lead ACV India's journey from Chennai. Our goal is to build a vibrant team in India and to contribute significantly to ACV's global vision. Our focus will be on harnessing the stellar local technology talent to enhance our product offerings and operational efficiencies."

ACV has started the recruitment and hiring process to build its team in Chennai, with plans to fill more than one hundred roles over the next 12 months. The new positions will be involved with a wide variety of technologies, platforms and applications integral to ACV’s innovation efforts, in artificial intelligence, data services and other core areas. The new positions will be filled across technologies such as Java, .NET, Salesforce, Python, Vue.js, FastAPI, Node.js, React, React Native, iOS, Android, databases. Positions are currently open for software developer (back end, web and mobile front end, full stack, Salesforce), data engineer, engineering manager, and product manager roles in Chennai. The new office is located at The Hive - Flexible Workspaces, OMR Chennai, providing a vibrant and collaborative workspace for the team.

The Chief Operating Officer of ACV, Vikas Mehta, highlighted the strategic importance of the India launch. "The establishment of ACV India is a key pillar in our strategy to build a scalable and efficient global operation. By tapping into the skilled workforce in India, we aim to accelerate our technological development and support our expansion into new markets."

ACV is well known in the US and Canada as a top workplace and has been certified as a Great Place To Work ® in both countries.

The Chief People Officer of ACV, Sallie Reid, further emphasized the company's dedication to creating an equally supportive and inclusive work environment in India. "At ACV, we are committed to attracting and nurturing industry-leading talent. The establishment of our technology development center in Chennai reflects our global approach to company growth and talent management. We look forward to integrating our ACV India team with our teammates at the ACV tech hubs in Paris, France; Toronto, Ontario and Buffalo, NY."

Open positions at ACV India can be found at www.acvauctions.com/careers-acv-india.

About ACV

ACV is on a mission to transform the automotive industry by building the most trusted and efficient digital marketplace and data solutions for sourcing, selling, and managing used vehicles with transparency and comprehensive insights that were once unimaginable.

ACV offerings include ACV Auctions, ACV Transportation, ACV Capital, ACV MAX, True360, and ClearCar. For more information about ACV, visit www.acvauto.com.

Trademark reference: ACV, the ACV logo, and ClearCar are registered trademarks or trademarks of ACV Auctions, Inc., or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.