Emergence Acquires UAE’s AlgoDriven in 100% Cash Deal

Dubai, U.A.E. – Emergence, the San Francisco-based investment firm backed by The Pritzker Organization, has announced the full acquisition of Dubai-based automotive AI and data platform AlgoDriven in a 100% cash transaction.

Founded in 2017 by Glenn Harwood (CEO) and Jaron Crossland (COO), AlgoDriven provides proprietary artificial intelligence software enabling car dealerships to appraise, value and trade used vehicles in the $1.6 trillion global used car market.

The Company is #1 in automotive software appraisal in the MENA region and #1 in Australia, where one in every three used cars sold is analysed by AlgoDriven’s technology. Annually, the platform values over $25 billion worth of used cars across more than 1,000 dealerships in 10 countries, primarily in Australia/New Zealand and MENA.

Since its 2021 Series A round, AlgoDriven has scaled revenue 5x, remained profitable, and will continue operating under its existing brand post-transaction.

Emergence will act as a permanent equity partner, deploying fresh capital to support expansion into the U.S. and LATAM markets, while enhancing the platform’s cutting-edge AI capabilities to enable autonomous valuation, buying and selling of used vehicles.

This marks Emergence’s fourth automotive data acquisition in the past 18 months, following deals for Pureinfluencer, NYVUS, and AutoHub.

The transaction requires no further regulatory approvals and provides an immediate cash exit for investors including Oman Technology Fund, Global Ventures, 500 Global, Automotive Ventures, Oraseya Capital, and Social Capital.