Dubai-Based Automotive AI Platform AlgoDriven Acquired By San Francisco-Based Emergence
Inc. Arabia spoke to AlgoDriven co-founder and CEO Glenn Harwood to unpack what the acquisition means for his company's next phase of growth.
Dubai-based automotive artificial intelligence (AI) platform AlgoDriven has been fully acquired by San Francisco-based investment firm Emergence in a 100 percent cash transaction, thereby delivering an immediate exit for the startup's existing investors, while also marking a new phase of international expansion for the company.
Emergence, which invests in high-potential software companies, is backed by US-based private investment and asset management firm, The Pritzker Organization, and it will act as a permanent equity partner following the acquisition. The deal, which requires no further regulatory approvals, will provide a full cash exit to AlgoDriven's backers, including Oman Technology Fund, Dubai-based Global Ventures, US-based 500 Global, US-based Automotive Ventures, Dubai-based venture firm Oraseya Capital, and US-based investment firm Social Capital.
Founded by Glenn Harwood and Jaron Crossland in the UAE in 2017, AlgoDriven provides AI-powered software and data tools that help car dealerships appraise, value, and trade used vehicles across the US$1.6 trillion global used car market. In an interview with Inc. Arabia, Harwood, co-founder and CEO of AlgoDriven, shared how the idea for the business emerged from the entrepreneurs’ years in dealership management roles across Australia and the Middle East, where they encountered repeated challenges around pricing accuracy and speed.
"We experienced first-hand how difficult it was to accurately value and trade used cars—despite it being one of the most critical profit drivers for dealerships," Harwood said. "We built the product we wished we’d had ourselves. What started in the UAE and Australia has grown into a platform now used in over 1,000 dealerships across 10 countries. Our mission is simple: to bring data, intelligence, and automation to the used-car lifecycle—helping dealers price better, trade smarter and respond to customers faster."
AlgoDriven today values more than $25 billion worth of used vehicles annually, working with dealerships representing global automotive brands including Toyota, Mercedes-Benz, Ferrari, BYD, Audi, Volkswagen, Hyundai, Stellantis, General Motors, and Ford. While Australia, New Zealand, and the MENA region are its core markets today, Emergence's acquisition of AlgoDriven is set to see it expand into the US and Latin America markets, while also further investing in advanced AI capabilities across the company's platform.
According to Harwood, the decision to have AlgoDriven join forces with Emergence was driven by long-term strategic considerations. “From our first conversations, Emergence demonstrated a deep understanding of the automotive software landscape and the specific challenges dealers face in the used-car market," he said. "What stood out wasn’t just capital—it was alignment. They share our long-term vision of building an integrated software ecosystem that improves dealership efficiency across valuation, inventory, and customer engagement. Their experience scaling vertical software-as-a-service businesses, combined with their permanent capital backing, gives us the resources and strategic depth to accelerate innovation in our next chapter of growth.”
AlgoDriven’s acquisition follows a period of sustained profitability and rapid growth since its 2021 Series A round, during which the company reported a fivefold increase in revenue. It also claims to be the leading automotive software appraisal platform in both the MENA region and Australia, where one in every three used cars sold is analyzed using its technology. Now, as the company enters its new chapter, Harwood sees the next phase for AlgoDriven as an opportunity to address long-standing structural gaps in how used vehicles are assessed and managed.
“The used-car lifecycle has historically been fragmented and under-digitized," Harwood said. "Every used vehicle is unique—condition, mileage, specification, and market demand all create complexity that traditional systems struggle to manage. This is where AI becomes transformational. Using our tools, such as Pricing AI, AI vehicle damage detection, and AI enquiry management, we’re now able to bring structure and intelligence to what was previously manual and inconsistent. The opportunity isn’t just efficiency—it’s delivering a first-class experience for both dealers and consumers in what has traditionally been a high-friction part of the automotive journey.”
For regional founders considering global exits, Harwood points to the importance of building solutions grounded in practical industry needs. “There’s a common belief that automotive is slow to adopt new technology," Harwood said. "In reality, dealers are highly pragmatic—they adapt quickly when the value is clear and measurable. The key is balance—understanding the operational realities of the industry deeply enough to build trust and relevance, while still bringing in best-in-class thinking from other sectors. The automotive industry has always operated on tight margins—so when car dealers can see true return on investment from technology, they're always quick to adopt.”
Pictured in the lead image is AlgoDriven co-founder and CEO Glenn Harwood. Image courtesy AlgoDriven.
