CarVertical

  1. Home
  2. Wiki

CV Group, UAB
carVertical
Company typePrivate limited company
IndustryInformation technology
Founded2017
Key people
Rokas Medonis (CEO)
ServicesVehicle history checks
Revenue€53,998,159 (2024)[1]
Number of employees
159 (2025)
Websitewww.carvertical.com

Carvertical (stylized carVertical) is a Lithuanian information technology company that provides vehicle history reports. Founded in 2017, it operates in multiple regions through a website and mobile apps.

How it works

[edit]

Users request a report by entering a vehicle identification number (VIN) on carVertical’s platform. The company aggregates available records from public and commercial databases, such as registration, ownership, insurance, and governmental roadworthiness test data. Then generates a vehicle history report. The scope of information in a report depends on the data held by the contributing sources in each country.[2]

Information sourcing

[edit]

Listed as an approved NMVTIS (National Motor Vehicle Title Information System) data provider by the U.S. Department of Justice.[3] NMVTIS receives title, brand, and odometer records from U.S. state motor-vehicle titling agencies.[4] It also includes salvage and total-loss information reported by insurance carriers and by junk, salvage, and auto-recycling yards that handle salvage vehicles.[5][6] Consumer NMVTIS reports typically show current title status, brand history, the most recent odometer reading, and, where available, theft data.[7] NMVTIS does not include full repair histories.[8]

According to CITA (International Motor Vehicle Inspection Committee), the company provides vehicle history reports in 28 countries, with coverage extending across most of Europe, the United States, Mexico, and Australia.[9] As an NMVTIS data provider, its U.S. reports draw on participating state motor-vehicle titling agencies and cover vehicles such as passenger cars, buses, trucks, motorcycles, recreational vehicles, motor homes, and tractors.

Information sourcing disputes

[edit]

In June 2023, the Lithuanian Court of Appeal partly upheld a claim by Diginet LTU, the operator of Autoplius.lt, against carVertical. The court found that data from the Autoplius.lt classifieds database had been extracted and reused without authorization. It ordered the company to stop using those data in its reports and to delete previously obtained records. The court also awarded compensation of 1000 units of the minimum living standards (about €42 000 at the time) and litigation costs.[10]

History

[edit]
Former and current carVertical brandmarks
  • 2017 – The company was founded in Lithuania.
  • 2018 – Raised €16 million in funding.[11]
  • 2018 – Launched vehicle history reports in Estonia and Lithuania.
  • 2018 – Joined the MOBI initiative on blockchain use in the automotive industry.[12]
  • 2019 – Entered its first market outside Europe by launching reports in the United States.[13]
  • 2020 – Announced that annual revenue had quadrupled. The company then operated in 23 countries across Europe, North America, and Asia.[14]
  • 2021 – In March, the United Kingdom became the company's 25th market.[15]
  • 2023 – The company rebranded and updated its visual identity.[16]
  • 2023 – Ranked 26th in the Financial Times FT1000 list.[17]
  • 2023 – Won the LRT "Business Leadership of the Year" award.[18]
  • 2024 – Ranked 200th in the Financial Times FT1000 list.[19]

See also

[edit]

References

[edit]
  1. ^ "CV Group, UAB revenue and profit". rekvizitai.vz.lt (in Lithuanian).
  2. ^ Toks automobilis turėjo būti nurašytas (delfi.lt).
  3. ^ "Research Vehicle History". U.S. Department of Justice. Bureau of Justice Assistance.
  4. ^ "What is NMVTIS?". International Association of Chiefs of Police.
  5. ^ "NMVTIS Reporting Entities". Bureau of Justice Assistance (VehicleHistory.gov).
  6. ^ "Empowering Law Enforcement With NMVTIS Data". National Insurance Crime Bureau.
  7. ^ "NMVTIS consumer information". Virginia DMV.
  8. ^ "NMVTIS Consumer Access Product Disclaimer". NMVTIS Consumer Disclaimer.
  9. ^ "A new CITA member from Lithuania: carVertical". CITA International Motor Vehicle Inspection Committee. 5 March 2024.
  10. ^ "Vilniaus apygardos teismo Civilinių bylų skyriaus 2023 m. sausio 3 d. sprendimas civilinėje byloje Nr. e2-528-866/2023". Infolex (in Lithuanian).
  11. ^ Lietuvių ICO projektas pritraukė 16 mln. Eur (Verslo žinios).
  12. ^ "MOBI accelerates new mobility by adding participants and launching key working groups". MOBI.
  13. ^ „carVertical“ peržengė Atlantą (Verslo žinios).
  14. ^ Keturgubai šiemet augantis „carVertical“: pelningumo mus išmokė COVID-19 (Verslo žinios).
  15. ^ The UK left the EU to... become our 25th market (Twitter).
  16. ^ ""carVertical" starts with refreshed brand". VŽ (in Lithuanian). 17 May 2023. Retrieved 27 June 2025.
  17. ^ "FT 1000: Europe's Fastest Growing Companies 2023". Financial Times. Retrieved 19 June 2025.
  18. ^ "LRT annual awards presented" (in Lithuanian). LRT. 17 May 2023. Retrieved 19 June 2025.
  19. ^ "FT 1000: Europe's Fastest Growing Companies 2024". Financial Times. Retrieved 19 June 2025.
[edit]