Rollick Inc., which operates the GoRollick powersports, RV, and boat buying program marketplace, has closed $8.5M in funding. The new investment comes from strategic investors Sandbox Insurtech Ventures and TechNexus Venture Collaborative, as well as Dallas Venture Capital, Congress Avenue Ventures and London Technology Club. LiveOak Venture Partners, Silverton Partners, Autotech Ventures, ManchesterStory, Anthem Venture Partners and Capital Factory continued their support in this round of financing.
The current round brings the total capital invested in the company to $22M. Rollick executed initial program rollouts with several strategic partners in the second half of 2020 including finance and insurance providers, and powersports manufacturers. The new funds will be used to expand these programs nationwide and secure new programs from recreation industry players wanting to tap into Rollick’s growing customer base.
“Rollick is truly unique in the way it has established a platform with both high quality buyers from its affinity partners, and how it’s positioned itself within the purchase process of powersport, RV and boat products,” said Christopher Zock, Sandbox Insurtech Ventures managing director. “New and innovative ways to market and originate insurance policies is an important focus for both our fund and insurance company partners.”
“The recreation category has seen unprecedented growth in the second half of 2020 as people look for ways to get outdoors, have fun, and stay safe during the pandemic” said Bernie Brenner, Rollick founder and CEO. “We set out three and half years ago to help recreation dealers and manufacturers provide a deeper digital engagement with consumers, creating a higher quality transaction and increasing customer satisfaction.”
According to the RV Industry Association, the industry has been surging in terms of growth with over 420,000 units sold in 2020 with an expectation of over 500,000 in 2021.
New-model powersports sales increased 18.4 percent in 2020, with motorcycle and scooter sales rising 11.4 percent, according to the Motorcycle Industry Council Retail Sales Report. Interest in off-highway motorcycles spiked, with sales up 46.5 percent year-over-year. Sales of ATVs also jumped, rising 33.8 percent over 2019.
The National Marine Manufacturers Association (NMMA) reported that sales of new powerboats rose in 2020 by roughly 12% compared with 2019. More than 310,000 new powerboats were sold in 2020, levels the recreational boating industry has not seen since before the 2008 recession.
Due to this increased consumer demand and to address COVID-19 concerns and mandated dealership closures, Rollick launched the “Buy From Home” program in late April 2020 across its national dealer network. This program is available to members of Rollick’s private-labeled vehicle buying programs including Sam’s Club, AAA, Progressive Insurance, as well as active military, veterans and first responders.