SAN FRANCISCO -

Joyride Autos, which is online auction platform that provides a marketplace for “undervalued” cars, has brought on a former IAA executive as its first-ever chief product and technology officer.

Hired for that role is John Krupnik, who was chief information officer at IAA for 14 years.

“We’re the first mover in a market that historically has been overlooked, and technology innovation is going to be key to our continued success,” Joyride co-founder and chief executive officer John Wicker said in a news release.

“Krupnik is a brilliant technologist with a deep understanding of the problems we’re solving for both sellers and buyers of the growing supply of undervalued vehicles — a category that has never before had a dedicated marketplace,” Wicker said.

In the new position, Krupnik will lead the scaling of the platform while also developing and leading the product, engineering and analytics teams.

“I’ve spent my career in the world of auto auctions, and I’ve never seen a moment that’s more ripe for innovation,” Krupnik said in a news release.

“The accelerated shift to e-commerce, global supply chain shortage for cars and their parts, and increased average age of vehicles on our roads have all contributed to Joyride’s remarkable early momentum,” he said. “The opportunity to help lead the Joyride team and innovate in this underserved yet rapidly growing category was an obvious decision for me.”

The Joyride platform is designed to ease the selling and buying of unclaimed and aged vehicles through online auctions.

It launched in April 2020 and has sold 30,000 vehicles through the platform. Joyride is available in California, Texas, Indiana and Nevada. The company plans to use a recent $2 million seed funding round to expand into new markets.