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Robert Powell, III// January 21, 2016//
.San Francisco-based Shift Technologies plans to invest $20 million in establishing its first East Coast operation in Arlington County. The project is expected to create 100 high-tech jobs.
Shift is a startup company that wants to change the experience of buying and selling cars. The company has created a marketplace using technology to connect car buyers and sellers.
Gov. Terry McAuliffe said the deal is the result of a meeting he had with company officials in California during a West Coast marketing mission in September.
The company has raised more than $73.8 million in total funding, with $23.8 million in its Series A round, led by DFJ and Highland Capital, and $50 million in Series B financing, led by Goldman Sachs Investment Partners.
The Virginia Economic Development Partnership worked with Arlington to secure the project.
Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
