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Menlo Park, California based online auction company, OpenLane, has raised $10 million in the eight round of funding. With this round of funding, the total amount raised by the company has reached $75 million. The current amount is raised from VC firms including Meritech Capital Partners, August Capital, RPM Ventures and Zilkha Venture Partners.

In the previous round of funding led by Meritech six months ago, the company raised $25 million. In 2007, OpenLane sold around 270,000 cars which resulted in a revenue of $60 million.