AutoLeadStar, a Miami, FL-based digital customer data and experience platform for the automotive industry that transforms the way cars are sold, announced that it raised $40 million in growth funding.
The round was led by Riverwood Capital, with the participation of existing investors including PICO Venture Partners, Target Global, and Aleph.
The company is committed to continuing to disrupt the automotive industry with innovative AI-powered products, supporting its customers by scaling its team to meet demand and enhancing its company infrastructure alongside its accelerated growth plan.
AutoLeadStar is an AI-powered marketing automation technology provider to auto dealers and manufacturers, enabling personalized marketing, digital commerce, and consumer engagement that informs and executes millions of decisions a day.
“The customer car purchasing experience is rapidly changing and the automotive industry is thirsty for new technologies to serve the modern consumer,” said AutoLeadStar co-founder and CEO Aharon Horwitz. “AutoLeadStar is the industry’s premier tech lab, where we partner with dealers to envision the robust digital systems, online processes, and software they need for an increasingly digitized business landscape. We are excited to partner with Riverwood Capital to double down on and expand our investment in the technology we can provide for auto retailers. Car dealerships are massive drivers of economic growth and value in communities, and especially given the current economic climate, we are proud to be helping dealerships succeed in the digital era. ”
For the past few years, AutoLeadStar has grown its revenues and scale by more than 100% year over year. The company's software is used by nearly 1,000 dealerships across the United States and Canada, including many of the top dealer groups, to intelligently automate previously siloed, outdated, and manual systems.
Company: AutoLeadStar Inc.
Raised: $40.0M
Round: Growth Funding
Funding Month: November 2022
Lead Investors: Riverwood Capital
Additional Investors: PICO Venture Partners, Target Global, and Aleph
Company Website: https://www.autoleadstar.com/
Software Category: Customer Data and Experience Platform (CDXP)
About the Company: AutoLeadStar is the automotive retail industry’s Customer Data and Experience Platform (CDXP), which unifies dealership’s first-party data and leverages it to create seamless omnichannel marketing campaigns that sell more cars with less cost. AutoLeadStar’s full-stack technology includes SEM and social digital marketing automation, on-site intelligence and engagements, VIN-level marketing strategy, smart email marketing, and CRM lead activation. Used by nearly 1000 dealerships across the United States and Canada, including many of the top 150 dealer groups, AutoLeadStar’s CDXP is advancing dealer technology adoption in this enormous segment of the economy.
Source: https://blog.autoleadstar.com/40-million-dollar-growthround/