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MIAMI and JERUSALEM, Nov. 7, 2022 /PRNewswire/ — AutoLeadStar, the digital buyer knowledge and expertise platform for the automotive business that transforms the method automobiles are offered, introduced in the present day a $40 million development spherical of financing led by Riverwood Capital with the participation of present buyers.
AutoLeadStar is the main AI-powered advertising and marketing automation know-how for auto-dealerships and producers —powered by its “Customer Data and Experience Platform” (CDXP) — enabling customized advertising and marketing, digital commerce, and client engagement that informs and executes hundreds of thousands of choices a day. In an more and more digital economy the place over 65% of shoppers count on to finish most of the automobile shopping for course of on-line, AutoLeadStar facilitates seamless actioning of a data-informed technique for dealerships.
The iconic automobile dealership sector has been a fixture of US tradition since the early 1900s. In the US alone it’s greater than a $1.5 trillion-dollar business with a $150 billion annual spend on promoting, folks, and operations and deep ties to native and regional economies, but it stays ripe for digital transformation.
“The customer car purchasing experience is rapidly changing and the automotive industry is thirsty for new technologies to serve the modern consumer,” mentioned 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. “
AutoLeadStar has been rising its revenues and scale at over 100% year-over-year for the previous few years and the Company’s software program is used by practically 1,000 dealerships throughout North America to intelligently automate as soon as siloed, outdated, and handbook programs. In this new financing spherical, Riverwood Capital joins present buyers together with PICO Venture Partners, Target Global, and Aleph.
Francisco Alvarez-Demalde, Co-Founder and Managing Partner, Riverwood Capital commented: “AutoLeadStar is disrupting a market dominated by fragmented legacy solutions. The Company is providing dealerships with the most attractive software automation platform which consolidates data sources and implements hyper-targeted, sophisticated marketing campaigns to digitally engage with consumers, increasing sales, productivity, and ROI. Aharon and the AutoLeadStar team are incredibly driven. They have built a company that is anchored by a world class product platform and go-to-market team, and by a relentless focus on customer success and quality thus delivering tremendous growth and world class software metrics.”
Ramesh Venugopal joins AutoLeadStar’s mission in bringing top-tier know-how to dealerships as the latest board member. “We are excited about partnering with such a high energy and dynamic team as they continue to support the digitalization of the automotive retail sector.”
About AutoLeadStar
AutoLeadStar is the automotive retail business’s most trusted Customer Data and Experience Platform (CDXP), which unifies dealership’s first-party knowledge and leverages it to create seamless omni-channel advertising and marketing campaigns. Used by practically 1000 dealerships throughout North America, AutoLeadStar’s CDXP is advancing seller tech adoption on this huge phase of the economy.
About Riverwood Capital
Riverwood Capital invests in high-growth corporations in the know-how and technology-enabled industries. Riverwood gives a novel mixture of operational, strategic, know-how, and monetary perception to a selective group of portfolio corporations that can profit from development capital and experience to scale business. Riverwood has workplaces in Menlo Park, CA; New York, NY; Miami, FL; and São Paulo, Brazil.
SOURCE AutoLeadStar
