August 13, 2024 – A group of 10 VC firms participated in a $3.7 million seed round in Chaiz, the industry’s first comparison marketplace for extended car warranties. Auto and tech industry veterans Ryan Hartman, Philippe Koenig, and Reto Bolliger, launched the Austin-based startup which is focused on bringing transparency, choice, and digitization to the extended car warranty market. It is… Continue Reading
August 8, 2024 — Tomball, TX-based 1876 Partners acquired Maverick Document Signings, Inc. (Mavsign) this week. Founded in 2007, Mavsign, led by CEO Jeff Eichelberger, grew into one of the country’s leading solutions for remote document closing, ID technology, fraud detection and mitigation services for automotive and recreational dealerships. The company has managed more than… Continue Reading
July 9, 2024—Impel is announcing this morning that it has acquired Outsell for more than $100 million cash plus equity. The deal, closed in late June, capped off a busy month of acquisition and investment activity in the auto retail space, during which nine transactions were announced. The acquisition pairs Impel, an early pioneer in… Continue Reading
May 15, 2024 — Serent Capital-backed CallRevu announced this week that it has acquired TotalCX from its founders, Gary Graves and Jack Behar. The deal is Serent Capital’s fourth investment in the automotive technology sector. It acquired fintech provider and auto retailer Tricolor Auto in 2010 (sold to Ganas Auto group in 2016), Motility Software,… Continue Reading
November 13, 2023 — CarOffer founder and serial entrepreneur Bruce Thompson is walking away with another $75 million in cash as CarGurus announced last week it is acquiring the final 49% of the Texas-based online used-vehicle trading platform. Zach Hallowell, whom CarGurus recently snatched from Cox Automotive’s Manheim division, will lead CarOffer following Thompson’s resignation.… Continue Reading
October 9, 2023 — An intriguing announcement in the electric and autonomous vehicle service and repair space last week as Kinetic, an Infrastructure-as-a-Service startup, announced a $10 million Series A capital raise. Focusing on the EV side of service, maintenance, and repair is a play we haven’t seen before, but makes sense as the auto… Continue Reading
October 9, 2023 — Since Lendbuzz CEO and Co-Founder Amitay Kalmar joined us on stage at the AUTOVATE conference in December last year, his company revenues jumped more than 80% in 2023, and has just announced a $45 million raise in equity funding along with $300 million a forward flow facility. The $45 million infusion… Continue Reading
August 15, 2023 — Since a recapitalization investment from the Houston-based Capstreet Group in 2021, TradePending has acquired two companies — AutoAPR in 2022, and Snapcell, a transaction announced this week. Snapcell, a SaaS automotive video marketing platform, was founded by Brent Williams in 2018 in the U.K. Its U.S. headquarters are in Tampa. It… Continue Reading
July 20, 2023 — On a blistering acquisition pace this year, The Reynolds and Reynolds Company announced its fourth purchase since January, picking up Xzilon, an Oregon-based vehicle protection and appearance solution provider. Xzilon, founded in 2003, offers F&I products that protect and enhance the exteriors and interiors of vehicles, boats, RVs, and motorcycles. Kevin… Continue Reading
July 18, 2023 — JM Family Enterprises Inc. is taking the lead in a new growth funding round for Skaivision, a computer vision artificial intelligence solutions provider for automotive dealerships. Mark Queen, Skaivision founder and CEO, unveiled the concept at the AUTOVATE conference in December 2021. Since then, he raised a seed round, including investment from dealers, developed the software,… Continue Reading