Serent Capital-Backed CallRevu Acquires TotalCX, Bringing 2024 Industry Deal Total to 11

Serent Capital-Backed CallRevu Acquires TotalCX, Bringing 2024 Industry Deal Total to 11

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

CarGurus to Acquire Remaining Minority Interest in CarOffer, Following a Somewhat Choppy Ride

CarGurus to Acquire Remaining Minority Interest in CarOffer, Following a Somewhat Choppy Ride

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

Lendbuzz Obtains $45 Million Capital Raise

Lendbuzz Obtains $45 Million Capital Raise

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

Cliff Banks - The Banks Report

TradePending, With Investor Capstreet, Acquires Snapcell

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

Cliff Banks - The Banks Report

Reynolds and Reynolds Adds 4th Company in 2023

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

JM Family Leads Capital Raise in Skaivision

JM Family Leads Capital Raise in Skaivision

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