Miami, the U.S.A-based digital customer data and experience platform for the automotive industry, AutoLeadStar, raised USD 40 million in a growth round. The company raised funds on November 7, 2022. Riverwood Capital led the financing for the firm. Meanwhile, the company saw participation from existing investors, PICO Venture Partners, Target Global, and Aleph.
Purpose of funding by AutoLeadStar
With the latest investment from the growth round, the company has plans to invest in its technology offerings to auto retailers.
What the company’s co-founder has to say
AutoLeadStar co-founder and CEO Aharon Horwitz said, “The customer car purchasing experience is rapidly changing, and the automotive industry is thirsty for new technologies to serve the modern consumer. 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. “
What the investor has to add
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.”
About the company
In 2016 founders Aharon Horwitz, Eliav Moshe, and Yishai Goldstein launched the company. AutoLeadStar is a U.S-based most trusted Customer Data and Experience Platform (CDXP). The company unifies the dealership’s first-party data and leverages it to create seamless omnichannel marketing campaigns. Nearly 1000 retailers across North America use the company’s platform. It has been growing its revenues and scale at over 100% year-over-year for the past few years. The company is a leading AI-powered marketing automation technology for auto dealerships and manufacturers. Its platform allows for personalized marketing, digital commerce, and consumer engagement that informs and executes millions daily decisions.
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