Israeli AI-powered car marketing data company AutoLeadStar today announced the completion of a $40 million growth financing round led by Riverwood Capital with the participation of existing investors including PICO Venture Partners, Target Global, and Aleph.
AutoLeadStar provides AI-powered marketing automation technology to auto-dealerships and manufacturers, allowing personalized marketing, digital commerce that enhances and informs consumer decisions and enabling them to complete most of the car buying process online, AutoLeadStar’s Customer Data and Experience Platform integrates data silos from sales, inventory, marketing, and commerce, into a single platform, and also facilitates data-informed strategy for dealerships.
With offices in Jerusalem, Tel Aviv and the US, the company was founded by CEO Aharon Horwitz, CTO Yishai Goldstein, and CPO Eliav Moshe.
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. "
AutoLeadStar has grown revenue by over 100% year-over-year for the past few years and the company’s software is used by nearly 1,000 dealerships in the US and Canada, including many of the top dealer groups, to intelligently automate once siloed, outdated, and manual systems.
Published by Globes, Israel business news - en.globes.co.il - on November 7, 2022.
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