Digital Motors’ highly configurable platform can power an integrated digital retailing experience ranging from Tier 1 to 3 websites.Tweet this
Based in Silicon Valley, Autotech Ventures is a venture capital firm managing more than $270 million that focuses on the $3 trillion ground transportation industry.
“Autotech Ventures validates our strategy and broadens our circle of influence,” exclaimed Andy Hinrichs, Founder and CEO of Digital Motors. “By partnering with the best investors and operators in the automotive business, we are able to shift into high gear.”
“The automotive industry is facing an increasing demand for digital sales processes to create efficiency and improve the consumer experience,” stated Alexei Andreev, Managing Director of Autotech Ventures. “Digital Motors’ highly configurable platform can power an integrated digital retailing experience ranging from Tier 1 to 3 websites.”
Digital Motors operates a digital retailing platform and intelligent FinTech configuration engine, enabling car dealerships to fully transact with their customers online. Car shoppers can complete the entire transaction online or seamlessly transition to the dealership at any step in the process.
Autotech Ventures led the financing round and its Managing Director Alexei Andreev has joined the company’s Board of Directors. Other investors in Digital Motors include Jaguar Land Rover’s London-based InMotion Ventures, OpenRoad Auto Group, renowned automotive industry expert and author Maryann Keller, and Ryan Kerrigan, Managing Director of Kerrigan Advisors – the leading auto dealer sell-side advisor in the U.S.
“Dealers recognize the importance of transacting online, in real time, with all parts of the deal integrated,” stated Christian Chia, CEO of OpenRoad Auto Group. “There is particular urgency in preowned where customers are ready and willing to buy online.”
“Digital retailing is not about online transactions vs. in-store sales,” remarked Sebastian Peck, Managing Director of InMotion Ventures. “Digital Motors combines these channels to create a seamless car buying experience for all parties involved.”
“The auto industry is evolving from lead generation to a transaction-based business model,” said Maryann Keller. Added Ryan Kerrigan, “Digital Motors is innovating in exactly the right area – the way in which digital retailing will integrate with the current dealership model, still allowing dealers full control over their processes and economics. This is the future.”
SOURCE Digital Motors