AutoLeadStar co-founders (company pic)
AutoLeadStar, an Israeli startup based in Jerusalem that offers a digital customer data and experience platform for the automotive industry, raised $40 million in a Series C growth round of investment led by Riverwood Capital with the participation of existing investors. This brings the company’s total investment to $57 million to date.
So, Mobileye is not the only firm to come out of Israel Startup Nation that deals with automotive technologies. And it is not every day that a breakout new Startup Nation firm comes out of Jerusalem. They are usually based somewhere in the greater Tel Aviv area.
AutoLeadStar offers AI-powered marketing automation technology for auto dealerships and manufacturers —powered by its “Customer Data and Experience Platform” (CDXP). The tech is already used by more than 1,000 dealerships across North America.
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A CDXP is a technology solution that helps a business measure, manage and improve digital customer experience, by collecting information about each customer’s interactions with the company, analyzing it and interpreting outcomes and responses.
And, as AutoLeadStar explains, data connectivity is the process of taking siloed, disjointed data and connecting it together into one organized, cohesive system. This keeps modern businesses productive and in line with customer expectations today. When your data is connected, you can leverage machine learning, artificial intelligence, and predictive analytics to make data-driven decisions for marketing, sales, and other departments.
The company also offers Data orchestration: the automation of data processing and data-driven decision making. Once the data sources are connected, data orchestration turns the consolidated data into marketing action that translates into a seamless customer shopping experience.
The iconic car dealership sector has been a fixture of US culture since the early 1900s, says AutoLeadDealer. In the US alone it is more than a $1.5 trillion-dollar industry with a $150 billion annual spend on advertising, people, and operations and deep ties to local and regional economies, yet it remains ripe for digital transformation.
“The customer car purchasing experience is rapidly changing and the automotive industry is thirsty for new technologies to serve the modern consumer,” said AutoLeadStar co-founder and CEO Aharon Horwitz. “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.”
