Private equity investment firm Sverica Capital Management announced it has closed on a continuation fund transaction for Stream Companies Holdings, a provider of marketing software and services for auto dealers and OEMs. In a news release, Sverica said the transaction marks a milestone in its partnership with Stream and underscores its continued commitment toward supporting […] [Read More]

Autosoft’s owner is stepping down from his role as CEO. The dealership management system technology provider announced Bryce Veon, the sole owner of the family-owned and operated company, will transition out of the top leadership position, effective in February. Anthony Belcher, who joined AutoSoft in April as chief revenue officer and moved to chief operating […] [Read More]

UVeye just picked up another big financial boost. The company announced Wednesday it has received $191 million of funding from investors led by Woven Capital. UVeye said the funding will be used to help it meet “surging global demand” for its AI-driven vehicle inspection technology, which it said is nearing 1 million vehicles scanned every […] [Read More]

We continue our episodes of the Auto Remarketing Podcast originating from Used Car Week 2024 in Scottsdale, Ariz., with a Speed Session featuring Julie Lawton, who is vice president of sales with ACERTUS. Lawton offered several suggestions for technology dealers need for operational excellence. Listen to the episode in the window below and stay tuned […] [Read More]

Orbee, a provider of automotive data management and middleware software, announced it has received additional capital funding from investors that include two dealership groups. The company plans to use the funding to expand its sales and customer support efforts and accelerate its ongoing product development. The amount of the investment was not disclosed. The Presidio […] [Read More]

Artificial intelligence technology provider Impel is joining with FordDirect in a strategic partnership to bring Impel’s conversational AI products to Ford dealers and Lincoln retailers nationwide. FordDirect is a joint venture between Ford Motor Company and its franchise dealers that serves as the data hub connecting them. Through a direct integration with FordDirect’s Customer Journey […] [Read More]

The most important information an electric vehicle buyer can have is the condition of its battery. So Autotrader is bringing that information to its EV listings. The Cox Automotive brand announced it will make EV battery health scores available on its used electric vehicle listings, aiming to give shoppers “a fuller picture” of the battery’s […] [Read More]

Cox Automotive’s vAuto announced the launch of two enhancements to ProfitTime GPS and its Provision platform. The company introduced Centralized Inventory Management to support dealer group oversight by streamlining operations, enhancing transparency and delivering actionable insights; and a new appraisal experience, designed to help dealers win more trade-ins in the current supply-constrained used-vehicle market. The […] [Read More]

Like much of the auto retail industry, CDK is heading for the NADA Show, which opens Thursday in New Orleans, where the dealership software provider plans to showcase the Hybrid Intelligence used by its Dealership Xperience platform. While artificial intelligence processes data through pattern recognition, the company said, it lacks human reasoning, creativity and real-world […] [Read More]

KeyTrak, a provider of key and asset management systems, is building on its partnership with real-time location services company TrueSpot with a system designed to allow dealership personnel to locate vehicles and their keys faster from the palm of their hand. The companies will unveil their new tool at this week’s NADA Show in New […] [Read More]