EvenFlow AI lands $1.5M seed funding to help put fixed ops inefficiency in rear-view mirror
With a round of seed funding announced Monday, EvenFlow AI might be given to fly.
The company, which provides artificial intelligence-powered tools to help dealership service departments increase capacity and optimize revenue, said in a release the $1.5 million round was led by Automotive Ventures and FM Capital.
EvenFlow AI anticipates the funding will yield further opportunities to “revolutionize service lane capacity management and revenue growth for automotive dealerships across North America.”
Its Software as a Service platform uses advanced algorithms and flexible configuration to help dealers optimally schedule service appointments, “scientifically load” service bays and utilize dynamic pricing.
This can drive service revenue increases of 10% to 25%, the company said. And that’s likely on the wish list for many dealerships striving to keep their operations in the black.
But with staffing challenges running deep, growing fixed operations is a whole other animal. It can be difficult for a service department to just breathe.
“With a perpetual shortage of service technicians, dealers are challenged to grow fixed operations through hiring alone and must find operational improvements. appointment scheduling is at the forefront of these efforts,” EvenFlow AI CEO and founder Dave Anderson said.
“Unfortunately, service managers have traditionally lacked the tools to effectively load their shop, resulting in the average dealership leaving 20% of revenue potential on the table,” he said. “Our solution equips dealerships with AI-driven tools that pace the flow of repair orders so every vehicle can be fully serviced while improving the overall customer experience.”
The company incorporates best practices from industries like airlines and healthcare that have fixed operational capacity, with the goal of helping dealers “optimally manage demand through predictive services” — from express oil changes and customer pay repairs to recall work.
Such improvements in the service department are vital in keeping profitability alive for dealerships, as there’s no immortality in variable-side revenues.
As such, EvenFlow AI says its platform “sets a new standard for service lane efficiency and profitability by leveraging network effects and AI learning.”
The company’s proprietary dataset can improve service scheduling accuracy and optimize revenue as it scales, EvenFlow said.
“FM Capital sees EvenFlow AI as a leader in the AI-based transformation of dealership service departments,” FM Capital managing partner Chase Fraser said. “The solution’s ability to streamline service lane operations while delivering significant revenue growth potential aligns with our investment focus on high-impact, scalable technologies.”
Automotive Ventures general partner Steve Greenfield added, “EvenFlow AI represents an exciting convergence of AI, process automation, and analytics aimed squarely at addressing a critical need for dealerships: operational efficiency in fixed operations. By improving capacity management and revenue yield, EvenFlow AI is poised to transform how dealerships handle service demand and deliver a higher level of customer satisfaction.”