Wednesday, July 6, 2022
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TrueCar acquires this digital retailing provider, Polly closes deal with marketing and analytics firm

Welcome to this episode of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies.

This week, I am back on the road, spending the early part of the week in San Diego, and the latter part in Dallas.

So with that, let’s dig into the AutoTech deals of the week.

Polly & Driven Data Technology

First up this week, Polly (formerly DealerPolicy), the leading insurance marketplace for automotive retail, has closed on an acquisition of automotive marketing and analytics company Driven Data Technology.

Founded in 2013, Driven Data’s mission is to leverage data across a plethora of automotive retail systems to help the automotive community attract high-value customers more efficiently. Comprised of data normalization, custom audience creation, and a powerful analytics dashboard, Driven Data’s highly secure and hyper-personalized, open integration platform seamlessly integrates and connects first-party data across multiple sources, giving dealers the confidence they need to make smart decisions that can be easily measured by way of attribution.

This acquisition expands Polly’s industry-leading customer engagement capabilities by leveraging secure, first-party data to target in-market car shoppers and service customers more precisely with timely and personalized messaging. The acquisition fits perfectly into Polly’s broader commitment to help dealers deliver a better-than-expected customer experience while creating significant new revenue opportunities.

Congratulations to Jon Berna and the Driven Data team.

TrueCar & Digital Motors

Next up this week, TrueCar announced its acquisition of Digital Retail software provider Digital Motors.

Digital Motors’ automotive retail and financial technology platform gives auto dealers, OEMs, lenders, and other stakeholders the ability to augment their physical presence with a digital storefront or marketplace that offers a seamless omnichannel car buying experience to consumers.

The acquisition is intended to accelerate TrueCar’s plan to deliver a robust digital car buying and selling experience with its TrueCar+ marketplace.

Congratulations to Andy Hinrichs, Nick Stellman, and the entire Digital Motors team.

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Through Automotive Ventures, I’m going to be on the lookout for clever dealer technology startups that are solving big dealership needs for our new DealerFund.

If you’re an early-stage company working on a unique solution to help dealers, let me know. I’d love to talk to you.

Companies To Watch

Every week we highlight interesting companies in the automotive technology space to keep an eye on. If you read my monthly industry Intel Report, I showcase a few companies each month, and we take the opportunity here on the Friday Five to share some of those companies each week with you. 

Today, we have two companies to watch: Invisible AI and Zendar.

Invisible AI

Our first Company to watch this week is Invisible AI.

Invisible AI’s vision platform tracks real-time human motion to help customers run accurate, reliable and safe operations. They use Computer Vision technology to optimize production lines.

Invisible AI automates manual work tracking using intelligent cameras, and allows customers to realize results within minutes.

The company focuses on workforce quality, safety, and productivity.

Check out Invisible AI at www.invisible.ai.

Zendar

Our second company to watch this week is Zendar.

Zendar is building the highest resolution automotive radar in the world.

Their product combines the benefits of radar, such as long-range and all-weather operation, with the resolution of lidar.

Zendar aims to make autonomous driving safe and accessible for everyone.

Check out Zendar at www.Zendar.io.

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So that’s your weekly Friday 5, a quick wrap-up of the big deals in the automotive technology space over the past week.

If you’re an early-stage automotive technology entrepreneur looking to raise money, or an entrepreneur who is trying to decide whether and when they should raise money or sell their business, I’d love to speak with you.

Thank you for tuning into CBT News for this week’s Friday Five, and we’ll see you next week!


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Steve Greenfield
Steve Greenfield
Steve is the Founder and CEO of Automotive Ventures, an automotive technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. They also assist PE firms to conduct due diligence on automotive technology acquisitions, advise technology CEOs on strategy, and help represent sellers at the time of sale.

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