NEW YORK--(BUSINESS WIRE)--automotiveMastermind, the leading provider of predictive analytics and marketing automation software for the automotive industry, today announced it has received a strategic growth investment from JMI Equity, a growth equity firm focused on investing in leading software companies. The funding, which marks the first institutional capital in the company, will fuel automotiveMastermind's continued rapid growth. The investment will help further accelerate the company’s revolutionary technology platform, pursue business development opportunities through product expansion, and solidify its market leading customer service and support.
automotiveMastermind’s management team, led by its co-founders and co-CEOs Marco Schnabl and Johannes Gnauck, will continue to lead and control the company. Mr. Schnabl will remain focused on sales, service, and operations and Mr. Gnauck will continue his responsibilities for product development, technology, and the product roadmap. As part of the transaction, David Greenberg, a General Partner at JMI Equity, will join automotiveMastermind’s Board of Directors.
Founded in 2012, automotiveMastermind’s cloud-based technology helps dealers precisely predict automobile-buying behavior and automates the creation of micro-targeted consumer communications, leading to proven higher sales and more consistent customer retention. automotiveMastermind currently works with Mercedes-Benz, BMW, MINI, Audi, Cadillac, Honda, Lexus, and Acura, and plans to aggressively expand its prestigious roster of partner OEMs.
“automotiveMastermind is changing the way automotive dealerships and manufacturers find, engage, and win consumers,” said Mr. Schnabl. “Our company continues to grow at a record pace, having tripled the number of dealer partners in the last year while maintaining an unprecedented 99% retention rate. We are pleased to welcome JMI as our new investment partner to provide additional capabilities to accelerate our growth trajectory.”
“JMI has a tremendous amount of experience in helping companies in our space and at our stage of development,” added Mr. Gnauck. “Having clearly recognized the unique and innovative ways our technology can connect retailers and consumers more effectively, we look forward to working with JMI to increase transparency in the purchasing process and reshape the way automobiles are bought and sold.”
“automotiveMastermind is one of the fastest growing vertical market software companies we have come across and is well positioned for continued growth and further penetration of the multi-billion-dollar automotive dealership market," said Mr. Greenberg. “The company and its leadership team have built a great business, backed by an innovative, data-driven technology platform that quite simply empowers its dealer customers to profitably sell more cars. We are very excited to partner with the automotiveMastermind team to help them achieve the next phase of innovation, growth, and future success.”
Jefferies LLC acted as Sole Placement Agent for automotiveMastermind in connection with this investment.
Founded in 2012, automotiveMastermind provides predictive analytics and marketing automation software for the automotive industry. The Company’s cloud-based technology helps dealers precisely predict automobile-buying behavior and automates the creation of micro-targeted consumer communications, leading to proven higher sales and more consistent customer retention. automotiveMastermind currently works with hundreds of dealerships from various automotive manufacturers, including Mercedes-Benz, BMW, MINI, Audi, Cadillac, Honda, Lexus, and Acura, and has plans to double that in 2017. automotiveMastermind is headquartered in New York City and San Francisco and has grown its employee count by 200% in the last year. For more information, visit automotivemastermind.com.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 120 businesses in its target markets, successfully completed over 85 exits, and raised more than $3.0 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.