DENVER – DealerPeak, a CRM dedicated to making the industry regain their love of selling cars, recently raised $3.075 million in an oversubscribed financing round and introduced two new board members to the team.
Led by Geweke Auto Group out of California, along with participation from Tim Crown, a founder of Insight Enterprises (NASDAQ: NSIT), Jim Prendergast, co-founder of HealthiestYou (Acquired by Teladoc), and Zach Ferres, co-Founder of Coplex, the round will expand the DealerPeak team and set the stage for a Series A financing in the coming months.
In addition to announcing the round, DealerPeak also introduced investor Ferres as the Executive Chairman of the Board, and Michael Ashbaugh, as an Operating Partner. Together, the board and executive team at DealerPeak plan to relaunch the brand and establish DealerPeak as the leading, enterprise-wide CRM in the automotive industry.
“I’m excited to announce this round and begin building our DealerPeak team out even more. We all have a shared mission to bring the love of buying and selling cars back to the industry. I think somewhere along the way we’ve lost the relationship part of the CRM and we’re ready to reintroduce features and solutions to help dealers not only bring in new customers, but also grab some of the 80% of prospects who fall through the cracks,” said Ferres.
DealerPeak feels well positioned to help dealerships bring customers back to lots as sales recover from the chip shortage this summer and bolster their service business as retail demand wanes.
“As the red hot used market calms this Fall and dealers begin seeing inventory come back onto their lots, it will be important to have a strategy in place for communicating with prospects and customers to refill the sales pipeline,” said Matt Moore, CEO of DealerPeak. We feel we’re well positioned to help the industry not only sell more new cars, but communicate with lost prospects and service customers, in order to keep profits healthy across the board.”
DealerPeak’s best-in-class solutions automate the hard work of relationship building through real-time updates, customized workflows, desking solutions, and more. The aim is to bring joy back into the process, while helping each dealership contribute to a healthy bottom line.