$19.7 million in Series A investment was secured by Tampa, Florida-based Stella Automative AI, a supplier of automotive artificial intelligence technologies.
Together with recently invested funds, the raise also comprised existing convertible notes that were converted into this Series A issue.
Investors
- Reynolds & Reynolds
- MileOne Autogroup
- Qvale Auto Group
- OREMOR Automotive Group
- Mills Automotive Group
- Bowers Automotive Group
- Flow Automotive
- MBB Auto Group
- Ford Family Investments
- West Herr Auto Group
The money will be used by the business to promote further product development and advancement as well as market expansion.
StellaAutomotive AI, under the direction of CEO Rich Sands, offers automotive AI technology that aids car dealers in providing a client experience online, over the phone, and through chat. Its AI assistant, which is educated on a variety of automotive retail issues, can answer commonly asked inquiries, book servicing and sales appointments, and handle incoming calls concurrently while conversing in natural language.
The company’s solutions are compatible with dealership software that is now available from businesses like Reynolds and Reynolds, which gives auto merchants access to the whole Retail Management System.
About STELLA Automotive AI
STELLA™ Automotive AI, Inc. (“STELLA”) is a top provider of vehicle AI technology. Tampa-based STELLA helps car dealers provide a full and intelligent client experience via phone, chat, and online. STELLA’s digital assistant answers and routes calls, books appointments, and answers car sales and service FAQs like a staff person. STELLA analyzes consumer activity on old software infrastructure and reports to dealers. Every week, dealership groups add STELLA outlets and handle tens of thousands of client calls 24/7.
