Numa's AI-Powered Transformation of Car Dealerships

Numa, a provider of artificial intelligence software for car dealerships, has announced the closure of a $32 million Series B investment. The funding round was jointly led by Touring Capital and Mitsui Group, a Tokyo-based conglomerate, with participation from returning backers, including Google LLC's Gradient Ventures startup fund.

Revolutionizing the Car Dealership Experience

Streamlining Day-to-Day Operations

Numa, officially NumberAI Inc., offers a cloud platform that aims to enhance the efficiency of car dealerships' day-to-day operations. At the heart of the software is a voice assistant that can handle sales calls and texts from customers. The AI-powered assistant collects key details about customer inquiries and routes them to the most suitable dealership employee to provide a response. This automation not only saves time but also ensures a more seamless customer experience.Beyond the voice assistant, Numa's platform also automates several related tasks. It can analyze sales inquiries to extract customer intent data, which can then be leveraged in marketing efforts. Additionally, the software manages the process of scheduling dealership appointments, freeing up employees to focus on other important tasks.

Enhancing the Repair and Maintenance Process

When a car is being repaired, Numa's platform enables dealership mechanics to send customers regular status updates on the maintenance process. This transparency and communication can help build trust and improve customer satisfaction. On the sales side, the software also assists representatives in negotiating trade-ins, a crucial aspect of the car-buying experience.

Preventing Lost Leads

Numa's platform also addresses the challenge of preventing potential customers from choosing a competing dealership. The software can send reminders to customers who have expressed interest in making a purchase but have not followed up, helping to keep the dealership top of mind and increase the chances of a successful sale.

Seamless Data Integration

Dealerships often rely on specialized applications called DMS (Dealership Management System) to store sales data and other business information. Numa's platform includes integrations that can automatically sync data collected about sales opportunities with a dealership's DMS system. This not only saves time but also helps to avoid the errors that can occur during manual data entry.

Building the AI-Native Dealership

According to Numa's co-founder and Chief Executive Officer, Tasso Roumeliotis, the company is "building the AI-native dealership — rearchitecting how dealerships run at their core." This ambitious goal is reflected in the company's rapid growth, with its installed base now including around 600 car dealerships in the U.S. and Canada.Numa's revenue has reportedly grown by more than 2,200% over the past three years, driven by strong demand for its innovative solutions. While the company is not yet profitable, it is said to be "just about cash-flow break-even."To maintain its growth trajectory, Numa plans to accelerate the pace at which it releases new features. The company will use its newly raised funding to hire more AI engineers, supporting the development push and further enhancing its AI-powered offerings for car dealerships.