Garry Kalk, Founder and CEO of Dealer-FX
“Inconsistent service advisor performance is one of the key forces driving customer distrust and defection, which is why 50 per cent of dealers plan to adopt Service Lane Technology over the next 18 months,” said Jake Hodgman, principal with HGGC, in a written release.
Dealer-FX’s SaaS-based solution spans the entire service experience and includes online appointment scheduling, service check-in and write-up process, electronic technician dashboards, and predictive customer journey and workflow management analytics.
Canadian auto dealer spoke to Garry Kalk, Founder and CEO of Dealer-FX, at the 2015 NADA Convention & Expo in San Francisco, Calif. about the emergence of service lane technology. In a video interview, Kalk said, “The biggest challenge we have is to get the advisors from behind the desk to greet the customer at the vehicle and to write the customer up in a collaborative way.”
The company has doubled its annual revenue over the past four years and was ranked Deloitte’s Technology Fast 500 in 2014 and Industry Newcomer of the Year at the TU- Automotive (Telematics) conference in June 2015.
Steve Young, managing partner at HGGC, said in a written release: “Dealer-FX is a proven leader within an auto retail IT market that is expected to reach $16-billion by 2018, and we’re confident that they can capture greater market share in North America and continue to extend their footprint into international markets.”
This is the second investment in automotive technology for the Palo-Alto based company, which previously acquired AutoAlert, a cloud-based data and equity mining services for car dealerships.
Financial terms of HGGC’s investment are not disclosed.
