Automotive startup AutoGravity launches lead subscription service for auto dealers

AutoGravity, an automotive startup and digital platform provider that helps car-buying consumers connect with dealers for a better retail experience, announced today a new subscription-based customer lead service designed to drive incremental sales for dealers.

Founded in 2015 by Aleks Bogoeski, Andy Hinrichs, Nick Stellman, and Serge Vartanov, the AutoGravity platform connects car buyers with lenders and dealers, providing a fast, convenient and transparent car-buying experience for everyone. Shoppers select their preferred new or used vehicles from local dealer inventory. Then, they receive tailored loan or lease offers from AutoGravity partner banks and financial services companies.  To date, AutoGravity has raised a total of $110M in funding over 4 rounds. Their latest funding was raised on Jun 26, 2018 from a Series C round.

The Irvine, California based startup has received more than 130,000 credit applications with over $2.5 billion in financing requested. To date, nearly 3 million people have downloaded the AutoGravity iOS and Android app.

Consumers are attracted to AutoGravity’s platform for information about inventory research coupled with vehicle financing. This creates a unique consumer perspective and a distinctive readiness to engage in conversation with a referral dealership. Partner stores can now receive CRM notifications for consumers who initiate engagement from one of four possible consumer experiences including full and partial credit applications, inbound sales calls routed to a store’s sales department or BDC, and vehicle availability & price quote requests

“We offer a one-stop subscription service that gives dealers access to customers who have already done their shopping homework and are ready to buy,” said Chuck Schofield, AutoGravity’s vice president of sales and dealer development. “In addition to providing high quality leads, we showcase dealer’s inventory on our trusted digital platform and introduce buyers to their showrooms with our marketing campaigns on Facebook and other channels. Our goal is to align consumer intents and capabilities with the dealers who are best capable of fulfilling those requirements. This alignment is what we call a true ‘showroom ready’ experience for all.”

Over the past year, AutoGravity studied the major friction points in the auto sales process and applied its learnings in the form of new lead verification technology, data scrubbing and delivery systems that identify consumers who are ready to communicate with dealers. Data gathered from a recent Boston Consulting Group consumer and dealer survey, commissioned by AutoGravity, affirmed consumer demand for a better automotive financial shopping experience. Respondents cited the financial aspects of the car buying process as a leading issue. In fact, 67% prioritized concerns about affordability above finding the perfect car.