AutoVitals Attracts Significant Growth Investment from Tritium Partners and Appoints Software Veteran as CEO
GOLETA, Calif., Oct. 31, 2019 /PRNewswire/ -- AutoVitals, a leading provider of SaaS solutions to automotive repair and maintenance shops, announced today a strategic growth investment from Tritium Partners. The investment will provide AutoVitals with significant resources to expand and enhance its unique The Digital Shop® offerings to a growing base of shop owners looking to benefit from improved auto-repair-center workflow, motorist engagement and retention, and increased customer acquisition and revenue per visit.
To help lead this exciting next phase of growth, Jon Belmonte has joined as CEO to work closely with AutoVitals' founder Uwe Kleinschmidt and a passionate organization focused on serving automotive shops.
AutoVitals is a recognized innovator within the automotive technology industry and provides a comprehensive suite of products aimed at optimizing a shop's performance, including workflow management, digital vehicle inspection, motorist engagement, POS integration, websites and other digital marketing tools. The company's SmartFlow and The Digital Shop® product family have enabled shop technicians and service advisors to dramatically increase productivity and sales, often driving 25-100% increases in annual shop revenues.
Mr. Belmonte is a seasoned software executive having previously served as CEO and as COO at Active Network (ACTV). With the company nearly since its inception, he helped grow revenue to over $400 million and guided the company to its eventual sale for $1 billion.
"It's clear that AutoVitals' offering creates tremendous value for its customers by increasing average repair order, improving customer retention and reducing wasted time," said Mr. Belmonte. "I'm thrilled to join Uwe and the AutoVitals team to bring their market-leading solutions to automotive repair and maintenance shops across the world. We will continue to focus on providing our customers and partners with the most innovative products along with outstanding levels of support and service, while significantly scaling the company organically and opportunistically through M&A. The future is very bright for AutoVitals!"
Following the investment, AutoVitals founder Uwe Kleinschmidt will focus his attention toward his role as Chief Innovation Officer. The move will allow Mr. Kleinschmidt to devote even more energy to extending AutoVitals' lead as the industry's innovation pioneer. "I am excited to be partnering with Tritium and with Jon as we launch our next phase of transformational growth and innovation," said Mr. Kleinschmidt. "Their collective experience scaling businesses will no doubt help us bring more opportunities to the market, which will empower our current and future clients to break through the current limitations created by traditional processes and tools."
David Lack, Managing Partner at Tritium Partners, commented, "AutoVitals has achieved demonstrable success, and helped meaningfully lift the performance of its customers with its technology platform in the automotive aftermarket. We see significant opportunity to expand AutoVitals' market reach. We are investing heavily to expand its go-to-market team and further enhance its product differentiation to meet the demand from customers who seek technology to improve operational success in their shops and better serve consumers."
About AutoVitals
AutoVitals is the leading provider of integrated software solutions for managing automotive shop workflow, internet marketing, and motorist engagement. The company's solutions automate every touch point of the vehicle repair transaction with motorists and enable efficient shop management. AutoVitals' platform includes digital inspections, automated service reminders, consumer engagement, repair status updates, POS integration, educational videos, sales-to-technician communication, and real-time integration to repair data/POS. Learn more at www.autovitals.com.
About Tritium Partners
Founded in 2013, Tritium is a private equity firm focused on companies with exceptional growth potential. For over 17 years, both at Tritium and prior vehicles, Tritium's founders have deployed over $850 million of equity capital while partnering with talented founders and executives to build market-leading companies. Tritium's approach emphasizes creating long-term value through strategic growth initiatives and acquisitions, with a focus on internet and information services, financial and business services, and supply chain and logistics.
Contact:
Caroline Luz
Blicksilver Public Relations
203-656-2829
[email protected]
SOURCE AutoVitals
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