Numa will showcase its AI-native dealership technology at the 2024 Digital Dealer Conference and Expo from October 8-10 at booth 707
Numa, an artificial intelligence (AI) platform for auto dealerships, announced a $32 million Series B funding round on Oct. 1.
Founded by the team behind Location Labs, Numa integrates AI into every aspect of dealership functions—from rescuing customer calls and voicemails that generate more revenue to reducing customer resolution times that drive overall customer satisfaction (CSI) to improving dealership team productivity and accountability. The company works with over 600 dealerships across the U.S. and Canada.
Numa will use the new funding to expand its AI engineering team and accelerate product development. In total, Numa has raised $48 million.
New Investors
The investment in this round were led by Touring Capital, a growth stage firm focused on AI-powered software, and Mitsui & Co., Ltd, a global conglomerate generating $1.2 billion in annual profit from automotive and mobility. Existing investors Costanoa Ventures, Threshold and Google’s AI-focused venture fund, Gradient Ventures, participated as well.
Tasso Roumeliotis, CEO and co-founder at Numa, said the funds will be used to expand to make AI-native dealerships, re-architecting how dealerships run at their core.
“Our AI agents not only handle repetitive tasks like booking appointments and giving status updates, but also more complex ones like rescuing dissatisfied customers and unlocking trade-ins,” said Roumeliotis is a press statement. “Numa activates a total transformation for every dealership, making their operations and communications smarter, faster, and more customer-centric.”
Numa Stats
Unlike other systems, Numa’s AI agents actively help with every customer interaction, reducing response times by up to 100x, increasing customer satisfaction scores and driving bottom line results for dealerships, according to company officials. By streamlining communications, Numa delivers operational improvements that dealerships can see and feel, setting a new standard for efficiency, productivity, and profitability in automotive.
Roumeliotis highlighted that the company’s AI agents reduce average customer response times from 23 hours to just 13 minutes and increase repair order dollars per service advisor by over 35 percent.
Investor Comments
Priya Saiprasad, co-founder and general partner at Touring Capital, sees “tremendous potential in Numa’s platform because it is purpose-built for car dealerships, transforming an outdated tech stack with an AI-enabled copilot that drives real ROI. Numa redefines how dealerships engage with customers to deliver a delightful experience that enhances loyalty while also driving profitability.”
“Numa is a game-changer for the auto industry, introducing AI agents that go beyond communications, redefining how dealerships operate and engage customers,” added Hiroshi Takeuchi, operating officer of Mobility Business Unit at Mitsui. “Their unique AI-powered platform is setting the new standard for what’s possible in automotive service and sales.”
This investment follows Numa’s rise to 168 on the 2024 Inc. 5000 list of fastest growing companies and rise to number four in the AI industry category, highlighting a 2,248% three-year revenue growth rate. Additionally, Numa recently strengthened its leadership team with the appointment of Jason Finkelstein as Chief Marketing Officer, bringing his go-to-market experience in customer service software, AI, and high-growth B2B SaaS businesses.
