Singapore-based automitive SaaS startup aureso has announced closing a pre-series A round led by 500 Startups and Wavemaker Partners. The total amount of the round was undisclosed, although the “7 figure equity funding” is seen to accelerate the company’s growth plan.
In particular, aureso plans to expand functionality within its technology platform, expand its team, and increase go-to-market activities. The startup also plans to launch into new markets, which shall be announced in future months.
In essence, aurseo is a customer relationship management (CRM) platform specifically tailored for the automotive industry. While there is no shortage of CRM solutions for various verticals, the company believes that other platforms are too generic for the automotive industry.
Through its platform, aureso addresses the nuances of automotive marketing, sales, and customer relations/retention. Tobias Meister, Founder and CEO of aureso lauded the fact that both companies small and big alike (like Microsoft with its Dynamics) have their own CRM offerings. “However, the car sales process, from lead capture to vehicle handover, including other supporting services, involves human interactions and intricate cross-discipline workflows that require an industry specific solution.”
aureso’s workflows are uniquely defined for the automotive industry. It is a bespoke automotive solution based on decades of experience from Co-founder Timothy Rushforth, an automotive retail expert, who has reengineered inefficient operational processes and practices in over 400 dealers through his automotive dealer development consultancy, RUSH4th Consulting.
This makes aureso an ideal out-of-the-box solution for automotive companies and dealerships, which can be used to connect multiple dealers to the group, groups to importers, or entire markets to manufacturers, providing real-time sales performance analytics and business intelligence 24/7.
The company’s biggest goal is to provide value across the sales cycle through added automation. “Nowadays, topics like artificial intelligence and machine learning are constantly discussed throughout the industry, but the underlying IT structure in automotive retail is far from ready,” Meister said in a statement. “aureso’s aim, and approach, is to fulfil both the digitalization and automation needs within their product offerings.”
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