San Francisco, CA - November 16, 2017 - Serent Capital, a San Francisco-based private equity firm focused on investing in high-growth technology and services businesses, has made an investment in CallRevu, a leading provider of call management software that leverages robust technology enabled by machine learning to provide its auto dealership customers with critical call performance data.
CallRevu's solution is comprised of data-rich interfaces supported by sophisticated functionality that helps dealerships drive higher sales. Because today's car buyer does most of his or her research online, the inbound phone call has become increasingly important for dealerships. Callers are typically high-value sales prospects, far along in their purchasing journey, and so answering these calls properly is paramount to a dealer's success. Dealers who leverage CallRevu's unique platform gain substantial insights into phone calls, both those that convert into sales and, as important, those that are mishandled, but can be recovered. CallRevu serves over 3,300 dealer locations and partners with twenty global automotive manufacturers.
"Since inception, CallRevu has focused on one thing - improving car buyers' experience on the phone and in the dealership. CallRevu was first to market in this arena providing dealers unmatched services to improve the customer's journey. Our call management solution has been critical to enhancing this experience, which ultimately allows automotive dealerships to maximize their conversion of valuable leads" said Chip King, CEO of CallRevu.
He continued, "As we continue to scale, we wanted to bring on an investment partner who could offer the set of resources and expertise that will enable the next phase of our growth plan. We feel that the capability Serent Capital brings is perfectly suited to helping us capture the opportunities ahead, while maintaining a steadfast focus on delivering strong value and service to our customers."
"We have spent several years looking for the right platform investment in the automotive technology sector. CallRevu is a differentiated solution and leader in the call management space, and we are tremendously impressed by the business that Chip and his team have built. This success is demonstrated by stellar customer satisfaction, strong growth, and high retention rates," said Kevin Frick, Partner at Serent Capital. "We are thrilled to have the opportunity to collaborate with the CallRevu management team to drive continued product innovation and growth."
Serent's investment in CallRevu represents its second investment in the automotive market, including Tricolor Automotive Group. Presidio Technology Partners represented CallRevu in the investment process.
Founded in 2010, Baltimore, MD-based CallRevu offers dealerships a range of quality call tracking, monitoring, measuring and lead development services. CallRevu's key focus is to help automobile dealers measure and improve the most common contact point with their customers: the phone. CallRevu's solutions are developed by a team of individuals, who offer a broad range of experiences and whose leadership comes from the automotive world, and have an unrivaled commitment to customer service and satisfaction. For more information, visit the company's website at www.callrevu.com.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent helps growing businesses thrive.