BizzyCar Secures $15M in Oversubscribed Growth Round Led by Dealer Tire to Accelerate Growth and Revolutionize Auto Service Platforms

ST. PETERS, Mo., Oct. 8, 2024 /PRNewswire/ -- BizzyCar, a leading autotech solution that exponentially increases service revenue by automating recalls, announced today the successful close of their $15M growth funding round. The oversubscribed round was led by Dealer Tire, with participation from existing investors.

The investment will be used to accelerate BizzyCar's growth and scale its AI-driven platform to meet increasing demand from dealerships across the United States and Canada. BizzyCar has exceeded 300% year-over-year growth for multiple years and the company is continuing to reshape how dealerships manage service operations.

"We're excited about the future of BizzyCar and this latest funding round is a critical step in our growth journey," said Ryan Maher, CEO of BizzyCar. "This capital will enable us to accelerate our efforts in building the next generation of automated service platforms, reaching more dealers, and driving innovation across the auto industry. Dealer Tire stood out as the perfect strategic partner, not only because we share the same customer base and stakeholders, but also due to their vast network of nearly 9,000 dealership customers and over 20 OEM relationships. Their ability to help us scale aligns perfectly with our vision, and together, we're positioned to deliver even more value to dealerships nationwide."

Game-Changing Technology for Dealerships

BizzyCar's core product is a fully-automated service platform that uses proprietary recall data to drive customers into franchise dealers for recall service, frequently exceeding 10x ROI and increasing customer retention. In a challenging environment, dealers are increasingly focused on maximizing service profits, which currently make up over 50% of their gross profit. By automating critical service processes, BizzyCar helps dealers increase efficiency and profitability.

The platform integrates directly into OEM systems and leverages best-in-class first-party data, powered by AI, to provide a turnkey solution for dealerships. BizzyCar is also investing heavily in mobile service technology, offering dealers better ways to integrate mobile service into their processes.

"We have been watching the acceleration of BizzyCar in the recall space with interest. We understand the significance of a solution that improves safety for drivers and efficiency for dealer owners. Dealer Tire is excited to be a part of the Company's growth," said Scott Mueller, CEO at Dealer Tire.

Newly included in their suite of offerings is Recall Scout, a powerful tool designed to eliminate missed service opportunities for dealerships. With 70 million vehicles on the road currently subject to recalls, and 34 million recalls last year alone, Recall Scout helps dealers tap into a critical service revenue stream by identifying and addressing recalls for customers that already have unrelated service appointments booked.

Continued Growth and Expansion

In addition to rapid product adoption, BizzyCar has expanded its team to 80 members and plans to grow to 120 employees by the end of the year. With this new capital, the company is positioned to continue its annual growth trajectory, adding new customers and increasing the capabilities of its platform.

"Our mission is to build the next generation automated service platform in autotech, while making roads safer for drivers across all manufacturer brands," said Maher. "We are excited to continue partnering with innovative investors like Dealer Tire, Avenue Growth Partners, and Cequel III, as we scale our platform and bring transformative solutions to the automotive industry."

About BizzyCar
BizzyCar is the leading provider of fully-automated service solutions for the automotive industry. Its integrated, AI-powered platform provides an end-to-end solution that empowers dealerships to streamline operations, increase profitability, and enhance customer satisfaction. With $30 million in funding raised to date, BizzyCar continues to expand its presence across the U.S., driving innovation and efficiency in the automotive service sector.

About Dealer Tire
Dealer Tire was formed out of a family business that was founded in 1999 by the then owners of the former Mueller Tire & Brake, a Cleveland-based retail chain founded in 1918. Today, Dealer Tire's core business manages replacement tire and parts programs for more than 20 automotive OEMs in the U.S. and China. It serves nearly 9,000 automotive dealerships from 40 distribution centers across the U.S. Dealer Tire's enterprise also includes leaders across the automotive reconditioning, ecommerce and vehicle protection & warranty industry segments through its family of companies. For more information about Dealer Tire, visit www.dealertire.com.

Media Contact:
Laurie Halter
Charisma!
503-816-2474

SOURCE BizzyCar