DealerOn Partners with NexPhase to Enhance its Award-Winning Platform and Accelerate Leadership in Seeking to Transform the Retail Automotive Industry
ROCKVILLE, Md., Jan. 6, 2020 /PRNewswire/ -- DealerOn, Inc. ("DealerOn" or the "Company"), a leading website and digital marketing company serving the retail automotive industry, today announced a strategic partnership with NexPhase Capital, LP ("NexPhase"), an operationally-focused, independent private equity firm.
Founded in 2004 by brothers Ali and Amir Amirrezvani, DealerOn provides an award winning website platform and leading digital marketing services to car dealerships. Bolstered by 26 OEM (original equipment manufacturer) certifications, the second most in the industry, DealerOn is among those leading the transformation of the retail automotive industry from legacy website providers to a data-driven web automation platform designed to enhance consumer experiences. DealerOn's solutions have helped deliver immediate and meaningful growth in traffic and qualified leads, with the average dealer customer benefiting from a 150% increase in leads, resulting in more opportunities and more cars sold.
"Over the past 15 years, and with the help of our dedicated team, my brother and I have built this business from the ground up. The Company has experienced rapid growth and today has more than 3,500 dealership partners and 350 employees. As we continue to scale the business and define our leadership position within the automotive retail industry, we are thrilled to partner with NexPhase and welcome them to the DealerOn family," said Ali Amirrezvani, DealerOn CEO and Co-Founder. "NexPhase brings deep sector knowledge, operational expertise and significant resources that will help drive DealerOn's success for years to come. With NexPhase's partnership, we will execute on our shared vision to remain the top choice for thousands of dealers across the country, by driving innovation, doubling our development teams and offering the exceptional service and support that customers have come to expect."
"Now more than ever, dealers are looking for a fast, fully transparent and easy to manage digital marketing platform," said Bob Gartland, a Principal at NexPhase Capital. "This investment is a testament to the tremendous efforts and hard work of the DealerOn team to make car buying in the digital age better than ever, and it marks an important next step in the Company's ability to scale and deliver on the high growth potential of its platform. Together with Ali and Amir, we are confident DealerOn is poised to continue expanding its technology platform and dealership network, while continuously delivering an unmatched and innovative user experience."
DealerOn will continue to be led by its founders, Ali and Amir Amirrezvani, and the Company will remain headquartered in Rockville, Maryland. Terms of the transaction were not disclosed.
The NexPhase team has extensive experience investing in software and services companies. Current and previous investments include KnowFully Learning Group, Brandt Information Services, Insurance Technologies, Flexible Architecture & Simplified Technology, Inside Real Estate, SwipeClock and Mxi Technologies.
Horatio Partners served as financial advisor to DealerOn and Foley & Lardner LLP served as legal counsel. Lowenstein Sandler LLP provided legal counsel to NexPhase.
About DealerOn, Inc.
DealerOn, Inc. is a leading website and digital marketing company serving the retail automotive industry. In the last 12 months DealerOn's websites have won several key industry awards, including: Driving Sales Top-Rated Website, Digital Dealer's Overall Website Excellence Award, AWA's Pinnacle Award, and Dealer Marketing Magazine's Technology Award for Website Providers. DealerOn has become noted in the industry for their Lead Guarantee, based on their Digital Marketing Dashboard. Since creating this process in 2009, DealerOn has documented an average increase of 150% in website lead volume for their auto dealer clients. For more information, please visit www.dealeron.com.
About NexPhase Capital
NexPhase Capital ("NPC") is a thematic and operationally-focused private equity firm that invests in lower middle market growth-oriented companies within three distinct sectors: consumer, healthcare, and software & services. The firm partners with companies that have reached a growth inflection point and are seeking a value-added partner to help navigate the company's "next phase." The NPC team has extensive industry and operational experience and NPC's partners have invested together for nearly a decade. The firm has completed nearly 60 investments including add-ons and targets control equity investments between $25 million and $75 million. For more information, please visit www.NexPhase.com.
Contacts
DealerOn, Inc
Mike Martinez
Chief Strategy Officer
877-543-6321
NexPhase Capital
Jonathan Keehner / Kate Clark
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
SOURCE DealerOn
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