Former Cars.com, Chrysler, And JD Power Executives Invest In CarLabs

LOS ANGELES, Sept. 21, 2016 /PRNewswire/ -- CarLabs (www.carlabs.com), creator of the world's first conversational, artificially intelligent agent for car shopping and buying, has secured angel investments from industry insiders including founder and former CEO of Cars.com, Mitch Golub; former COO of DaimlerChrysler Services, Tom McAlear; and former President of InsWeb and Global Research SVP at JD Power, Kevin Keegan.

CarLabs was founded and initially funded by a team of automotive-insiders and executives including founder of NewCars.com and former VP of R&D for Cars.com and Shopzilla, Martin Schmitt; e-commerce pioneer, former head of internet strategy at Packard Bell/NEC, and former co-founder and CEO of MatchCraft, Uzi Eliahou; and former COO of NewCars.com and former VP of search marketing at Cars.com, Isabel Sopoglian.

"We are extremely pleased to have these seasoned and well-connected strategic investors on our team as we tackle all areas of the automotive industry with our first-of-its-kind platform," said Martin Schmitt, CarLabs Co-Founder and CEO.

CarLabs has created a technology to streamline and simplify the car purchasing process for consumers, publishers and dealers. On average, consumers will search through eight car portals and websites and still report they find it difficult to navigate the purchasing process.

With a combination of novel technology, software and a conversational, artificially intelligent bot called Carla, CarLabs' mission is to enhance the car shopping, comparison, purchasing and ownership experience.

"Artificial intelligence is the future when it comes to navigating the tremendous amount of information available to consumers today," said Mitch Golub, board member, advisor and angel investor at CarLabs. "We think the automotive shopping and ownership experience is the perfect segment to improve first."

The Technology

The company offers a B2B solution that improves the car shopping experience for users of platforms like Facebook Messenger, Twitter or text messaging. CarLabs' conversational, artificially intelligent agent, Carla, is ready 24/7 to answer questions such as:

• "Can I get a safe, reliable, fun SUV with 7 seats under $45k?"
• "What full-size trucks get better than 20 mpg and cost less than $400/month?"

CarLabs' B2B solution applies to and addresses diverse segments of the auto industry and is currently being integrated into client networks with a planned Q1 launch. CarLabs offers a personal and engaging product suite for enhancing car dealers' software and Carla helps link the auto OEM with consumers via the dealership. Publishers benefit from CarLabs' novel plug-in car comparison tool, that dramatically improves the car research/lead generating experience for car portals, publishers and websites.  She also can power existing AI products like Amazon's Alexa.

"CarLabs is far beyond anyone in this space, and I am tremendously excited to be an investor, board member, and advisor," said Golub.

About CarLabs

Born at the intersection of big data, new technologies and consumer frustration, CarLabs has assembled a team of industry icons and emerging visionaries dedicated to rethinking the way people buy, sell, finance, insure and maintain their cars.

CarLabs created The Lab, which compiles the most reliable, accurate and precise facts and figures into  one comprehensive and all-inclusive database. This database is navigated by a proprietary API that translates user needs into concise data sets and complex data into user-friendly language.

Whether through Carla, the conversational agent, or the graphical interface (AutoEQ), The Lab helps users make informed decisions by translating specs and tech jargon into consumer language. CarLabs' technology streamlines the car shopping and buying experience from consumer to publisher to dealer and beyond.

To learn more visit www.carlabs.com and follow-us on LinkedIn, Twitter and Facebook.

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SOURCE CarLabs

Related Links

http://www.carlabs.com