Numa Secures $32M Series B to Power the AI-Native Auto Dealership

With backing from lead investors Touring Capital and Mitsui, Numa has raised a total of $48M to revolutionize the auto dealership experience with AI, from operations to communications

SAN FRANCISCO, Oct. 1, 2024 /PRNewswire/ -- Numa, the AI platform transforming auto dealerships, today announced a $32 million Series B funding round. Touring Capital, a growth stage firm focused on AI-powered software, and Mitsui & Co., Ltd ("Mitsui"), a global conglomerate generating $1.2 billion in annual profit from automotive and mobility, led the round. Existing investors Costanoa Ventures, Threshold and Google's AI-focused venture fund, Gradient Ventures, also participated.

Led by a team of serial entrepreneurs, Numa is pioneering the AI-native dealership by putting intelligent AI agents into every facet of dealership operations. From rescuing missed calls and booking service appointments to coordinating inter-departmental tasks and managing customer expectations, Numa's platform transforms how dealerships work. Unlike outdated systems, Numa's AI agents actively help with every customer interaction, reducing response times by up to 100x, increasing customer satisfaction scores and driving bottom line results for dealerships. By streamlining communications, Numa delivers operational improvements that dealerships can see and feel, setting a new standard for efficiency, productivity, and profitability in automotive.

"We are building the AI-native dealership—re-architecting how dealerships run at their core," said Tasso Roumeliotis, CEO and co-founder at Numa. "Our AI agents not only handle repetitive tasks like booking appointments and giving status updates, but also more complex ones like rescuing dissatisfied customers and unlocking trade-ins. Numa activates a total transformation for every dealership, making their operations and communications smarter, faster, and more customer-centric."

The $1.2 trillion U.S. auto dealership market is expected to grow 4% through 2028, yet faces the challenge of outdated systems that burden staff with administrative tasks and customers with frustrating experiences. Numa's AI agents streamline operations and communications, reducing average customer response times from 23 hours to just 13 minutes and increasing repair order dollars per service advisor by over 35%.

"We see tremendous potential in Numa's platform because it is purpose-built for car dealerships, transforming an outdated tech stack with an AI-enabled copilot that drives real ROI," said Priya Saiprasad, co-founder and general partner at Touring Capital. "Numa redefines how dealerships engage with customers to deliver a delightful experience that enhances loyalty while also driving profitability."

"Numa is a game-changer for the auto industry, introducing AI agents that go beyond communications, redefining how dealerships operate and engage customers," said Hiroshi Takeuchi, operating officer of Mobility Business Unit at Mitsui. "As Numa's AI evolves, it empowers dealerships to streamline processes, improve customer interactions, and maximize every business opportunity. Their unique AI-powered platform is setting the new standard for what's possible in automotive service and sales."

Numa will use the new funding to expand its AI engineering team, accelerate product development, and continue its mission to power the AI-native dealership and revolutionize the retail dealership experience. This investment follows Numa's rise to 168 on the 2024 Inc. 5000 list of fastest growing companies and rise to number four in the AI industry category, highlighting a 2,248% three-year revenue growth rate. Additionally, Numa recently strengthened its leadership team with the appointment of Jason Finkelstein as Chief Marketing Officer, bringing his go-to-market experience in customer service software, AI, and high-growth B2B SaaS businesses to drive Numa's next phase of growth.

Numa will showcase its AI-native dealership technology at the Digital Dealer conference from October 8-10 at booth 707. For more information, visit www.numa.com.

About Numa
Numa is building the platform to power AI-native dealerships, rearchitecting automotive service and sales with advanced AI agents that automate customer interactions, streamline operations and reimagine how dealerships work. Founded by the team behind Location Labs, Numa integrates AI into every aspect of dealership functions—from rescuing customer calls and voicemails that generate more revenue to reducing customer resolution times that drive overall customer satisfaction (CSI) to improving dealership team productivity and accountability. Numa has raised $48 million and works with over 600 dealerships across the U.S. and Canada.

SOURCE Numa