Irvine, Calif., Feb. 19, 2020 – Digital Motors®, an innovation leader in automotive retail and financial technology (FinTech), has partnered with Autotech Ventures to accelerate its growth strategy. The company’s configurable online store technology can be integrated with the websites, systems, and processes of any dealership, manufacturer, auto lender, or marketing site to power a state-of-the-art car buying and financing experience – tailored to individual clients’ business needs and corporate identity.
Based in Silicon Valley, Autotech Ventures is a venture capital firm managing more than $270 million that focuses on the $3 trillion ground transportation industry.
Autotech Ventures validates our strategy and broadens our circle of influence. By partnering with the best investors and operators in the automotive business, we are able to shift into high gear.
Andy Hinrichs
Founder and CEO Digital Motors
The automotive industry is facing an increasing demand for digital sales processes to create efficiency and improve the consumer experience. Digital Motors’ highly configurable platform can power an integrated digital retailing experience ranging from Tier 1 to 3 websites.
Alexei Andreev
Managing Director Autotech Ventures
Digital Motors operates a digital retailing platform and intelligent FinTech configuration engine, enabling car dealerships to fully transact with their customers online. Car shoppers can complete the entire transaction online or seamlessly transition to the dealership at any step in the process.
Autotech Ventures led the financing round and its managing director Alexei Andreev has joined the company’s Board of Directors. Other investors in Digital Motors include Jaguar Land Rover’s London-based InMotion Ventures, OpenRoad Auto Group, renowned automotive industry expert and author Maryann Keller, and Ryan Kerrigan, Managing Director of Kerrigan Advisors – the leading auto dealer sell-side advisor in the U.S.
Digital retailing is not about online transactions vs. in-store sales. Digital Motors combines these channels to create a seamless car buying experience for all parties involved.