Deals

Xtime drives off with $23 million to make automotive services sleek, fast, and modern

Every industry needs some sort of enterprise Customer Relationship Management System (CRM), and Xtime provides it for the automotive repair industry. The cloud-based platform integrates with car dealers’ own systems to streamline business operations and drive sales. It acts as a digital interface between automakers, dealers, and consumers that can not only enhance customer experience, but also provide data-driven insights and increase profits.

“Xtime was founded to transform the auto service industry that has technologically not changed since 1980s,” said Xtime CEO Neal East. “Xtime’s cloud-based solution gives the auto services industry an overhaul where everyone wins. Car owners get a retail experience on par with leading online players, dealerships streamline core operational functions while capturing lost revenues, and auto makers generate incremental parts revenue while preserving brand loyalty.”

All customer information, repair orders, and appointment data from the dealers’ database can be accessed in real time. Dealers can then use the system to set appointments, check in with customers, display repair histories, and detect patterns. Xtime’s client base includes more than 4,700 dealers and works with major manufacturers in North America, such as Lexus, Toyota, BMW, Mercedes-Benz Nissan, Infiniti, VW, Audi, Chrysler and Hyundai.

This is the company’s second round of funding, led by Bessemer Venture Partners with participation from Lumia Capital and existing investors RPM Ventures and Saints Capital. This brings the total investment to $34 million. Xtime was founded in 2004 and has 225 employees. It is based in Redwood Shores, Calif. and has eight offices around the world.