Connected Car Company CarForce Gets Venture Capital Funding
In the white-hot connected car/vehicle tracking space, CarForce has received an investment from Digitech Venture Capital Fund.
CarForce was founded by a former eBay Motors executive.
“The vehicle service side of the automotive industry has been overlooked by technology companies, but paradoxically it’s where 60% of the operating income comes from,” says CarForce’s founder and CEO, Jessika Lora. “This was a logical choice as we saw a major customer pain point, a huge automotive vehicle service market, and vastly outdated technology.”
CarForce is attempting to retrofit what it designates “162 million smart-capable but disconnected vehicles already on the road with a way to seamlessly share maintenance and safety data with CarForce’s cloud-based platform.”
CarForce is currently targeting roughly 18k franchise dealers that represent over half of the $147B annual parts and service industry with an initial focus on Texas and California, then expand nationally.
The company has developed a cloud-based SaaS solution that leverages connected car telematics to provide dealerships with real time updates on the health of their customer’s vehicles; enabling dealers to provide their customers with a white glove customer service experience including remote diagnostics while increasing service- and customer retention revenue.
Category: Connected Fleet News, General Update
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