AutoAlert, an Irvine, California-based provider of cloud-based data mining analytics and dealer portfolio management solutions to automotive retail dealerships throughout North America, completed a growth equity investment from HGGC.
The amount of the transaction was not disclosed. In conjnction with the funding, AutoAlert founders Boyd Warner, CEO, and Jeff Cotton, COO, will reinvest a substantial portion of their proceeds and retain a significant minority stake in the business. Steve Young, Managing Partner and Co-founder of HGGC, will become Chairman while Rich Lawson, HGGC Managing Partner and CEO, and Jake Hodgman, Principal at HGGC, are also joining the Board.
Founded in 2002, AutoAlert provides the automotive dealership industry with lead generation software programs, hardware, in house training and support to enhance sales efforts and opportunities. Since inception, more than 2,700 automobile dealerships have used the company’s services.
FinSMEs
01/04/2014