Digital Motors, an Irvine, Calif.-based automotive retail and financial technology company, raised an undisclosed amount of funding.
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, Maryann Keller, and Ryan Kerrigan, Managing Director of Kerrigan Advisors.
The company intends to use the funds to accelerate its growth strategy.
Led by Andy Hinrichs, Founder and CEO, 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. The technology can be integrated with the websites, systems, and processes of any dealership, manufacturer, auto lender, or marketing site.