Singapore-based automotive SaaS start-up aureso announced it has closed a Pre-Series A funding round. The funding comes from a combination of well-known venture capitalists and existing private investors including U.S. & Singapore based 500 Startups and Wavemaker Partners. The valuation of the round was undisclosed, but the total commitment involves a “7 figure equity funding” and will lead the company to accelerate its growth plan.
Operationally aureso overcomes the all-to-well-known inefficiencies in lead management, the sales funnel process and CRM practices in automotive retail. Surprisingly, the vast majority of dealerships in Asia today still sell cars on paper. Others operate haphazardly, with interrelated business functions such as sales, CRM & marketing unable to work together. As a result, there is only very little operational business intelligence available.
CEO & Founder of aureso, Tobias Meister, acknowledges “There is no shortage of Sales & CRM tools out there, including cross industry solutions such as Salesforce and Microsoft Dynamics. However, the car sales process, from lead capture to vehicle handover, including other supporting services, involves human interactions and intricate cross-discipline workflows that require an industry specific solution.“
aureso’s calling card is that it’s everybody’s workflow management tool for the hourly and daily needs in automotive retail. The sales productivity platform provides a combination of a modern workflow management, live performance visibility and automated task management. “We change the way automotive users interact, access and process data“, Tobias explains.
aureso’s workflows aren’t setup for every industry – they’re uniquely defined for automotive. It is a bespoke automotive solution based on decades of experience from aureso’s Co-founder Timothy Rushforth, an automotive retail expert, who has re-engineered inefficient operational processes and practices in over 400 dealers through his automotive dealer development consultancy, RUSH4th Consulting.
Having witnessed the level of poorly designed software solutions across most major brands, aureso`s goal was to provide seamless and transparent connectivity throughout the entire dealer network operation. As an out-of-the-box solution aureso can be configured to connect multiple dealers to their group, groups to importers or entire markets to manufacturers, providing real-time sales performance analytics and business intelligence 24/7.
Tobias Meister adds, “Nowadays, topics like artificial intelligence and machine learning are constantly discussed throughout the industry, but the underlying IT structure in automotive retail is far from ready. aureso’s aim, and approach, is to fulfil both the digitalization and automation needs within their product offerings.”
With the new funding, aureso plans to expand functionality within its technology platform, add team members and increase go-to-market activities. New market entries are set to be announced in future months.
For more information regarding investment opportunities or sales interest in aureso, you can get in touch with the founders via email below:
CEO & Founder Tobias Meister Co-Founder Timothy Rushforth