IRVINE, Calif.–(BUSINESS WIRE)–Orbee, Inc., a leading technology service provider for the automotive industry, announced the closing of its oversubscribed Series A financing round, which raised $4.0 million to drive growth of the company’s innovative platform for the auto retailing ecosystem including dealership groups and their technology and service providers.
The Presidio Group acted as the exclusive financial advisor to Orbee. The round was led by the automotive and transportation venture firm FM Capital, with participation from existing anchor investors Holman Enterprises, Flow Automotive Companies and Pohanka Automotive Group. New strategic investors included automotive retailers Mills Automotive Group, Qvale Auto Group, Basil Family Dealerships and auto industry expert Ron Frey. Presidio also invested in the round.
“We are excited about the confidence shown by both our existing and new investors in our robust technology offerings as we continue to expand our reach in the high-potential and fast-growing area of customer experience transformation,” said Orbee Co-Founder and CEO Atul Patel. “Delivering personalized customer experiences is increasingly important for dealerships especially as market conditions and inventories normalize, and with our technology, retailers can tap their rich customer data and use our middleware capabilities to better engage customers throughout their car purchasing and ownership journey.”
Orbee’s technology serves as a powerful middleware, bringing together all of a dealership’s data sources in a centralized platform that empowers automotive dealerships to manage and leverage their own data. Orbee’s platform has many use cases including streamlining and optimizing advertising, personalizing shopping experience and messaging, enriching insights and analytics with third-party data and increasing loyalty across multiple rooftops in a dealership group. With the additional funding, Orbee will be able to enhance and further scale its platform.
“The adoption of customer data platforms in the retail automotive industry is poised to expand exponentially,” said Chase Fraser, Managing Partner at FM Capital. “Our investment in Orbee demonstrates our confidence in the potential of this technology.”
Presidio leaders and dealer investors echoed that enthusiasm for Orbee’s capabilities.
“Orbee is helping dealers customize and improve the experience they offer to car buyers,” said Presidio Managing Director Keith Style. “Orbee’s game-changing technology gives dealerships the tools they need to leverage data for the benefit of the customer and the dealer alike.”
Damian Mills, CEO of Mills Automotive Group, said, “Automotive retailers are seeking every advantage to attract and retain customers, and harnessing the power of our data can help us elevate our clients’ experiences as they buy vehicles and have them serviced at our dealerships. I am excited about the promise that Orbee’s platform holds for our business.”
“We love opportunities like this that give us the chance to connect forward-thinking dealers and investors with auto tech companies delivering cutting-edge software that will change the face of retailing,” said Presidio CEO Brodie Cobb. “Orbee’s innovations will put dealers in the driver’s seat as they strive to personalize the car-buying experience.”
Orbee provides data management and middleware software to the automotive industry to modernize the car buying experience. Franchised and independent dealers and enterprise clients use the Orbee platform to measure marketing investments with campaign analytics, understand shopper behaviors using Orbee’s customer journeys tool, manage and control first and third-party data with tag management, reach buyers everywhere with omnichannel marketing, leverage 1:1 engagement with personalized messaging, comply with safeguard data laws with regulatory compliance and enable their tech teams with powerful application programming interfaces and software development kits. The company partners with dealer-centric media agencies, service providers and OEM programs to expand the reach of its powerful technologies. To learn more about Orbee’s powerful marketing technology, please visit orbee.com and follow Orbee on LinkedIn. Connect with Orbee in person by visiting us at upcoming events.
The Presidio Group (“Presidio”) was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively closed over 265 transactions for more than $18 billion. Presidio has offices in Denver and Atlanta. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.
About FM Capital
First Move Capital (“FM Capital”) is an investment firm dedicated to creating value for investors, entrepreneurs and communities. FM Capital is focused on advancing clean, safe and efficient transportation through its investments, ongoing engagement with portfolio companies and an experienced, connected advisory board. The firm’s unique and proprietary investment sourcing process drives high quality deal flow while its management rapport and active engagement drive portfolio performance. FM Capital is comprised of industry professionals with deep experience in both investing and operations across the automotive and mobility sectors. More information is available at www.fmcap.com.