Retail auto website platform and digital marketing company DealerOn has announced a strategic partnership with independent private equity firm, NexPhase Capital.
"NexPhase brings deep sector knowledge, operational expertise and significant resources that will help drive DealerOn's success for years to come,” DealerOn chief executive officer and co-founder Ali Amirrezvani said in a news release.
Amirrezvani continued, “With NexPhase's partnership, we will execute on our shared vision to remain the top choice for thousands of dealers across the country, by driving innovation, doubling our development teams and offering the exceptional service and support that customers have come to expect."
Amirrezvani and his brother Amir founded DealerOn in 2004. The company provides a website platform and digital marketing services to auto dealerships.
DealerOn says it is “bolstered” by 26 OEM certifications, which it says is the second most in the industry.
The company says it is among companies leading the transformation of the retail automotive industry from what it describes as “legacy website providers to a data-driven web automation platform designed to enhance consumer experiences.”
DealerOn says its services have helped deliver growth in traffic and qualified leads. The company says its average dealer customer sells more cars and gains opportunities with a 150% increase in leads.
The Amirrezvanis will continue to lead DealerOn, and the company will remain headquartered in Rockville, Md.
The companies say the NexPhase team offers strong experience investing in software and services companies. KnowFully Learning Group, Brandt Information Services, Insurance Technologies, Flexible Architecture & Simplified Technology, Inside Real Estate, SwipeClock and Mxi Technologies are among its current and previous investments.
“Over the past 15 years, and with the help of our dedicated team, my brother and I have built this business from the ground up,” Ali Amirrezvani said.
Amirrezvani continued, “The company has experienced rapid growth and today has more than 3,500 dealership partners and 350 employees. As we continue to scale the business and define our leadership position within the automotive retail industry, we are thrilled to partner with NexPhase and welcome them to the DealerOn family.”