MyDealerOnline, whose software lets dealers take wholesale vehicles and places them on the dealership websites, recently announced that Ben Franklin Technology Partners of Southeastern Pennsylvania has invested in the company to bring more exposure to its multi-faceted dealership solution platform.
Executives highlighted the late seed round will make it possible for auctions on MyDealerOnline.com to get more exposure, while individuals will be able to access a wider selection of vehicle at competitive prices through trusted local dealers. The investment makes MyDealerOnline part of Ben Franklin’s portfolio of greater Philadelphia-based high-growth technology companies.
Meanwhile, MyDealerOnline is still offering an opportunity to investors to add to the current round of investment.
“We are pleased to partner with Ben Franklin and their dedication to helping early stage companies,” MyDealerOnline founder and chief executive officer Yury Kaganov said. “Their due diligence and subsequent investment continue to validate MyDealerOnline's business model and value to our marketplace.”
MyDealerOnline’s multi-faceted solution can help dealerships drive sales, increase marketing effectiveness and gain intelligent customer insights by giving them the ability to offer wholesale inventory directly to customers through their current dealership websites. The Inventory-as-a-Service platform does not require additional funds or floor-plan costs typically involved with physical inventory for a dealership. The platform also improves the acquisition process, revenue potential, and customer satisfaction rates with one solution.
For more information about the investment deal, .