Doubling Down on Roadster
It isn’t often we see the the progress and trajectory that Roadster has delivered over the last year. Investors sometimes talk about the “Oh, s**t!” board meeting when they finally see what they actually invested in. In this case, we had the “Oh, wow!” experience. Roadster provides the modern auto dealer a digital storefront to make car buying easier and more efficient for customers, dealerships, and OEMs. The team’s combination of deep commerce experience and automotive knowledge informed its vision to to satisfy the demands for a modern, omni-channel experience.
In the last year, we have seen a rapid adoption of Roadster’s omni-channel commerce platform by forward-thinking dealers looking to enable digital commerce for this complex, high consideration product, integrate with existing operations and streamline their sales processes. Already, Roadster has attracted over 300 of the most progressive and well-known dealers, including the publicly traded Lithia group, and OEMs like Lexus, who just named Roadster one of four of its certified digital retail partners to its Express Storefront platform. Rather than disrupt and destroy the existing industry, Roadster has demonstrated that it can improve the performance and financial results of critical industry incumbents.
With their recent team additions — Dave Latham (VP of Product) and Matt Wolf (VP of Finance) — the Roadster team continues to merge their in-depth knowledge of commerce and the automotive industry to meet consumer demand. Roadster is continuing to scale up its team in the field to help dealerships and OEMs deliver an omni-channel experience and achieve better operating results.
We are thrilled to double down on our investment in Roadster and support the team leading a $15 million round that will help the company on its mission to transform the car buying experience.