STELLA Automotive raises $22 million to grow dealership AI
What's the deal? STELLA Automotive AI, a Tampa-based startup, raised $22.1 million in a Series B round led by Maroone USADealroom has a profile for this one. Try Dealroom →. The company sells artificial intelligence that answers dealership phones, books service appointments, and follows up with sales leads.
Why now? STELLA began raising the money on June 1. The round mixes new investment with earlier convertible notes that converted to equity.
The company told federal regulators it could raise nearly $26 million and had sold about $22 million to 29 investors by mid-June, leaving roughly $4 million available at the time.
What's the endgame? STELLA's software works with systems dealerships already use, so dealers can hand off repetitive calls and follow-ups without replacing their existing technology. Its AI now handles tens of thousands of customer calls around the clock.
The startup first focused on inbound calls but has moved to outreach. Its Catalyst product can start conversations itself, reaching customers due for service or who have stopped coming in.
"The products address real dealership needs, and the company's continued growth reflects the value dealers are getting out of the technology," chief executive officer Michael Maroone said.
The signal: STELLA says dealership groups are adding its technology each week, giving it a growing base of traffic as it puts the new capital toward commercial expansion and product development.
Read more: tbbwmag.com
Image credit: William Hook
