|By Marketwired .||
|November 13, 2012 07:14 AM EST||
REDWOOD SHORES, CA -- (Marketwire) -- 11/13/12 -- Xtime, the leading cloud-based Customer Relationship Management (CRM) and scheduling platform for the automotive service industry, announced today that it has raised $23 million in Series 2 funding. The funding is led by Bessemer Venture Partners, with participation from Lumia Capital and existing investors RPM Ventures and Saints Capital. Additionally, with the new funding come additions to its board. Jeremy Levine, partner at Bessemer Venture Partners, and Heidi Roizen, accomplished Silicon Valley executive and venture partner at DFJ now join Xtime's board of directors.
"We believe these new investments support Xtime's place as the dominant leader in the hosted CRM automotive services marketplace," said Neal East, CEO of Xtime. "Auto manufacturers and dealers around the world have already embraced Xtime's award-winning solution in order to capture lost revenues, improve the customer service experience and retain brand loyalty."
Auto manufacturers and dealerships currently capture less than 33% of the market for maintenance and repair services, leaving billions of dollars on the table each year. As well, service department utilization rates are often below 75% and retention rates, post warranty, are often less than 50%, according to recent market studies. This combination of poor customer retention and under utilization is the huge opportunity that Xtime addresses.
"Xtime has pioneered an innovative approach to solving the major problems that plague today's automotive industry around the globe," said Jeremy Levine, partner at Bessemer. "With brands like Hyundai, Nissan and Lexus embracing Xtime as their solution and experiencing a significant return on their investment, Bessemer simply did not want to miss the opportunity to back Xtime's bright future."
Xtime leads the market for Automotive Service CRM and has demonstrated significant success including:
- Compound annual growth rate of 70% over the last 5 years
- 11 global auto manufacturer partnerships
- 4,800 dealership deployments in North America
- Almost 2 million consumers registered around the globe
- 8 offices around the world including North America, Europe, Australia and Asia
- More than 225 employees across its global offices
"Xtime is a fast mover in this segment of the automotive industry, bolstered by a clear solution to an ages-old problem," said Heidi Roizen, venture partner at Draper Fisher Jurvetson. "This infusion of funding will support multiple deployments simultaneously, allowing rapid global expansion. I'm delighted to work with Xtime leaders to drive the company toward substantial growth and market penetration."
"We've been using Xtime's ServiceCRM for more than two years and I can't imagine running my department without it," said Roy McAlister, Service Director at Thomas Nissan, Joliet Illinois. "It's a great tool for planning and viewing our department's operations, much better than we get with a DMS. It saves us plenty of time and money and gives our customers a superior overall experience. We love it."
Xtime transforms the automotive service industry with its cloud-based platform that deeply integrates with each dealer's DMS to enable seamless interoperations with dealership business processes. The end result is a sophisticated user experience that amplifies customer retention, shop utilization and profits for dealerships, while driving increased auto parts sales and repurchase loyalty for automakers.
Xtime is the leading cloud-based Customer Relationship Management (CRM) and scheduling platform for automotive manufacturers and dealer service departments. Xtime counts more than 4,800 dealerships as customers and has registered almost 2 million consumers. It processes more than 1.3 million appointments each month and has scheduled almost 50 million in total. Xtime is the exclusive or preferred provider for leading global automotive manufacturers in North America, including Lexus, Toyota Canada, Toyota US, BMW, Mercedes-Benz, Nissan, Infiniti, VW, Audi, Chrysler and Hyundai. Xtime is also the trusted choice for many of the industry's leading dealership groups including AutoNation, Group 1 Automotive, Sonic Automotive, Asbury, Luther, Ferman and Checkered Flag. Xtime is based in Redwood Shores, California and can be reached at (650) 508-4300 or www.xtime.com.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) is a global venture capital firm with offices in Silicon Valley, Cambridge, Mass., New York, Mumbai and Herzliya, Israel. BVP delivers the broadest platform in venture capital spanning across industries, geographies, generations and stages of company growth. From Staples to Skype, VeriSign to Yelp, LinkedIn to Pinterest, BVP has helped incubate and support companies that have anchored tidal shifts in the economy. More than 100 BVP-funded companies have gone public on exchanges in North America, Europe and Asia.
Bessemer Venture Partners has been a leading investor in Cloud Computing for more than 12 years, supporting early pioneers in this high-growth market including Postini, Cyota, Trigo, and VeriSign. During this time, BVP has invested in more than 50 Cloud Computing companies that are driving this market transformation. BVP's current cloud portfolio is one of the largest in the venture capital industry and includes leading public and private companies such as Box, Broadsoft (BSFT), Cornerstone OnDemand (CSOD), DocuSign, Eloqua (ELOQ), LifeLock, LinkedIn (LNKD), Shopify, Twilio, and Wix. For more information, visit http://www.bvp.com/cloud.
About Draper Fisher Jurvetson
Draper Fisher Jurvetson (DFJ) is a venture capital firm that partners with extraordinary entrepreneurs who set out to change the world. Since 1985, DFJ and the DFJ Global Network have had $7B committed to their funds and have managed more than 400 portfolio investments, including AdMob, Baidu, Box, Skype, Hotmail, SpaceX, Tesla Motors, SolarCity, Twitter, Tumblr and Yammer. DFJ works with companies at seed, early and growth stages, with the goal of creating of iconic and lasting businesses. DFJ pioneers investing in emerging markets including consumer and enterprise information technology, digital media, and disruptive technologies. The DFJ Global Network is a federation of 16 independent venture funds operating on four continents that cooperate on investment diligence and co-investing. Learn more at dfj.com.
Diboll & Associates
Marketing and Public Relations
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager – Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, will review next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discuss how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Speaker Bios Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has b...
May. 25, 2015 09:30 AM EDT Reads: 1,632
SYS-CON Media named Andi Mann editor of DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Andi Mann, Vice President, Strategic Solutions, at CA Technologies, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, communicator, and thought lea...
May. 25, 2015 09:00 AM EDT Reads: 1,932
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
May. 25, 2015 09:00 AM EDT Reads: 3,737
Information Technology (IT) service providers have historically struggled between the huge capital expenditure and long development cycles of building their own cloud versus the thin margins and limited flexibility of using public retailers such as Amazon Web Services (AWS). The emergence of wholesale cloud, and the technologies that make it possible, is revolutionizing how and by whom enterprise IT is delivered. Wholesale cloud is the game-changing third option between building your own (BYO) c...
May. 25, 2015 09:00 AM EDT Reads: 3,026
Shipping daily, injecting faults, and keeping an extremely high availability "without Ops"? Understand why NoOps does not mean no operations. Agile development methodologies require evolved operations to be successful. In his keynote at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how Microsoft teams who have made huge progress with a DevOps transformation effectively utilize operations staff and how challenges were overcome. Regardless ...
May. 25, 2015 09:00 AM EDT Reads: 1,618
You often hear the two titles of "DevOps" and "Immutable Infrastructure" used independently. In his session at DevOps Summit, John Willis, Technical Evangelist for Docker, will cover the union between the two topics and why this is important. He will cover an overview of Immutable Infrastructure then show how an Immutable Continuous Delivery pipeline can be applied as a best practice for "DevOps." He will end the session with some interesting case study examples.
May. 25, 2015 09:00 AM EDT Reads: 2,180
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
May. 25, 2015 08:45 AM EDT Reads: 1,939
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
May. 25, 2015 08:30 AM EDT Reads: 4,345
Cloud services are the newest tool in the arsenal of IT products in the market today. These cloud services integrate process and tools. In order to use these products effectively, organizations must have a good understanding of themselves and their business requirements. In his session at 15th Cloud Expo, Brian Lewis, Principal Architect at Verizon Cloud, outlined key areas of organizational focus, and how to formalize an actionable plan when migrating applications and internal services to the ...
May. 25, 2015 08:00 AM EDT Reads: 3,738
Most companies hope for rapid growth so it's important to invest in scalable core technologies that won't demand a complete overhaul when a business goes through a growth spurt. Cloud technology enables previously difficult-to-scale solutions like phone, network infrastructure or billing systems to automatically scale based on demand. For example, with a virtual PBX service, a single-user cloud phone service can easily transition into an advanced VoIP system that supports hundreds of phones and ...
May. 25, 2015 07:00 AM EDT Reads: 2,942
"We have developers who are really passionate about getting their code out to customers, no matter what, in the shortest possible time. Operations are very focused on procedures and policies," explained Stan Klimoff, CTO of Qubell, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
May. 25, 2015 06:00 AM EDT Reads: 4,940
Agility is top of mind for Cloud/Service providers and Enterprises alike. Policy Driven Data Center provides a policy model for application deployment by decoupling application needs from the underlying infrastructure primitives. In his session at 15th Cloud Expo, David Klebanov, a Technical Solutions Architect with Cisco Systems, discussed how it differentiates from the software-defined top-down control by offering a declarative approach to allow faster and simpler application deployment. Davi...
May. 25, 2015 05:45 AM EDT Reads: 6,174
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
May. 25, 2015 05:30 AM EDT Reads: 3,409
Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting and anomaly detection (SPM), log management and analytics (Logsene), and search analytics (SSA). We also provide Search and Big Data consulting services and offer 24/7 production support for Solr and Elasticsearch.
May. 25, 2015 05:30 AM EDT Reads: 3,016
Plutora provides enterprise release management and test environment SaaS solutions to clients in North America, Europe and Asia Pacific. Leading companies across a variety of industries, including financial services, telecommunications, retail, pharmaceutical and media, rely on Plutora's SaaS solutions to orchestrate releases and environments faster and with integrity. Products include Plutora Release Manager, Plutora Test Environment Manager and Plutora Deployment Manager.
May. 25, 2015 05:15 AM EDT Reads: 3,052
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize sup...
May. 25, 2015 05:00 AM EDT Reads: 6,032
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects - scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e....
May. 25, 2015 05:00 AM EDT Reads: 4,178
WSM International is launching a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. This is the first independent services company to create a dedicated practice to help organizations looking to transition to the DevOps model. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of ...
May. 25, 2015 05:00 AM EDT Reads: 2,826
WSM International has launched a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of the organization. According to a recent press release from Gartner, "By 2016, DevOps will evolve from a niche strategy employed by large cloud ...
May. 25, 2015 05:00 AM EDT Reads: 3,153
Cloud is not a commodity. And no matter what you call it, computing doesn’t come out of the sky. It comes from physical hardware inside brick and mortar facilities connected by hundreds of miles of networking cable. And no two clouds are built the same way. SoftLayer gives you the highest performing cloud infrastructure available. One platform that takes data centers around the world that are full of the widest range of cloud computing options, and then integrates and automates everything. J...
May. 25, 2015 04:45 AM EDT Reads: 3,247