Big milestone for the Toma team: we’ve raised $17M Series A to continue our mission of building AI Agents for automotive dealerships. Proud of our team, grateful to our partners, and more energized than ever! Check out the full story 👇
I’m very proud to share that Toma has raised $17M in Series A led by Andreessen Horowitz to build AI agents for auto dealerships. What began as a fun expedition for 2 software engineers into the heart of America unraveled into an opportunity of a lifetime. Last year in the scorching heat, Anthony Krivonos and I found ourselves in the service drive of auto dealers in Oklahoma and Mississippi, doing tire rotations and answering calls filling in for the staff at the stores marking our introduction to automotive retail. And then it hit us. Look around! Cars are as perennial as water and they are everywhere. And who shoulders the burden for keeping people moving? Auto dealerships. They say that you don’t choose the car business, the car business chooses you and it sure did choose us. We’re bringing the latest advancements in AI to an industry that touches people’s lives everyday furthering the mission of dealers to provide an exceptional customer experience while providing unparalleled efficiency gains. 45% of all dealership calls today go unanswered due to staffing pressures resulting in a variety of losses - lost revenue, lost customers and lost trust. For a business that thrives on customer retention, these numbers highlight a big problem. And we are addressing this problem at Toma. Our AI agents handle every interaction - calls and texts and turn chaos into delight while giving staff time back to do what they do best - build connections. We’re incredibly grateful for the support of our investors Andreessen Horowitz, (Seema Amble, Olivia Moore, Eric Zhou), and Y Combinator (Tom Blomfield , Michael Seibel) Holman (Bill Cariss Brandon Proetto), Flex Capital (Auren Hoffman 📚, Paul Johnson 🇬🇧🇺🇸), Breakpoint Capital (Jim Payne), Unpopular Ventures (Peter Livingston) and angels like Jonathan Siddharth and Vijay Krishnan from Turing, Scale Angels (Arno Gau), Yossi J Levi from Car Dealership Guy, #11 Larry Fitzgerald Jr., Gokul Rajaram, and others. Thanks to TechCrunch’s Sean O'Kane for sharing our story which is linked in the comments!