Auto retail group Holman led a new venture capital investment round for Vincue, a dealership technology company whose platform focuses on marketing and inventory management.
The tech company touted Holman, one of Vincue’s customers, as a significant investor to enabling its growth.
“Holman is an innovator in our industry and the organization’s forward-thinking mindset along with its strategic capital investment will help to fuel our company’s continued growth,” Chris Hoke, Vincue’s founder and CEO, said in a statement.
Investment firms Autotech Ventures and Automotive Ventures also participated in the Series B round. Vincue, of Kansas City, Mo., declined to disclose how much money it raised.
Holman of Mt. Laurel, N.J., ranks No. 26 on Automotive News‘ most recent list of the top 150 dealership groups based in the U.S., retailing 23,902 new vehicles in 2022. Holman said it has more than 30 franchised dealerships in eight states.
Holman also is focused on automotive services, such as fleet management, vehicle upfitting, vehicle equipment and insurance. It also has a division that invests in next-generation mobility technology.
As part of the investment, Holman plans to expand its use of Vincue technology at its dealerships.
Vincue’s platform is designed to help dealerships manage inventory in areas including buying plans, multichannel acquisition sourcing, marketing pricing and appraisal, merchandising and syndication, and digital marketing. It also provides real-time market and competitor data to help dealers make better buying and merchandising decisions, according to the company.
Launched in 2016, Vincue (also known as DealerCue Automotive Corp.) counts 65 full-time employees and has nearly 1,000 subscribers on its platform, including independent and franchised dealerships, according to a Vincue spokesperson.