MTC Portfolio Company CellARide Helps Car Dealerships Keep Selling
Springfield-Based CellARide Helps Car Dealerships Continue Sales, Despite Social Distancing Requirements
Purchasing a car is typically an “up close and personal” experience. From the test drive with a sales representative to sitting down for negotiations, the traditional car buying experience was turned on its head by the COVID-19 pandemic.
Luckily, Springfield-based startup CellARide has been hard at work transforming the car buying experience for nearly a decade. The company is a pioneer in what is now known as the automotive marketing technology space. Since its founding the company has evolved exponentially into a leading midwest technology company, doing business and forming partnerships with some of the largest automakers in the world.
The platform provides automotive brands and dealerships with a proven lead capture system that includes shopper profiles (i.e. cell phone number, address, income level, age group, etc.) and a compliant communications tool to text or call the shopper in real-time.
CellARide has also disrupted the recall industry with the creation of their MyCarRecall platform. MyCarRecall is an award-winning text message based platform that provides vehicle owners with a simple way to verify if they have an active recall, where the closest dealership is, and how to get their vehicle repaired.
Investing in Entrepreneurship
CellARide is a portfolio company of the Missouri Technology Corporation. MTC invested in the company through the MTC IDEA Fund. These investments and MTC’s suite of portfolio companies continue to demonstrate the value of dedicating resources to invest in startups. MTC’s IDEA Fund equips the state to support entrepreneurs, help companies grow, and produce a strong return on investment.
MTC’s IDEA Fund
The Missouri Technology Corporation’s IDEA Fund is the state’s primary vehicle for supporting startups and entrepreneurship. Through the fund, MTC invests in scalable, high-tech startups. All companies must be located within or willing to re-locate to Missouri to be eligible for funding. These high-growth companies must also fall into one of five areas of focus: animal health, applied engineering (which includes software, IT, clean energy tech and others), biomedical science, defense and homeland security, and plant science.