Impel lands $104M investment for M&A, product expansion

Impel, a provider of digital automotive engagement software and data for dealers, auto marketplaces and OEMs, announced a $104 million growth investment led by Silversmith Capital. Its technology uses artificial intelligence to help dealers and automakers “deliver more engaging omnichannel customer experiences while driving greater operational efficiency,” Impel said. With the heightened focus on electric vehicles and the growing demand for ecommerce functionality, the digital disruption that is currently underway shows no signs of slowing,” Impel co-founder and CEO Devin Daly said in a news release. “This investment will significantly strengthen our ability to introduce new products and innovations that generate meaningful business impact for manufacturers and dealers alike, while enhancing the customer experience at every touchpoint.” Todd MacLean, who is managing partner at Silversmith Capital Partners, added: “On the long list of things that we look for in new investments, there are two that stand out above the rest — a compelling team and a product that customers love. “While it may seem to many that the hype around AI and machine learning is overblown, Impel has shown how software companies can leverage this cutting-edge technology to solve everyday problems — in this case changing how dealers engage with and serve their customers.