Signal Receives $20M Investment

By Staff Writer November 13, 2020
Signal specialize in pick-up trucks Signal specialize in pick-up trucks

Signal Automotive, a technology-enabled wholesale automotive platform, announced a $20 million investment led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, L.P. The Signal platform is a unique combination of proprietary software and managed services that optimizes the buying, selling and inventory allocation processes for licensed dealers throughout Canada and the United States.

Dealerships that are selling receive near real-time, guaranteed offers on their trades, allowing them to shorten the time to close a sale, which drives more business. Buying dealers get consistent access to inventory with a streamlined process that enables them to buy efficiently at scale.

Signal’s Predictive Inventory Engine (PIE) makes this possible, utilizing millions of real-time vehicle and market data points to assist dealers in optimizing their inventory mix and understanding what is and isn’t selling for them, and their geographic market as a whole. Using PIE, Signal can then show a dealer a curated list of available vehicles best suited to them. The signal platform is the only place where a dealer can purchase “20 vehicles in 20 minutes.” Vehicles are then delivered front line ready to dealers’ lots, with all logistics and transportation included in the price.

“We are very excited to partner with Steve and the Signal team. Their technology-focused disruptive approach to the overlooked wholesale automotive market is driving considerable value for both buyers and sellers,” said Nate Locke, managing partner, Kayne Partners Fund.

Signal will utilize the financing to expand its dealer network across North America and further investment into its technology platform and data analytics capabilities to enable its dealer partners to be even more efficient.

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Last modified on Friday, 13 November 2020 14:43