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Modal, Automotive E-commerce Leader, Announces $15M Series A, Teams Up with Honda and Acura to Offer National Contactless E-Commerce

Dec 08, 2020•almost 5 years ago

Amount Raised

$15 Million

Round Type

series a

San Francisco

Description

 Modal, which provides e-commerce to the world's leading automotive dealers and brands, today announced a $15 million Series A financing, led by its newest automotive partner, American Honda, with existing investors participating in and completing the round. Modal's automotive e-commerce platform enables car dealers and brands to deliver contactless, optimized, and fully transacted online buying that fits inside their own webpages, while increasing sales profits by up to 80 percent.

Company Information

Company

Modal:

Location

San Francisco, California, United States

About

Modal (formerly Drive Motors) provides e-commerce to the world's leading automotive dealers and brands, empowering them to delight their customers with transparent digital commerce that fits into their existing website and showroom experiences. Founded in 2015 in San Francisco by Aaron Krane, a former Entrepreneur in Residence at multibillion-dollar VC fund Khosla Ventures, the company delivers contactless, optimized, and fully transacted online buying. For more information, visit modalup.com and follow them on Twitter, Facebook, Instagram, and LinkedIn.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech