Skaivision Secures Investment from JM Family Enterprises

Skaivision Secures Investment from JM Family Enterprises

The capital infusion will accelerate Skaivision’s growth and support its ambitious research, development and innovation plans to scale operations to meet the growing demands of dealer groups.

Skaivision announced the close of its Series A growth funding round led by JM Family Enterprises, Inc. 

As part of this new partnership, Kai Ramadan, vice president of fixed operations for JM Family’s subsidiary Southeast Toyota Distributors, will join Skaivision’s Board of Directors.

The capital infusion will accelerate Skaivision’s growth and support its ambitious research, development and innovation plans to scale operations to meet the growing demands of dealer groups. Skaivision aims to broaden its customer base, deliver on its growing order pipeline, establish strategic partnerships and cement its position as the preferred choice for Computer Vision AI solutions for automotive retail.

“The new funding partnership marks a significant milestone for Skaivision in our commitment to streamline transactions and capture additional revenue for dealerships,” said Mark Queen, CEO of Skaivision. “We appreciate the value all our investors bring to our growth model and are beyond excited to join forces with JM Family. Not only are they an industry leader in service excellence, they are the perfect partner for us in terms of mindset and responsible AI deployment. With their knowledge and extensive network, the synergies are limitless.”

Since Skaivision was founded in 2021, the company has made rapid progress in its goal to improve dealership efficiency and customer experience. Following its introduction to the automotive industry in January 2023, the Computer Vision AI technology has been successfully implemented in dealerships with a range of use cases, including quick lube cycle time reduction, license plate recognition (LPR) vehicle acquisition offers, and proactive customer service index (CSI) alerts.

“SKAI has a highly differentiated and impactful approach which leverages AI powered Computer Vision technology to help automotive dealers provide employees with modern tools needed to enhance the customer experience, remove cost and deliver ROI,” said Pearl Percy, chief corporate development officer, JM Family Enterprises. “JM Family is committed to investing and partnering with innovative leaders, utilizing our sector expertise and capital to tackle modern challenges and create real value for our stakeholders and dealers.”

In addition to its family of companies, JM Family has a portfolio of strategic minority investments including The Predictive IndexRecurrent and ApplePie Capital.

For more information, visit JM Family and Skaivision.

You May Also Like

Strolid Launches Strolid Portal For Auto Dealers

Strolid Portal leverages vCon technology to provide insights from customer conversations, enhancing sales and service productivity.

Strolid announced its first product release, the Strolid Portal for auto dealers. Using actual customer conversations, the Strolid Portal enables deep operational insights into the entirety of dealerships, revealing improvement opportunities. Based on the upcoming IETF Internet Standard for Virtualized Conversations (vCons), the Strolid portal responsibly handles sensitive data, which is critical for ensuring regulatory compliance when using AI. Available today to all Strolid Sales and Service BDC customers, the Strolid Portal allows dealers to listen to customers at scale. The benefit to Strolid's dealers is more sales and service income and better sales productivity from a better understanding of their customers.

Central Dispatch Completes First Phase of its Transformation

This industry transportation marketplace delivers capabilities that enable enterprise clients to manage their business in one platform.

Impel Acquires Outsell in $100M+ Deal, Expanding to 8,000 Dealerships

Adding Outsell’s data-driven outreach capabilities to Impel AI creates an end-to-end global AI sales and marketing automation platform.

izmo, Inc Acquires Geronimo Web

izmo’s acquisition of Geronimo Web creates a global powerhouse in automotive digital retail.

APCO Holdings, LLC Acquires Capital Administrative Professionals

This strategic move expands APCO’s F&I product portfolio and strengthens its position in the automotive, RV and powersports industries.

Other Posts
APCO Holdings, LLC, Acquires Rider’s Advantage

This strategic move, following recent acquisitions, strengthens APCO’s position in the powersports, marine and RV industries.

Cox Automotive Names Joe Kichler to Brand New Position

Cox Automotive’s newly created role will accelerate connections between company’s digital wholesale and logistics solutions.

BendPak Awarded Sourcewell Cooperative Purchasing Contract

BendPak’s Sourcewell cooperative purchasing contract saves public agencies time and money when buying lifts and shop equipment.

Lax Hygiene Greatest Risk of Dealership Data Breach, Expert Says

Learn strategies combining human oversight and digital security measures from Terry Dortch to maintain compliance.