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Accel Partners has made a major investment inDealer.com, a company that provides SaaS marketing solutions to auto dealers. Accel partner Todd MacLean will join company’s Board of Directors as part of the transaction, which is estimated to be north of $30 million.
Based in Burlington, VT, Dealer.com sells a SaaS application that manages auto dealers’ web presence from start to finish. Features include SEO management, tools for online advertising, online video, social media, lead management, inventory marketing and performance analytics. The company works with independent dealers, franchises, ad agencies and more.
With the recent shift towards purchasing cars online and the success of sites like eBay mobile, Dealer has been seeing success. Revenues reached $85 million in 2010, an increase of over 60 percent from 2009 and more than triple the 2008 level, and the company expects to pass $100 million in revenue in 2011.
MacLean tells is that this investment is consistent with the Accel growth fund theme of funding fast-growing companies and authentic entrepreneurs who have built a solid company and a great culture.
Clients include Subaru of New England, the American Suzuki Motor Corporation, Jaguar, Audi, BMW, Fletcher Jones Automotive Group, which features the largest Mercedes Benz dealership in the U.S., as well as Gurley Leep Automotive Group and Napleton Automotive Group.
Dealer.com had previously raised $5 million in funding in 2010.