Vital Insights Gets $20M From Bregal Sagemount To Drive Auto Sales SaaS To New Markets

Vital Insights, an enterprise startup focused on providing a cloud-based customer experience management solution to the automotive industry, has announced a $20 million growth round from a single investor, private equity firm Bregal Sagemount. This is a first round of funding for the company, which has actually been cash-flow positive since 2008, seeing revenue growth of 30% in the first half of 2012. The company's flagship product, ForesightTM, is already in use across 4,000 dealerships with 125,000 enterprise users, covering such brands as Mercedes-Benz, Maserati, Jaguar Land Rover, Volkswagen, BMW, Audi and Infiniti. Jason Tryfon, CEO and founder of Vital Insights, tells TechCrunch the funding will be used to expand the Canada-based business further internationally. The success of Vital Insights, growing on its own revenue steam, is another example of how enterprise startups are finding a groove right now, building on the new vogue for cloud services and an increasing receptiveness among enterprises for more disruptive, immediate solutions to their pain points, a trend we covered in more depth a few days ago. "We disrupted a segment where the processes and technology to manage customer experience hadn't changed for years. We'd built a technology where data workflow and process worked much faster, and really have helped with customer satisfaction. The market was ready," he told TechCrunch.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/nABQI1v1q74/

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