PromptPath, an AI-powered conversation assistance platform for automotive dealerships, has raised $12 million in a Series A funding round led by FM Capital and Armory Square Ventures.
The round also saw participation from Automotive Ventures, Holman Ventures, and several established automotive dealers and dealer groups.
The company also announced that Keith Jezek has joined its board of directors. Jezek brings extensive experience in automotive technology and leadership. He previously served as CEO of Open Lending, co founded and led vAuto as CEO and was President of Cox Automotive’s Retail & Media Solutions division.
“Dealers know that better conversations result in happier customers and more business, but have often lacked proven tools to provide the real-time coaching insights and process visibility needed to make meaningful operational changes,” said Amit Maheshwari, CEO of PromptPath. “This support from premier automotive VCs and dealer family offices allows us to harness AI responsibly to deliver actionable sales and service conversation and coaching insights to more dealerships and partners, at every customer touchpoint, and advance our product roadmap.”
“Armory Square Ventures focuses on companies that aim to solve large problems and transform verticals in the process,” said Somak Chattopadhyay, Managing Partner at Armory Square Ventures and PromptPath Board Director. “Voice AI is a hot topic nowadays, but what attracted us to PromptPath.ai was its platform vision, proven benefits with multiple customer groups in a mega-vertical, and an experienced team.”
How PromptPath Uses AI to Improve Dealership Conversations
PromptPath uses proprietary AI technology to help automotive dealerships get more value from customer conversations. Its platform provides dealership employees with real-time prompts and relevant customer information, helping them manage interactions more effectively.
The technology connects customer conversations across the entire buying journey from the first phone call to the final vehicle delivery. This helps dealership teams maintain context, improve customer engagement, and create a more connected sales and service experience.
PromptPath also makes conversation insights available to dealerships’ other technology partners. These partners can use the information to automate processes and improve sales and service operations.
Bringing People Skills Back to Automotive Retail
PromptPath aims to make customer conversations more valuable throughout the dealership experience. By combining AI assistance with customer context, the company wants to help dealership teams improve interactions and achieve better returns on their technology investments.
The company describes its mission as keeping conversations flowing from the phone to the showroom while bringing people skills back to the forefront of automotive retail.
