1,047% revenue growth driven by increasing demand for digital automotive merchandising technology
SYRACUSE, NY – November 7, 2019 — SpinCar, the global leader in digital automotive merchandising software, announced today that it ranked 118th on Deloitte’s Technology Fast 500™. The Fast 500, now in its 25th year, ranks the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.
SpinCar grew 1,047% between 2015 and 2018, buoyed by the ongoing shift in auto shopping from physical showrooms to online dealer websites and marketplaces. The company’s digital merchandising technology and data products enable auto retailers to move vehicle inventory faster while addressing the growing challenge of margin compression.
“The online vehicle showroom has become a critical driver of success for every auto dealer, and that’s why more and more of them have turned to SpinCar to transform the experience they deliver to today’s digital shopper,” said Devin Daly, SpinCar CEO. “Our growing portfolio of products and our deep commitment to helping dealers navigate the digital transformation that is taking place in the industry have enabled us to grow at an incredible rate. We look forward to continuing our efforts to bring innovative products and technology to automotive retailers and wholesalers around the world.”
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal yearrevenue growth from 2015 to 2018.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
SpinCar offers automotive dealers, wholesalers and OEMs the industry’s most advanced platform for digital automotive merchandising. The company’s 360° WalkArounds® and Feature Tour® products build trust between buyers and sellers by bringing the physical showroom experience to car shoppers wherever and whenever they want. SpinCar’s proprietary shopper behavioral data and VINtelligent® Retargeting solution enable vehicle sellers to deliver hyperpersonalized interactions across the entire car shopping journey. To date, 400 million virtual WalkArounds have been experienced by car shoppers across 20 countries. To learn more about SpinCar, visit SpinCar.com.
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