Acquisition Adds Conversational AI Capabilities to Fuel Company Growth
NEW YORK, NY, May 11, 2021 – SpinCar, the global leader in digital automotive merchandising software and data, announced today that it has acquired Pulsar AI, creator of the auto industry’s most advanced conversational AI platform. By combining Pulsar’s automated communication technology with SpinCar’s industry-leading digital merchandising offering, the company will expand its solution set to drive greater levels of online shopper engagement and lead conversion for auto retailers. The acquisition will enable SpinCar to extend its shopper data and digital content assets into additional dealer communication channels and customer touchpoints. Pulsar’s AI technology will be integrated into the SpinCar platform and Pulsar’s 30 employees will become part of SpinCar’s expanded global Product, Operations and R&D organization.
“Pulsar’s team of deep learning specialists, developers, data scientists, linguists and operations personnel have developed some of the most powerful conversational AI capabilities available today,” said Devin Daly, SpinCar Co-Founder and CEO. “We are thrilled to welcome them to the SpinCar family, and we look forward to leveraging Pulsar’s expertise and technology innovations to deliver even greater business results for dealers of all sizes and types. This acquisition will enable us to accelerate our platform expansion efforts to meet growing demand for digital capabilities that deliver more engaging and personalized experiences to vehicle shoppers at every touchpoint.” Michael Quigley, SpinCar Co-Founder and Chief Strategy Officer added, “The acquisition of Pulsar, along with future acquisitions of innovative technology companies in the auto space, represents a key component of our growth strategy.”
Dachi Choladze and Zaal Gachechiladze began working together in 2016, developing AI technology for financial companies in the country of Georgia. In 2019, Sopo Chkoidze joined the team and together they founded Pulsar to create conversational AI technology for auto retailers. Georgian-American entrepreneur George Arison actively supported the company and helped the team identify the unique opportunity in the auto retailing space. The company was among the first to receive support from Georgia’s Innovation and Technology Agency (GITA). This transaction represents the first foreign acquisition of a tech company in the country of Georgia. Early company investors include New York-based Great Oaks Venture Capital and San Francisco-based Ridge Ventures.
Pulsar’s conversational AI platform leverages proprietary Machine Learning (ML) models and Natural Language Processing (NLP) combined with Artificial Intelligence technology to engage online shoppers in personalized two-way conversations. The company’s technology increases the efficiency and effectiveness of dealership BDCs and Internet Sales operations by delivering immediate, relevant and persistent follow-up to every online lead submission. Pulsar’s automated communication capability can respond to an unlimited number of shopper inquiries via email or text.
“SpinCar has established itself as a trusted partner to thousands of auto dealers around the world, and we share a common belief that technology can be used to drive operational efficiencies while also delivering a better shopping experience,” said Dachi Choladze, Pulsar Co-Founder and CEO. “Innovations that we have made in the field of conversational AI are setting new standards for dialog automation. Joining SpinCar will enable us to further accelerate the development of applications that leverage the power of conversational AI.”
As traditional brick and mortar dealers face growing competition from highly capitalized, digital-first auto retailers, the need for business transformation is more critical than ever. SpinCar’s expanding data sets, content libraries and technology applications are helping thousands of dealers drive operating efficiencies while delivering seamless and more personalized omni-channel experiences to meet the needs of today’s consumer. With the Pulsar acquisition, SpinCar will maintain offices in New York (NYC and Syracuse), San Francisco, Tbilisi, Manchester (UK) and Toronto.
SpinCar offers automotive dealers, wholesalers, OEMs and third-party marketplaces the industry’s most advanced platform for digital merchandising. The company’s suite of 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 digital technology applications enable vehicle sellers to deliver hyper-personalized interactions across the entire car buying journey. To date, the company has delivered more than 1.5 billion shopper interactions across more than 40 countries. To learn more about SpinCar, visit SpinCar.com.
Special Quote from The Prime Minister of Georgia
Please read the quote below from the Prime Minister of Georgia, H.E. Irakli Gharibashvili, who believes that this acquisition marks an important milestone for his country:
“Today we are witnessing the result of a successful innovation reform. Georgian startup Pulsar AI crossed the borders and oceans, fulfilling every startup’s dream!
Our government’s vision of building a knowledge-based and innovation-driven economy was institutionalized in 2014 by creating Georgia’s Innovation and Technology Agency (GITA). We are extremely happy that in this short period of time, a technology ecosystem has rapidly emerged.I would like to congratulate the whole Pulsar AI team for their amazing achievement. It is a clear demonstration that Georgia is making excellent progress in creating and nurturing globally scalable startups.”