CORI Innovation Fund leads investment round in ShyftAuto
HARTLAND, Vt. — Today, the CORI Innovation Fund (CIF) announced an investment in ShyftAuto (ShyftAuto), a provider of solutions for automotive service centers to enable and enhance mobile customer interaction and retention.
CIF is a Qualified Opportunity Fund that invests in high-growth technology companies supporting job creation and revenue generation in small towns across America. CIF is leading this funding round in order to provide ShyftAuto with capital to expand its sales and growth strategy. ShyftAuto will open a new headquarters in an Opportunity Zone located in Wilson, North Carolina, and will become a Qualified Opportunity Zone Business.
ShyftAuto is an end-to-end platform allowing vehicle repair servicers to provide customers with contactless pickup and return, communication about service and upgrades, payment capabilities, and car loaner fleet management solutions. The company’s subscription software products allow servicers to increase retention, customer satisfaction, revenue, and safety. ShyftAuto is also developing additional products for release later this year that will allow service centers to internally track ongoing repair work and better manage the quality and timing of repairs.
“ShyftAuto has experienced rapid customer growth over the past few months, and we are excited to partner with CIF for additional capital to fund our continued expansion,” said Marcus Aman, ShyftAuto’s CEO.
“Through the lens of Marcus’ significant experience within the auto repair industry, the entire ShyftAuto team has developed great solutions to enhance the mobile-enabled capabilities of auto service centers,” said Jay Bockhaus, Managing Partner of CIF. “We are pleased to support the team’s innovation and further growth in the community of Wilson, North Carolina, which is part of CORI’s Rural Innovation Network.”
ShyftAuto’s mission is to take the inconvenience and anxiety out of vehicle service for consumers while helping automotive service facilities increase revenue, retention, and customer satisfaction scores by offering a more engaging and completely digital experience. The company connects automotive service facilities with their customers through a mobile iOS, Android, or web-based application for appointment scheduling, pickup and delivery requests, status tracking, communication, and payment. The repair shop solution provides a white-labeled application on the service facility’s website, a dashboard to manage and schedule new appointments, a dispatching tool to manage loaner cars, fleets, and drivers for pick-ups, direct messaging capabilities with consumers, the ability to offer promotion pushes, payment solutions and vehicle tracking throughout the repair process.
About the CORI Innovation Fund
The CORI Innovation Fund (CIF) invests in growth businesses located in Qualified Opportunity Zones in the United States to enhance economic growth and job creation in small communities. CIF seeks out attractive technology-enabled operating businesses in rural geographies that are under-served by traditional venture capital institutions and identifies, funds, and supports the best tech entrepreneurs American small towns have to offer. For more information visit http://www.corifund.com.
About the Center on Rural Innovation
The Center on Rural Innovation (CORI) is a dynamic social enterprise solving America’s rural economic crisis by empowering small towns to build thriving digital economies. CORI’s three major initiatives form a comprehensive approach to catalyzing the digital jobs that drive sustainable economic success: the Rural Innovation Network, made up of 20 small communities nationwide dedicated to digital economic development; the Rural Opportunity Map, which incorporates hundreds of datasets to highlight promising rural areas; and the CORI Innovation Fund, which provides needed capital to innovative but underserved rural entrepreneurs. For more information visit www.ruralinnovation.us.