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Toma’s AI voice agents have taken off at car dealerships – and attracted funding from a16z
- Toma, an AI voice startup co-founded by Monik Pamecha and Anthony Krivonos, shifted focus to car dealerships after being approached by dealers drowning in phone calls.
- The co-founders tested their voice agent by calling numerous car dealerships and found that calls were only picked up 45% of the time, leading them to explore the industry further.
- Pamecha and Krivonos visited car dealerships in Oklahoma and Mississippi, immersing themselves in the business operations to understand customer needs and operations.
- The hands-on approach paid off as they secured customers and gained valuable insights, resulting in Toma's AI voice agent being used in over 100 dealerships nationwide.
- Toma received a $17 million investment led by a16z, with additional funding from Y Combinator, Scale Angels fund, and industry influencer Yossi Levi.
- The AI voice agent helps with service scheduling, parts orders, sales inquiries, and more, providing a standardized and consistent customer experience for dealerships.
- Dealerships struggle with fluctuating call volumes, and AI technology like Toma helps in streamlining processes and enhancing customer interactions.
- Toma's onboarding process involves training the AI on dealership-specific calls to ensure it can effectively handle inquiries and provide relevant information.
- The subscription-based model of Toma's AI agents allows for scalability and additional capabilities, leading to increased operational efficiency for dealerships.
- The Series A funding round has enabled Toma to expand its team and offerings, marking significant growth for the startup in the automotive industry.
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