Click here to close now.


SAP HANA Cloud Authors: Elizabeth White, Liz McMillan, Jayaram Krishnaswamy, Carmen Gonzalez, Pat Romanski

News Feed Item

Xtime Raises $23M in Venture Capital Funding

Plans to Expand Global Presence, Product Lines and Engineering Teams; Company Milestones Mark Leadership Position in Automotive Service CRM Market

REDWOOD SHORES, CA -- (Marketwire) -- 11/13/12 -- Xtime, the leading cloud-based Customer Relationship Management (CRM) and scheduling platform for the automotive service industry, announced today that it has raised $23 million in Series 2 funding. The funding is led by Bessemer Venture Partners, with participation from Lumia Capital and existing investors RPM Ventures and Saints Capital. Additionally, with the new funding come additions to its board. Jeremy Levine, partner at Bessemer Venture Partners, and Heidi Roizen, accomplished Silicon Valley executive and venture partner at DFJ now join Xtime's board of directors.

"We believe these new investments support Xtime's place as the dominant leader in the hosted CRM automotive services marketplace," said Neal East, CEO of Xtime. "Auto manufacturers and dealers around the world have already embraced Xtime's award-winning solution in order to capture lost revenues, improve the customer service experience and retain brand loyalty."

Auto manufacturers and dealerships currently capture less than 33% of the market for maintenance and repair services, leaving billions of dollars on the table each year. As well, service department utilization rates are often below 75% and retention rates, post warranty, are often less than 50%, according to recent market studies. This combination of poor customer retention and under utilization is the huge opportunity that Xtime addresses.

"Xtime has pioneered an innovative approach to solving the major problems that plague today's automotive industry around the globe," said Jeremy Levine, partner at Bessemer. "With brands like Hyundai, Nissan and Lexus embracing Xtime as their solution and experiencing a significant return on their investment, Bessemer simply did not want to miss the opportunity to back Xtime's bright future."

Xtime leads the market for Automotive Service CRM and has demonstrated significant success including:

  • Compound annual growth rate of 70% over the last 5 years

  • 11 global auto manufacturer partnerships

  • 4,800 dealership deployments in North America

  • Almost 2 million consumers registered around the globe

  • 8 offices around the world including North America, Europe, Australia and Asia

  • More than 225 employees across its global offices

"Xtime is a fast mover in this segment of the automotive industry, bolstered by a clear solution to an ages-old problem," said Heidi Roizen, venture partner at Draper Fisher Jurvetson. "This infusion of funding will support multiple deployments simultaneously, allowing rapid global expansion. I'm delighted to work with Xtime leaders to drive the company toward substantial growth and market penetration."

"We've been using Xtime's ServiceCRM for more than two years and I can't imagine running my department without it," said Roy McAlister, Service Director at Thomas Nissan, Joliet Illinois. "It's a great tool for planning and viewing our department's operations, much better than we get with a DMS. It saves us plenty of time and money and gives our customers a superior overall experience. We love it."

Xtime transforms the automotive service industry with its cloud-based platform that deeply integrates with each dealer's DMS to enable seamless interoperations with dealership business processes. The end result is a sophisticated user experience that amplifies customer retention, shop utilization and profits for dealerships, while driving increased auto parts sales and repurchase loyalty for automakers.

About Xtime
Xtime is the leading cloud-based Customer Relationship Management (CRM) and scheduling platform for automotive manufacturers and dealer service departments. Xtime counts more than 4,800 dealerships as customers and has registered almost 2 million consumers. It processes more than 1.3 million appointments each month and has scheduled almost 50 million in total. Xtime is the exclusive or preferred provider for leading global automotive manufacturers in North America, including Lexus, Toyota Canada, Toyota US, BMW, Mercedes-Benz, Nissan, Infiniti, VW, Audi, Chrysler and Hyundai. Xtime is also the trusted choice for many of the industry's leading dealership groups including AutoNation, Group 1 Automotive, Sonic Automotive, Asbury, Luther, Ferman and Checkered Flag. Xtime is based in Redwood Shores, California and can be reached at (650) 508-4300 or

About Bessemer Venture Partners
Bessemer Venture Partners (BVP) is a global venture capital firm with offices in Silicon Valley, Cambridge, Mass., New York, Mumbai and Herzliya, Israel. BVP delivers the broadest platform in venture capital spanning across industries, geographies, generations and stages of company growth. From Staples to Skype, VeriSign to Yelp, LinkedIn to Pinterest, BVP has helped incubate and support companies that have anchored tidal shifts in the economy. More than 100 BVP-funded companies have gone public on exchanges in North America, Europe and Asia.

Bessemer Venture Partners has been a leading investor in Cloud Computing for more than 12 years, supporting early pioneers in this high-growth market including Postini, Cyota, Trigo, and VeriSign. During this time, BVP has invested in more than 50 Cloud Computing companies that are driving this market transformation. BVP's current cloud portfolio is one of the largest in the venture capital industry and includes leading public and private companies such as Box, Broadsoft (BSFT), Cornerstone OnDemand (CSOD), DocuSign, Eloqua (ELOQ), LifeLock, LinkedIn (LNKD), Shopify, Twilio, and Wix. For more information, visit

About Draper Fisher Jurvetson
Draper Fisher Jurvetson (DFJ) is a venture capital firm that partners with extraordinary entrepreneurs who set out to change the world. Since 1985, DFJ and the DFJ Global Network have had $7B committed to their funds and have managed more than 400 portfolio investments, including AdMob, Baidu, Box, Skype, Hotmail, SpaceX, Tesla Motors, SolarCity, Twitter, Tumblr and Yammer. DFJ works with companies at seed, early and growth stages, with the goal of creating of iconic and lasting businesses. DFJ pioneers investing in emerging markets including consumer and enterprise information technology, digital media, and disruptive technologies. The DFJ Global Network is a federation of 16 independent venture funds operating on four continents that cooperate on investment diligence and co-investing. Learn more at

Media Contact:
Lisa Copass
Diboll & Associates
Marketing and Public Relations
(925) 550-1885
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The broad selection of hardware, the rapid evolution of operating systems and the time-to-market for mobile apps has been so rapid that new challenges for developers and engineers arise every day. Security, testing, hosting, and other metrics have to be considered through the process. In his session at Big Data Expo, Walter Maguire, Chief Field Technologist, HP Big Data Group, at Hewlett-Packard, will discuss the challenges faced by developers and a composite Big Data applications builder, focusing on how to help solve the problems that developers are continuously battling.
As enterprises capture more and more data of all types – structured, semi-structured, and unstructured – data discovery requirements for business intelligence (BI), Big Data, and predictive analytics initiatives grow more complex. A company’s ability to become data-driven and compete on analytics depends on the speed with which it can provision their analytics applications with all relevant information. The task of finding data has traditionally resided with IT, but now organizations increasingly turn towards data source discovery tools to find the right data, in context, for business users, d...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 150 developers, designers, quality assurance engineers, project manage...
Organizations already struggle with the simple collection of data resulting from the proliferation of IoT, lacking the right infrastructure to manage it. They can't only rely on the cloud to collect and utilize this data because many applications still require dedicated infrastructure for security, redundancy, performance, etc. In his session at 17th Cloud Expo, Emil Sayegh, CEO of Codero Hosting, will discuss how in order to resolve the inherent issues, companies need to combine dedicated and cloud solutions through hybrid hosting – a sustainable solution for the data required to manage I...
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud without worrying about any lock-in fears. In fact by having standard APIs for IaaS would help PaaS expl...
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Bradley Holt, Developer Advocate at IBM Cloud Data Services, will demonstrate techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user experience, both offline and online. The focus of this talk will be on IBM Cloudant, Apa...
SYS-CON Events announced today that Cloud Raxak has been named “Media & Session Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Raxak Protect automates security compliance across private and public clouds. Using the SaaS tool or managed service, developers can deploy cloud apps quickly, cost-effectively, and without error.
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the cloud and the best price/performance value available. ProfitBricks was named one of the coolest Clo...
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
Mobile messaging has been a popular communication channel for more than 20 years. Finnish engineer Matti Makkonen invented the idea for SMS (Short Message Service) in 1984, making his vision a reality on December 3, 1992 by sending the first message ("Happy Christmas") from a PC to a cell phone. Since then, the technology has evolved immensely, from both a technology standpoint, and in our everyday uses for it. Originally used for person-to-person (P2P) communication, i.e., Sally sends a text message to Betty – mobile messaging now offers tremendous value to businesses for customer and empl...
Learn how IoT, cloud, social networks and last but not least, humans, can be integrated into a seamless integration of cooperative organisms both cybernetic and biological. This has been enabled by recent advances in IoT device capabilities, messaging frameworks, presence and collaboration services, where devices can share information and make independent and human assisted decisions based upon social status from other entities. In his session at @ThingsExpo, Michael Heydt, founder of Seamless Thingies, will discuss and demonstrate how devices and humans can be integrated from a simple clust...
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, will discuss the impact of technology on identity. Should we federate, or not? How should identity be secured? Who owns the identity? How is identity ...
You have your devices and your data, but what about the rest of your Internet of Things story? Two popular classes of technologies that nicely handle the Big Data analytics for Internet of Things are Apache Hadoop and NoSQL. Hadoop is designed for parallelizing analytical work across many servers and is ideal for the massive data volumes you create with IoT devices. NoSQL databases such as Apache HBase are ideal for storing and retrieving IoT data as “time series data.”
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
“The Internet of Things transforms the way organizations leverage machine data and gain insights from it,” noted Splunk’s CTO Snehal Antani, as Splunk announced accelerated momentum in Industrial Data and the IoT. The trend is driven by Splunk’s continued investment in its products and partner ecosystem as well as the creativity of customers and the flexibility to deploy Splunk IoT solutions as software, cloud services or in a hybrid environment. Customers are using Splunk® solutions to collect and correlate data from control systems, sensors, mobile devices and IT systems for a variety of Ind...
SYS-CON Events announced today that Solgeniakhela will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgeniakhela is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional Social, Mobile and Cloud user experiences, our solutions help large and medium-sized organizations dramatically improve productivity, reduce collaboration costs, and increase the overall enterprise value by bringing ...
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, will show how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He will use a Raspberry Pi to connect sensors to web services, and cloud integration to connect accounting and data, providing a Bluetooth...
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Nowadays, a large number of sensors and devices are connected to the network. Leading-edge IoT technologies integrate various types of sensor data to create a new value for several business decision scenarios. The transparent cloud is a model of a new IoT emergence service platform. Many service providers store and access various types of sensor data in order to create and find out new business values by integrating such data.
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.