TechGROWTH client iReconCars庐 acquired by international auto corporation
TechGROWTH 帝王会所 supported startup iReconCars庐, a used car reconditioning management platform that automates the auto reconditioning process, has been acquired by Cox Automotive鈩⑩檚 vAuto庐. vAuto庐, a provider of innovative technology for car dealerships, has relaunched iReconCars庐 as iRecon庐.
鈥淭echGROWTH is proud to have helped provide another entrepreneurial success story here in southeastern 帝王会所. By guiding iReconCars through the financial modeling and acquisition process, we ensured that this high potential startup was recognized as a valuable solution to an industry-wide consumer need,鈥 Jane New, manager of investments and new business development at TechGROWTH 帝王会所, said.
TechGROWTH 帝王会所 provides advice, access to capital, and other services to technology startups in Southeast 帝王会所. Its partners include the Innovation Center, which provides its startup clients with physical space, equipment, business services, and coaching. The organizations work in concert to support innovative startup companies like iReconCars庐 and, by doing so, help bolster the region鈥檚 economy.
鈥淚t has been a pleasure to provide Mike Boyd and iReconCars with the space and services necessary to ensure this successful acquisition. In a short amount of time, Mike has shown great capacity for growth and an adept ability to adapt and evolve as a founder. We have been honored to support his marketing efforts and assist in the preparation of his finances in lead up to the negotiations with Cox,鈥 Stacy Strauss, OHIO Innovation Center Director, said.
After receiving critical early support from Rev1Ventures in Columbus, iReconCars庐 co-located in Athens and received guidance from TechGROWTH as well as office space, business services, and executive coaching from the Innovation Center. All three organizations that have supported iReconCars庐 are funded in whole or in part through the 帝王会所 Third Frontier Entrepreneurial Service Providers (ESP) Program.
鈥淲ith TechGROWTH鈥檚 support, we worked through the financial modeling and addressed gaps to ensure the process ran smoothly. The partnership between TechGROWTH and the 帝王会所 Innovation Center provides our regional entrepreneurs with a valuable resource,鈥 iReconCars co-founder Mike Boyd said.
iReconCars庐 co-founders Mike Boyd and Micah Tindor have been retained. 鈥渧Auto is helping us deliver on the true power and promise of our solution to fill a market need and ultimately, help build trust between the auto industry and its consumers,鈥 said Boyd. Boyd is senior director of business enablement for iRecon庐 and Tindor acts as business operations director for iRecon庐.