ResponseLogix(TM) Closes $8 Million in New Funding
July 22 2008 - 4:00PM
PR Newswire (US)
SAN FRANCISCO, July 22 /PRNewswire/ -- ResponseLogix, Inc.
announced today the close of an $8 million Series A round of
financing, led by GRP Partners and Shasta Ventures with support
from A. H. Belo Corporation and the Belo Corp. ResponseLogix will
use the money to continue to grow and scale its platform of tools
and services for automotive dealers' Internet sales. "ResponseLogix
has created a valuable and exciting technology platform for
managing automotive sales leads. ResponseLogix's solutions suite
significantly increases the close rate of dealers using the web to
sell," said Steven Dietz, partner at GRP Partners. "We're delighted
to invest in ResponseLogix to accelerate the adoption of its
ground-breaking technology in the automotive community."
ResponseLogix has seen significant momentum since it began
operations in early 2007. Automotive dealers using the full
ResponseLogix suite of solutions have seen increases in Internet
sales of over 50% on average. When a consumer submits a request for
information on a car, ResponseLogix delivers back a price quote
from the dealer right away. It then continues communications
throughout the buying cycle on the dealer's behalf and alerts the
dealer when the consumer is ready to buy. This consumer-friendly
communication approach has proven to grow dealer revenues, profits
and customer satisfaction. "Since ResponseLogix entered the
marketplace in 2007, they have been a driving force in the growth
of online sales for its automotive customers," said Jason Pressman,
partner at Shasta Ventures. "We see tremendous promise in the
solutions it offers to automobile dealerships. ResponseLogix has
cracked the code in attaining significant Internet sales
improvement by dealerships, and how these dealerships serve their
quickly growing base of online customers." ResponseLogix's core
offerings are SmartQuote, SmartFollow, and SmartFacts, a suite of
software solutions that assist dealers in reacting to, and
managing, their Internet leads. SmartQuote provides a relevant,
rapid quote back to all Internet leads within 10 minutes, 100% of
the time. SmartFollow continues the conversation with the potential
customers, and, if the lead goes cold, works to re-engage them with
the dealer. SmartFacts provides key data to the dealers to enable
them to better manage their processes and sales force.
"ResponseLogix technology provides our automotive dealer
advertisers industry-leading solutions to more efficiently manage
Internet-generated customer inquiries," said Dave Ellett, president
and General Manager of Belo Interactive Media. "Auto dealer
advertisers implementing ResponseLogix benefit by improving
customer follow-up and tracking online leads, potentially resulting
in a shortening of the sales cycle and higher sales volume." "The
investment in ResponseLogix gives Belo Corp. the opportunity to
provide our automotive dealer advertisers tools to more
successfully manage Internet-generated customer inquiries in our
television markets," said Dunia A. Shive, Belo Corp.'s president
and Chief Executive Officer. The company has veteran top executives
in its management team including former Knight Ridder Digital
president Tom Mohr, and former Dealix vice presidents Steve Pace,
Tim Weaver, and Jagdish Rajan. "In the past year we have built a
great team and coupled it with a strong and scalable technology
platform," said ResponseLogix CEO Tom Mohr. "This capital will help
us move forward in key areas of our business and further accelerate
our growth and leadership in the automotive Internet sales arena."
About ResponseLogix Founded in early 2007, ResponseLogix takes auto
dealers' Internet sales departments to the next level of
productivity and profitability. ResponseLogix solves the three
biggest challenges in the Internet sales process: the speed and
quality of initial response to leads; the impact and consistency of
ongoing follow up; and, the effectiveness of the live
communications in-between. ResponseLogix is the only solution in
the marketplace that solves all three of these issues while
delivering personalized messages to the customer that are timely,
consistent, and relevant. ResponseLogix incubated its business on
the premises of a Top-25 Internet dealership in Sunnyvale,
California. To learn more about ResponseLogix, visit
http://www.responselogix.com/. About GRP Partners GRP Partners is a
venture capital and growth equity firm focused on financing and
helping to build services providers and related technology
companies, retail and consumer services companies, financial, and
business services providers. GRP Partners finances outstanding
early-stage and late-stage companies that have developed solutions
meeting pressing consumer and business needs. Over the course of
nearly 20 years, the GRP Partners team has been involved with many
companies that have become household names today, such as Costco,
Starbucks, PETsMART, Office Depot, Ticketmaster, P.F. Chang's,
[Overture Services (acquired by Yahoo!), Dick's Sporting Goods,
Zany Brainy, lastminute.com] and many others. GRP Partners manages
approximately $900 million. To learn more about GRP Partners, visit
http://www.grpvc.com/. About Shasta Ventures Shasta Ventures is an
early-stage venture capital firm investing in technology-enabled
businesses serving consumers and enterprises. Located in Menlo
Park, Calif., Shasta Ventures manages $460 million. Shasta was
formed in 2004 by venture capital veterans and invests across
consumer and business services, infrastructure and software. For
more information on Shasta Ventures, please visit
http://www.shastaventures.com/. About A. H. Belo Corporation A. H.
Belo Corporation (NYSE:AHC) headquartered in Dallas, Texas, is a
distinguished news and information company that owns and operates
four daily newspapers and 12 associated Web sites. A. H. Belo
publishes The Dallas Morning News, Texas' leading newspaper and
winner of eight Pulitzer Prizes since 1986; The Providence Journal,
the oldest continuously-published daily newspaper in the U.S. and
winner of four Pulitzer Prizes; The Press-Enterprise (Riverside,
CA), serving southern California's Inland Empire region and winner
of one Pulitzer Prize; and the Denton Record-Chronicle. The Company
publishes various specialty publications targeting niche audiences,
young adults and the fast-growing Hispanic market. A. H. Belo also
owns direct mail and commercial printing businesses. Additional
information is available at http://www.ahbelo.com/. About Belo
Corp. Belo Corp. is one of the nation's largest pure-play,
publicly-traded television companies, with annual revenue of
approximately $775 million. The Company owns and operates 20
television stations reaching more than 14 percent of U.S.
television households, including ABC, CBS, NBC, FOX, CW and
MyNetwork TV affiliates, and their associated Web sites, in 15
highly-attractive markets across the United States. Belo stations
consistently deliver distinguished journalism for which they have
received significant industry recognition including nine Alfred I.
duPont-Columbia University Silver Baton Awards; nine George Foster
Peabody Awards; and 23 national Edward R. Murrow Awards -- all
since 2000, and in each case more than any other commercial station
group in the nation. Nearly all Belo stations rank first or second
in their local market. Belo owns stations in seven of the top 25
markets in the nation, with six stations located in the
fast-growing, top-14 markets of Dallas/Fort Worth, Houston,
Seattle/Tacoma and Phoenix. Additionally, the Company has created
regional cable news channels in Texas and the Northwest increasing
its impact in those regions. Additional information is available at
http://www.belo.com/. Contacts ResponseLogix: Tom Mohr, President
(408) 533-0222 GRP Partners: Steven Dietz, Partner (310) 785-5100
Shasta Ventures: Jason Pressman, Partner (650) 543-1700 A. H. Belo
Corporation: Maribel Correa, director/Investor Relations, at (214)
977-2702 Belo Corp.: Paul Fry, VP Investor Relations and Corporate
Communications (214) 977-6835 DATASOURCE: ResponseLogix, Inc.
CONTACT: Tom Mohr, President of ResponseLogix, +1-408-533-0222; or
Steven Dietz, Partner of GRP Partners, +1-310-785-5100; or Jason
Pressman, Partner of Shasta Ventures, +1-650-543-1700; or Maribel
Correa, director of Investor Relations of A. H. Belo Corporation,
+1-214-977-2702; or Paul Fry, VP Investor Relations and Corporate
Communications of Belo Corp., +1-214-977-6835 Web site:
http://www.responselogix.com/ http://www.grpvc.com/
http://www.shastaventures.com/ http://www.ahbelo.com/
http://www.belo.com/
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