Overfuel Acquires 321 Ignition to Advance Automotive Sales Tech

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INDIANAPOLIS, Sept. 28, 2023 ~ Overfuel, an Indianapolis-based digital retail platform designed exclusively for the automotive industry, has acquired 321 Ignition, a mobile-first car-buying website platform. The combined resources will enable rapid innovation and product development, giving dealerships better options when it comes to choosing a technology partner.

Overfuel is aiming to revolutionize the mobile-first automotive buying experience and put control back into the hands of the dealership. With a focus on speed and user experience, Overfuel provides automotive dealers with a platform to improve their online presence, including AI-enhanced websites, digital retailing and modern SEO practices to calculate ROI on marketing spend.

According to Ryan Pfenninger, CEO at Overfuel: "In an industry that's been technologically dormant, companies like Tekion have demonstrated that an appetite for innovation still exists, paving the way for a new wave of software companies. Dealerships don't need another plugin or website vendor, rather a solution that works out of the box. That's why Overfuel has set out to consolidate every step of the customer journey into a single-point solution. This acquisition represents a significant step in our mission to revolutionize the way dealerships serve their customers online."

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A benchmark report by Wattspeed revealed that only 39% of automotive websites meet Google's recommended speed standards on mobile devices, ranking the automotive industry second-worst in terms of underperformance. Over 80% of car shoppers access these websites through mobile devices, presenting an immense opportunity for dealerships to engage with a wider customer base. Sluggish websites not only diminish search engine rankings but also yield lower conversion rates, incur higher pay-per-click advertising costs and potentially tarnish a dealership's brand image.

DJ Haddad, Cofounder of 321 Ignition said: "The opportunity in front of our combined teams is tremendous. The biggest problem in this industry is the tech and the products available to dealerships. Oftentimes, their websites are hosted on antiquated solutions with a dozen plugins cobbled on top, which hinders customer experience and harms overall performance. Combined with Overfuel's all-in-one platform, we're tackling the major problems dealerships face while meeting the demands of modern consumers, particularly in the mobile-first era."

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In addition to the acquisition news Overfuel also raised $500K pre-seed funding round led by Elevate Ventures which will be used to expand its onboarding and customer success team to support over 100 new customers signed since piloting in March this year. Christopher Day CEO at Elevate Ventures said: "From a technical standpoint many of market leaders in this space have been around for over 10 years and haven't focused on continued innovation We saw an interesting opportunity with Overfuel to solve massive industry problem The leadership team has deep SaaS experience with track record building great software We are excited about Overfuel's growth opportunity"

Overfuel is looking forward towards revolutionizing how dealerships serve their customers online by providing them with an all in one platform which will help them improve their online presence as well as provide them with better options when it comes to choosing technology partners for their business needs.
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