Tampa-based STELLA Automotive AI raised $22.1 million in a Series B round led by Maroone USA to expand the artificial intelligence technology it sells to car dealerships.
STELLA started raising the money June 1, and the round includes both new investment and earlier convertible notes that became equity. The company told federal regulators it could raise nearly $26 million and had sold about $22 million to 29 investors by mid-June, leaving roughly $4 million still available at the time.
The company builds AI that can answer a dealership’s phone, book service appointments, follow up with sales leads and reach customers the dealer wants to bring back. Because the software works with systems dealerships already use, dealers can hand off some of those repetitive calls and follow-ups without replacing their existing technology.
“We’ve seen firsthand the impact STELLA has had in helping our dealerships improve both customer engagement and productivity,” CEO Michael Maroone said. “The products address real dealership needs, and the company’s continued growth reflects the value dealers are getting out of the technology.”
STELLA originally focused on customers calling dealerships, but its newer Catalyst product can start the conversation itself. Dealers can use it to reach customers who are due for service or have stopped coming in, turning software built to answer calls into another way to bring business back through the door.
That expansion comes as STELLA says dealership groups are adding its technology to stores each week. Its AI now handles tens of thousands of customer calls 24 hours a day, giving the Tampa company a growing base of dealership traffic as it puts the new capital toward further commercial expansion and product development.