Venture capital infusion helps company market new SpinCar product into automotive market
NEW YORK — (BUSINESS WIRE) — September 23, 2014 — SwipeToSpin, a developer of 360 content creation tools, announced today that the New York startup has just closed an additional round of venture capital funding.
This new funding, coming from Stonehenge Growth Equity Partners follows a venture capital investment in February from Cross Continent Capital and StartFast Venture Accelerator.
“With this funding, SwipeToSpin can continue our expansion in the automotive marketplace,” said Devin Daly, SwipeToSpin CEO. Earlier this year, the company launched SpinCar, an automotive-focused version of their 360 software. “Since then, we’ve had immense success with auto dealers using the software on their websites to present 360 interactive views of their vehicle inventory,” said Daly.
Bill Feinstein, president and dealer manager of Planet Honda in Union, NJ, is a SwipeToSpin customer and fan. He said SpinCar “drives people to my dealership’s website and lets the customer be in control of their experience … The longer they spend on the vehicle display page, the more likely they are to take the next step and submit a lead or show up at the store.”
“SpinCar engages customers as they click on a vehicle for pictures of the interior, the engine, and even the trunk,” said Daly. “Our 360 imaging increases the stickiness of a website through visitor interaction and keeps a visitor on the dealership’s site longer, translating into more leads and sales.”
Website stickiness and the ability to engage customers are what SwipeToSpin does best, and what has made the product so effective in the publishing, retail, and automotive markets. Daly, considered an expert on customer engagement, is set to speak on that topic Thursday, September 25, at the Digital Dealer Conference in Las Vegas.
SwipeToSpin, founded in 2011, is a New York-based software company that develops and markets proprietary, patent-pending software for creating, enriching, and publishing photorealistic 360 content. Customers include Popular Science, Nerf, Olympus, Schick, and auto dealers throughout the country.
Diane Bates, 678-438-3674