TruVideo – a leader in AI- and AR-driven communication technology for the transportation industry – announced that it has secured a $40 million minority growth investment from TZP Growth Equity.
This investment will drive TruVideo’s continued innovation, product development, customer service and market expansion as it advances its mission to revolutionize customer communication and engagement.
TruVideo is a market leader in customer engagement software, supporting over 6,700 dealerships. And TruVideo has achieved remarkable year-over-year revenue growth. The company’s team has developed customized machine learning and AI models using their data from over 100 million customer videos, text and voice conversations. The platform delivers improved customer experiences that benefit OEMs, dealerships, partners and their customers.
As part of the funding, Shamit Mehta will join TruVideo’s Board of Directors.
TD Securities acted as the strategic advisor to TruVideo, with Goodwin Procter providing legal counsel on the transaction. Greenberg Traurig served as legal counsel to TZP Growth Equity.
KEY QUOTES:
“This investment validates the quality of our innovation and the growth we have delivered. Our focus on communication technology has had a transformational effect on revenue and customer experiences for our direct dealers, software partners, and OEM relationships.”
- Joe Shaker, TruVideo Co-Founder and CEO
“Leading companies are integrating our cutting-edge AI, AR, and video technologies into their platforms, revolutionizing how they deliver service and engage customers. Our flexible technology, powered by microservices and low-code/no-code solutions, ensures seamless integration and rapid deployment—making it easier than ever for service software companies to lead with innovation.”
- Douglas Chrystall, TruVideo Co-Founder and CTO
“TruVideo’s innovative platform addresses a critical need in today’s market—enhancing transparency and trust in customer communications. We’re excited to partner with Joe Shaker, Douglas Chrystall, Kevin Marinelli and the entire TruVideo team as they continue to lead the industry in customer engagement.”
- Shamit Mehta, Partner with TZP Growth Equity
