Investing in Toma

The U.S. automotive industry is a cornerstone of the national economy; America has nearly as many cars as people. There are roughly 18,000 franchised new-car dealerships in the U.S., which collectively pulled in over $1.2 trillion in sales in 2024. On top of that, they completed more than 270 million repair orders, raking in over $156 billion in service and parts revenue. 

Dealerships rely on one critical communication channel to get this all done: the phone. Calls are crucial to booking service appointments, tracking down parts, and handling inquiries, from financing and insurance to warranties. But they’re also one of the biggest pain points for dealerships. Most dealers rely on expensive and staff-heavy Business Development Centers (BDCs), which experience employee turnover rates nearing 50% — more than twice the national average.

On top of that, dealerships exist in near-perfect competition and derive most of their profit from service rather than sales, making customer retention the holy grail. Every missed call leads to frustrated customers and lost revenue, which is especially painful for the many dealers operating on low single-digit net margins, which continue to decline across the industry. 

In this perfect storm of a market, AI can make a massive impact — which is why we’re excited to back Toma. Toma is a fully integrated, AI-powered software suite designed to help dealerships operate more efficiently. The company has started with intelligent voice agents tailored for dealership service calls.

Toma’s agents plug into existing dealership software, handling interactions 24/7 with human-like accuracy. Toma accurately captures detailed customer information and vehicle data (including VIN, part numbers, repair orders, and vehicle models), schedules service appointments, processes parts orders, and efficiently books test drives in real time. The result? Faster service, more positive customer experiences, and stronger satisfaction ratings. This is just the start of what Toma will tackle, as dealers also have massive call volumes around sales, finance, IT, and more.

Toma’s vision extends far beyond voice automation. The team, led by founders Monik Pamecha (ex-Braze) and Anthony Krivonos (ex-Scale AI), is developing a broader automation suite to streamline one of the most labor-intensive operations in the country: running a car dealership. Toma reduces the operational burden on dealerships and frees up staff to focus on work that actually requires a human touch. 

Monik and Anthony are exceptional product builders and technologists, with a deep understanding of their customers. They’ve impressed us — and more importantly, their customers — with their thoughtful approach, technical expertise, fast execution, and commitment to addressing customer pain points. From California to Oklahoma to New York, their dealership partners are spreading the word across the industry. 

We’re thrilled to lead Toma’s Series A and to partner closely with Monik, Anthony, and team Toma. We believe they’re going to redefine how dealerships operate, setting a new standard for customer service.

If you manage dealership operations and want to see what one of the best AI voice agents in the business can do, reach out to the Toma team at hi@toma.com. And if you’re looking to help shape the future of dealership operations, they’re hiring.