Impel, an Automotive AI solution provider, has announced the completion of a secondary share sale, bringing on venture capital firm FM Capital as a new investor and strategic partner. The transaction provides liquidity for early investors and former employees while connecting Impel with a network of 56 of the top U.S. dealer groups, representing more than 1,100 dealerships.
The move marks a significant validation of Impel’s market position and growth trajectory. The are following a model seen with high-growth tech companies like OpenAI and Stripe, where secondary offerings provide a path for new strategic investors to gain a stake. However, for Impel, the partnership with FM Capital is more than a financial transaction. It’s a strategic alignment with one of the most influential dealer-led investment firms in the automotive industry.
FM Capital’s Role in the Deal
FM Capital, founded in 2012 by Chase Fraser and auto dealer magnate B.J. “Red” McCombs, is known for investing in disruptive technologies that are transforming the automotive sector. Now managed by Fraser and former DaimlerChrysler Canada CEO Mark Norman, the firm’s limited partners include some of the largest and most innovative dealer groups in the country. This investment provides Impel with unparalleled access and insight into the operational needs of modern dealerships.
“In automotive retail, successful AI deployment hinges on two capabilities most vendors discuss but rarely deliver: differentiated data and meaningful dealership access. Impel is one of the few organizations that has built both,” said Chase Fraser, Managing Partner at FM Capital. “Their platform is trained on unmatched behavioral and merchandising data, and their impressive sales organization has earned the trust of thousands of dealers. That combination places Impel in a category of its own.”
Impel’s Growth
Over the past 10 years, Impel has quickly become one of the largest vertical AI companies in the space, serving 8,000 dealers and OEMs across more than 50 countries. The company’s Automotive AI Operating System provides a unified layer that integrates data and coordinates workflows across sales, service, marketing, and F&I.
“Impel’s extensive AI roadmap aligns perfectly with the rapidly evolving dealership ecosystem, supporting the industry’s need for continuous innovation,” said Bill Cariss, President & CEO of Holman Growth Ventures, a general partner in FM Capital. “Their impressive platform delivers versatile functionality as well as consistent, high-quality execution across several workflows that are critical to dealership operations. As AI continues to transform the automotive industry, we believe Impel is poised to be at the forefront of this evolution and we’re excited to support the company’s continued growth.”
The Future of Automotive AI
This new partnership with FM Captial is expected to accelerate Impel’s development of a fully connected AI ecosystem for automotive retail. By leveraging FM Capital’s extensive network, Impel aims to expand its customer base and deepen its technology integrations with other leading companies in the firm’s portfolio.
“With a deep commitment to fostering innovation and long track record of picking industry winners, FM Capital is an ideal partner to add to Impel’s investor base,” said Devin Daly, Co-Founder and CEO of Impel. “This investment is more than a validation of our AI leadership position; it’s another key step in our journey to fundamentally transform automotive.”
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