Competitive Landscape - CYTK, Identifix, and AllData
A competitive landscape has been conducted on the following companies in the MRO space: CYTK, Identifix, and ALLDATA. For each of these companies, we have provided a brief description of the company, their unique proposition, their underlying technology, and any corporate partnerships they might have. However, after an exhaustive search, we could not find information about the funding from venture capital companies, but we found helpful sources behind paywalls that may have the requested information. Below is our methodology for finding the amount of funds raised from venture capital companies as well as a deep dive into our key findings.
In order to provide the amount of funds raised by CYTK, Identifix, and ALLDATA from venture capital companies, our primary search involved scouring through the websites of the three companies. This helped us get information on the other data points, but we did not find any information on funding from venture capital companies. We then searched for the company profiles through credible sites like Owler, Hovers, OpenCorporates, and Craft.co, but we could not find any information regarding funding from venture capital companies. Next, we leveraged online journals and newspapers such as New York Times, but could not find any news on funding from venture capital entities to the three companies in this request.
Since we could not find any precompiled information about the funding from venture capital companies to the three companies above, we hoped to find any information from the company websites and the above databases regarding the total funding and the percentage of funding from venture capital. We could have arrived at the answer by calculating as follows:
Total funding from venture capital= % funding from venture capital x total funding from all sources.
However, the percentage was not available either. We even broadened our search to cover the maintenance, repair and operations industry, but no information was available for triangulation. For instance, Solera inc., which acquired Identifix, had no leading funding information to aid in finding venture capital funding for Identifix. Lastly, we searched on Crunchbase where the funding rounds data was available but locked for CYTK, Identifix and ALLDATA. Below is a deep dive into our key findings.
CYTK is an AI powered tech virtual assistant with a suite of mobile applications that help technicians and auto mechanics in vehicle maintenance, repair, and operations activities such as repair, inspection, and performing pin point tests. CYTK's technology helps techs carry out work procedures accurately and with increased human efficiency. CYTK's unique value proposition is: "CYTK provides a range of benefits for technicians, shops, and OEMs." Some of the benefits are:
- Ability to capture data through voice dictations so technicians do not need to make a correctly spelt query thus saving time
- Real time access to important vehicle information improves technicians' capability
- Its consistent use drives customer loyalty since procedures are predetermined
CYTK'S UNDERLYING TECHNOLOGY
- The usage of the CYTK suite of mobile applications requires iOS, android smartphones and Internet o Things (IoT).
- Apps have Natural Language Understanding (NLU) engine that harmonizes the technicians language and the repair procedure they want clarity on.
Data on funding rounds from venture capital companies for CYTK is available on Crunchbase, but requires payment to unlock.
Identifix is owned by Solera Holdings, has its headquarters in Roseville, Minnesota and serves automotive technicians and shop owners in the United States, Canada, and Latin America. They provide automotive repair technicians with the necessary tools and information that will help them be efficient and accurate in their work and ultimately be more profitable. They do this through three avenues: Direct-Hit online repair database, Identifix Repair Hotline, and the Direct-Shop management system.
Identifix's underlying technology includes:
- Phone call for direct repair requests
- Professional grade software solutions for an integrated shop management
- A basic package for invoicing and estimation
- Direct marketing -automated direct marketing system that allows aftermarket repair shops to send marketing information to immediate and past clients through services like direct mail, direct email, list appending, list maintenance and multichannel marketing.
Identifix's unique value proposition that sets them apart from the competition includes:
- They avail unedited factory data to aid technicians
- Can call clients to provide information or help book a demo upon filling a form
- Direct calls cost no more than $65.50 for non-subscribers and issues are resolved on the first call
- Hotlines divided into five car lines to make sure only respective experts are contacted.
Information on funds from venture capital companies to Identifix is available behind paywalls, but it requires payment to unlock. Identifix partnered with Hunter Engineering, a key player in the inspection and equipment industry. The partnership saw all Hunter Engineering Quick Check inspection systems equipped with Identifix's Diagnostic Health Report powered by Code Assist. The Code Assist technology helps the Hunter Quick Check systems to upgrade their inspection systems and provide valuable vehicle diagnosis information to repair shops. Another notable partnership is its acquisition by Solera Holdings.
ALLDATA is a leading online automotive repair solution that gives automotive technicians up-to-date information on automotive repairs. They provide Original Equipment Manufacturers (OEM) information and collision repair information consisting of repair, collision, manage online, tech assist, training garage and do it yourself (DIY).
ALLDATA's unique value proposition that gives them a leg up over their competitors includes
- Unedited OEM and tech verified data
- Color wiring to supplement direct wiring diagrams for faster and clear view of repair procedure
- Repair technicians can view live sensor data and ALLDATA community verified data that helps them to reduce the time they take to repair the vehicles
- Intuitive interface
- Its business manage online can run important business management reports and maintain contact with customers through inbuilt customer relations manager
- Incorporates ASE certified tech assistants to help repair technicians.
ALLDATA's underlying technology incorporates OBDII connectivity device and ALLDATA mobile app for wireless connection that enables technicians to read and decode VIN, view and clear P-codes and move from DTC to testing procedure. ALLDATA has partnered with the following companies in the automotive industry: 3M, Auto Care Association, AAMCO Transmissions, AIA Canada, ASA, Bosch, CarMax, Caliber Collision, Jiffy Lube, among others. Funding from venture capital companies to ALLDATA may require payment to access on Crunchbase.