Veact GmbH

Background

Founded in 2010 and headquartered in Munich, Germany, Veact GmbH specializes in developing applications, processes, and products aimed at enhancing sales success within the automotive trade through data-driven marketing solutions. The company's mission is to empower automotive businesses to leverage real-time data, enabling personalized customer interactions that drive measurable revenue and create exceptional experiences throughout the entire customer lifecycle. Veact's innovative software and deep industry knowledge have positioned it as a significant player in the automotive marketing sector, with its solutions trusted by leading car brands and thousands of customers across Europe.

Key Strategic Focus

Veact's strategic focus centers on the digitalization of sales and marketing processes in the automotive industry. The company offers a cloud-based platform that integrates with dealership management systems (DMS) to streamline marketing campaigns and sales operations. By analyzing extensive data sources—including invoices, service histories, and customer feedback—Veact enables automotive businesses to create personalized, data-driven marketing campaigns. This approach aims to systematically boost total customer lifetime value through targeted customer interactions across various brands and locations.

Financials and Funding

As of November 2024, Veact GmbH reported annual revenues of approximately $15 million, with a revenue per employee estimate of $145,000. The company has undergone multiple funding rounds, including a Series B round in September 2018. Notable investors include Bayern Kapital, Fidura Private Equity Fonds, Technologie-Beteiligungs-Gesellschaft, and KfW Group. The capital raised has been utilized to fuel growth, enhance technological capabilities, and expand geographically.

Technological Platform and Innovation

Veact's technological platform is distinguished by its proprietary DataHub, a leading data platform for automotive retail and wholesale in Europe. The DataHub facilitates seamless data flow between dealership systems and a growing array of innovative applications from partners, ensuring fast, easy, and secure access to all relevant dealership data. This integration enables the creation of accurate 360° customer profiles and automated, personalized customer interactions fueled by data-driven insights. Veact's platform guarantees full compliance with data privacy and security standards, setting it apart in the industry.

Leadership Team

Philipp Posselt: Co-Founder, Chief Executive Officer, and Managing Director.

Jan Posselt: Co-Founder.

Marcus Kikisch: General Manager CSEE.

Constantin Stammen: Chief Financial Officer and Managing Director.

These leaders bring extensive experience and expertise to Veact, driving the company's strategic initiatives and growth.

Competitor Profile

Market Insights and Dynamics

The European automotive market comprises approximately 380,000 car dealerships and workshops, representing a substantial opportunity for sales growth and market expansion. Veact's focus on digitalizing marketing and sales processes positions it to capitalize on this vast market potential.

Competitor Analysis

Veact operates in a competitive landscape alongside companies such as Braze, Iterable, Amplitude, Airship, CleverTap, MoEngage, Appcues, UserIQ, OneSignal, and Mixpanel. While these competitors offer various marketing automation and customer engagement solutions, Veact's specialization in the automotive industry and its proprietary DataHub provide a competitive edge by offering tailored solutions that address the unique needs of automotive businesses.

Strategic Collaborations and Partnerships

Veact has established significant partnerships to enhance its platform's capabilities and market reach. Notable collaborations include:

CitNow: An app-based platform covering every stage of the customer journey, providing transparent and simple car buying and ownership experiences.

CARDESS: Offers lead management solutions, including identifying sales and service opportunities and creating targeted marketing campaigns from customer data.

SmartLoyalty: Provides efficient and individualized customer loyalty systems and innovative marketing ideas to increase client retention and acquisition.

These partnerships enrich Veact's platform, offering comprehensive solutions that address various aspects of automotive marketing and sales.

Operational Insights

Veact's strategic considerations involve leveraging its proprietary DataHub and partnerships to maintain a competitive advantage in the automotive marketing sector. By focusing on data-driven solutions tailored to the automotive industry, Veact differentiates itself from competitors offering more generalized marketing automation tools. The company's commitment to innovation and customer-centric solutions positions it favorably in the market.

Strategic Opportunities and Future Directions

Veact aims to expand its market position by continuously enhancing its product offerings and technological capabilities. The company plans to further develop its DataHub platform, integrate additional partner applications, and explore new markets within Europe. By focusing on the digital transformation of automotive marketing and sales processes, Veact is well-positioned to capitalize on emerging opportunities and drive future growth.