We’re proud to announce today that Spireon experienced substantial growth in both Automotive and Transportation sectors, achieving various corporate milestones in the first half of 2018. Product innovation, white-glove customer service and key industry partnerships contributed to increases in revenue, active subscriptions and customer service metrics.
Spireon’s Automotive and Connected Car markets gained significant growth, including:
- 73 new franchise dealer customers signed in 1H 2018
- 65% increase in Kahu device shipments for new car dealers
- 38% increase in revenue from franchise auto dealer segment
- 4% growth in device shipments for Buy Here Pay Here (BHPH) dealers
- 94% of BHPH dealers recommend GoldStar
The Asset Intelligence trailer segment experienced tremendous growth, including:
- 36% increase in revenues from trailer segment
- Over 200,000+ trailer telematics subscribers
- 45% increate in device shipments to SMB fleet market
Strong partnerships with leading brands and resellers extended the reach of Spireon’s Fleet solutions, including:
- 27% growth in device activations for OnStar-equipped GM vehicles compared to 2H 2017
- Ford Commercial Solutions partnership established in June allowing Ford vehicles access FleetLocate with no additional hardware
- 53% growth in fleet channel revenue from the largest reseller partner
- 73% increase in active subscriptions year over year
- 39% increase in device shipments through reseller channel compared to 1H 2017
“Results for the first half of 2018 show market demand remains extremely strong for our best-in-class connected vehicle solutions,” said Kevin Weiss, Spireon CEO. “Across the core markets we serve—auto dealerships, transportation companies and local fleets—a growing number of customers and partners are selecting Spireon based on the quality of our products and outstanding customer service. We have made significant investments to scale the business and those investments are paying off.”
With superior value and white-glove customer service, Spireon’s operations earned the following achievements:
- Spireon achieved a Net Promoter Score (NPS) of 71 compared to an industry average of 21.4 for B2B technology firms
- Increased NPS by 42% compared to a NPS score of 50 from 2H 2017
- Stevie® Awards for Sales & Customer Service – Silver Award for Customer Service Department of the Year in the 2018
- Compass Intelligence Awards – IoT Vehicle Telematics Company of the Year in 2018
- American Business Awards – Silver Award for Spireon’s NSpire version 3.0 IoT platform in the New Product of the Year category
“The Spireon team continues to raise the bar on achieving key business metrics—whether that is devices shipped, revenue, new customers or NPS scores—which is not an easy feat when looking at the company’s substantial transformation in recent years,” added Weiss. “Our unrivaled commitment to customer service, aggressive technology roadmaps and thriving partnerships have set us up for a strong finish to 2018.”
Spireon builds momentum into the 2H 2018 with the release of new product features and technologies that continue to innovate in the Automotive and Transportation space. Released late June, GoldStar’s Quick Locate feature provides dealers and lenders with instant visibility to vehicle location and status. Spireon also announced in early July the new FleetLocate Cargo Sensor with IntelliScan sensing technology, which provides fleets with better visibility into their cargo utilization without the limitations and inaccuracies of ultrasonic detection, the current industry standard in cargo sensors.
There’s more to come in 2H 2018, and with new partnerships and product announcements on the way, Spireon plans to incorporate more telematics data and accelerate growth in all areas of the business.
Read the entire Press Release here.