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About Toma
Industries
Automotive & Transportation
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series A
Total Funding
$17.6M
Headquarters
New York City, New York
Founded
2024
Overview
Toma provides AI-powered agents designed for automotive dealerships, packaged as a cloud-based SaaS platform. The AI agents act as a digital frontline, handling repetitive tasks such as scheduling appointments, answering customer inquiries, and managing leads, to improve efficiency and customer service. The product works by integrating with dealership workflows to automate front-door operations and routine interactions, freeing human staff to focus on more complex tasks. Toma differentiates itself by specializing in the automotive industry and offering a vertical SaaS solution tailored to dealership needs in the US, rather than a generic AI assistant. The company's goal is to become a key technology provider in the automotive sector, analogous to established software players in other industries, by scaling its AI workforce and software platform for dealerships.
Simplify's Take
What believers are saying
- AI agents automate 1M+ calls, book thousands of appointments since 2024 launch.
- $17M Series A from a16z and Y Combinator fuels expansion beyond 100 dealerships.
- Multilingual support in 10+ languages and 24/7 responses boost CSI scores.
What critics are saying
- CDK outages paralyze Toma, as in June 2024 ransomware attack lasting 6 days.
- Reynolds and CDK launch competing AI features within 6-12 months, eroding integrations.
- Call volumes decline 8-12% annually, shrinking market by 30-40% by 2027.
What makes Toma unique
- Toma IQ uses reinforcement learning from real calls with manager-approved policies.
- Agents customize to dealership workflows like diesel oil changes or EV charging.
- Deep integrations with Dealertrack, Reynolds, and CDK enable omni-channel engagement.
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Funding
Total Funding
$17.6M
Meets
Industry Average
Funded Over
3 Rounds
Andreessen Horowitz
Y CombinatorIndustry standards
Benefits
Meaningful equity
Free health, dental and vision insurance
Generous travel and expense policy
Monthly $200 wellness benefit
Free lunch and dinner in the office
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 15%2 year growth
↓ -3%Toma, an AI platform for car dealerships, has launched Toma IQ, a product that enables its AI agents to learn from real customer conversations. The system uses reinforcement learning to convert live call scenarios into manager-approved behaviour updates that immediately influence future interactions. Built on reinforcement learning with human feedback, Toma IQ reviews every dealership call, identifies successful outcomes and generates policy recommendations for manager approval. This allows dealerships to handle edge cases like after-hours transfers and unique store policies without manual retraining or vendor support tickets. Founded in 2024 by engineers from Scale AI, Uber, Lyft and Amazon, Toma is backed by Andreessen Horowitz and Y Combinator. The company claims its approach differs from competitors by learning at the dealership level rather than relying on generic foundational model updates.
Toma’s AI voice agent is currently utilized in over 100 car dealerships across the US.
Toma, a retail auto technology startup, has raised $17 million from investors, including Holman Automotive Group.
Toma, an AI voice startup co-founded by Monik Pamecha and Anthony Krivonos, shifted focus from banking and healthcare to car dealerships after dealers sought help with overwhelming phone calls. Testing revealed calls were answered only 45% of the time. The founders toured dealerships in Oklahoma and Mississippi, gaining insights and winning customers. Their efforts attracted funding from a16z, highlighting the success of their pivot to a less-regulated industry.
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About Toma
Industries
Automotive & Transportation
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series A
Total Funding
$17.6M
Headquarters
New York City, New York
Founded
2024
There are no jobs for Toma right now.
Find jobs on Simplify and start your career today