CoPilot
 | |
| Privately held company | |
| ISIN | 🆔 |
| Industry | Information Technology Services |
| Founded 📆 | 2015 in Chicago, Illinois |
| Founders 👔 | Pat Ryan |
| Headquarters 🏙️ | Chicago, Illinois |
Area served 🗺️ | |
Key people | Pat Ryan [1] |
| Products 📟 | Used car pricing research |
| Members | |
Number of employees | 0 - 50 [2] |
| 🌐 Website | www.copilotsearch.com |
| 📇 Address | |
| 📞 telephone | |
CoPilot is an online consumer research resource and marketplace for new and used automobiles for American and Canadian consumers.
History[edit]
CoPilot was founded in 2015 by serial social and digital entrepreneur, Pat Ryan. CoPilot was a company formed as part of the work out of startup incubator INCISENT Labs Group.[3]
Services[edit]
CoPilot website and app include up-to-date prices for new and used vehicles. CoPilot includes a collection of tools and reports that consumers can use to make informed decisions before buying or selling a vehicle.
Price Pulse[edit]
CoPilot's Price Pulse claims to track of automotive price changes at every dealer. CoPilot maintains that Price Pulse calculates the difference between an individual car compared to normal market conditions based on nation-wide price trends.[4] The Price Pulse feature is designed to notify consumers about changes in prices over time.
Normal Index Report[edit]
CoPilot publishes a monthly index report on automotive pricing trends.[5] The report includes price premium by vehicle age, vehicle type, fuel type, and brand. The report also includes analysis of overall market trends and has been referenced by media outlets.[6]
Market Value Calculator[edit]
Copilot makes a calculator publicly available that claims to provide real-time market value of a car or truck.[7]
CoPilot in the News[edit]
CoPilot's car buying app claims to have a real-time price feed for used car and truck dealerships in the United States. CoPilot has been cited on consumer auto demand stories by NPR[8], CNBC[9], CNN[10], Newsweek[11], and Automotive News[12]
Capital Investments[edit]
According to Crunchbase CoPilot has secured $22 million (USD) through debt and equity fundraising over 5 rounds.[13]
Series A funding[edit]
In its 2020 Series A round of venture funding, CoPilot raised $10 million. Next Coast Ventures was the lead investor with investments from SciFi VC, Chicago Ventures, and Arthur Patterson.[14]
Seed funding[edit]
In 2019 it received $4 million in Seed investments with Chicago Ventures leading the round.[15]
See also[edit]
References[edit]
- ↑ O'Brien, Sarah. "Demand for used cars drops from a year ago but high prices aren't budging". CNBC.
- ↑ "CoPilot Overview". LinkedIn.
- ↑ "Board of Directors > Pat Ryan". www.copilotsearch.com.
- ↑ "CoPilot Price Pulse". CoPilot. Retrieved August 23, 2022.
Be the first to know when car prices drop & when the right time to buy is with CoPilot’s Price Pulse.
- ↑ "CoPilot's Return to Normal Index - August 2, 2022 Report". Retrieved August 23, 2022.
- ↑ O'Brien, Sarah (July 21, 2022). "Consumers are shelling out an average $10,000 more for used cars than if prices were 'normal,' research shows". CNBC. Retrieved August 23, 2022.
Despite signs of a slowing economy, rising interest rates and high fuel prices, the used-car market is holding firm.
- ↑ "Hidden Profit Calculator". Retrieved August 23, 2022.
- ↑ Horsley, Scott (January 12, 2022). "Consumer prices are even higher as businesses try to keep up with people eager to buy". www.npr.org. NPR. Retrieved August 22, 2022.
There is a question of, how long will consumers pay new-car prices for 3-year-old cars? For most of 2021, people have been paying new-car prices for 2-, 3-, 4-year-old cars.
- ↑ O'Brien, Sarah (April 7, 2022). "Demand for used cars drops from a year ago but high prices aren't budging". www.cnbc.com. CNBC. Retrieved August 22, 2022.
Consumer prices were 7% higher in December than the year prior — the sharpest increase in nearly four decades. Many expect the Federal Reserve to raise interest rates to try to bring inflation down.
- ↑ Isidore, Chris (January 20, 2022). "Why car prices remain so stubbornly high". www.cnn.com. CNN. Retrieved August 22, 2022.
There is no longer the same upward pressure on prices. This market can get back to 10% above the pre-Covid pricing, but not all the way back.
- ↑ PERRY, TATIANIA (December 30, 2021). "Why car prices remain so stubbornly high". www.newsweek.com. Newsweek. Retrieved August 23, 2022.
- ↑ HUETTER, JOHN (November 24, 2021). "CoPilot: Lessees aware of vehicle market but still expect to upgrade". www.autonews.com. Automotive News. Retrieved August 23, 2022.
- ↑ [citation needed]
- ↑ [citation needed]
- ↑ [citation needed]
External links[edit]
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