Investment will accelerate adoption of AutoReturn’s technology in the U.S., further expand international presence and provide capital for M&A
Nexa Equity LLC, a private equity firm focused on rapidly scaling lower middle market software and fintech businesses, announced that it has made a majority growth investment in AutoReturn, a leading provider of towing and parking enforcement SaaS software. AutoReturn’s management team and founders will continue to be meaningful shareholders of the business. Financial terms of the transaction were not disclosed.
AutoReturn is a trusted partner to both public and private customers helping keep roadways clear by connecting law enforcement, parking enforcement, towers and vehicle owners on a single software platform. AutoReturn processes more than half a million tows annually and has a 90% win rate among customers when compared to similar solutions in RFP selection processes. Today, 9 of the largest 20 U.S. cities – including San Francisco, San Diego, Philadelphia, San Antonio, Indianapolis, and Austin – use AutoReturn to automate their towing and streamline the way towers, dispatch centers, impound lots, and vehicle owners connect. The company recently expanded its presence internationally by winning contracts in Rome and Naples, Italy.
“AutoReturn is emblematic of Nexa Equity’s investment approach given the company’s undeniable impact on modernizing the towing and parking enforcement sector that was previously dominated by pen, paper and phone calls,” said Vlad Besprozvany, Founder and Managing Partner at Nexa Equity. “AutoReturn has grown rapidly as a result of its unique technology platform and strong customer loyalty. We are excited to have AutoReturn as our second platform investment.”
“The Nexa Equity team has a strong track record of scaling software companies, and we are excited to partner with them as we enter our next phase of growth,” said John Wicker, AutoReturn’s Founder. “AutoReturn’s vision is to make the towing and parking enforcement process easier for everyone involved. In partnership with the Nexa Equity team, AutoReturn will further execute on this vision while expanding into new product categories and propelling customer adoption domestically and internationally.”
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AutoReturn expects to use the growth capital from Nexa Equity’s investment to expand its go-to-market team and further build out its core platform, which handles towing dispatch, impound management, and car return processes for cities and communities across the globe. Nexa Equity will help AutoReturn evaluate and execute strategic acquisitions, and implement operational SaaS best practices.
“Our customers see us as a trusted technology partner that can help address challenges they encounter in their businesses,” said AutoReturn CEO Jerry Carnahan. “We are laser focused on providing public and private sector customers with the tools they need to efficiently manage towing and parking enforcement while reducing wait time and secondary accidents.”
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