Digital tech companies are driving change in the automotive retail sector and CitNOW is one of the leading players.
CitNOW has been listed in the Sunday Times Hiscox Tech Track 100 for the third year running.
The Tech Track 100 lists the nation’s fastest growing tech companies using three-year growth patterns to measure sustained growth. CitNOW is among other tech companies who are making an impact on the sector digitising the customer experience to deliver higher levels of customer service and meet consumer expectations.
Alistair Horsburgh, CEO of CitNOW, commented: “To be listed in the Tech Track 100 for the third year in a row demonstrates just how crucial video has become to the automotive retail industry – it is no longer a disruptor but a lynchpin for hundreds of businesses across Britain’s automotive industry and beyond.
“In the age of the digital sale, building trust, transparency and a truly personal buying experience can transform a business. Video has become essential to delivering that in the automotive retail industry, and its importance will only continue to grow.”
Published every September, this year’s elite includes other tech companies alongside CitNOW, ranked 95th, which operate in the sector showing how tech is driving innovation for retailers.
The Tech Track 100 provides a huge boost for the perception of companies featured and reinforces their credibility as market leaders making it incredibly important to be recognised in this way, especially for three consecutive years.
The Tech Track 100’s success stories include the likes of Just Eat which was listed in 2006, floated in 2010 and is now worth £4.2bn and Zoopla which appeared in 2011, floated in 2014 and bought for £2.2bn earlier this year.
Last year saw CitNOW, which started 10 years ago with one customer, BMW, but now over 93 of the AM100 and 43 car manufacturers use its video apps in 50 countries worldwide, increased sales by 41%. In September, our platform was on track to host more than a million videos, the first time we have reached such a figure in a single month, which demonstrates the power and prominence of video.