Long Beach, CA – March 25th, 2022 – myKaarma today announced a major investment partnership with H.I.G. Growth Partners (“H.I.G.”). Founded in 2012, myKaarma is a rapidly growing provider of innovative end-to-end solutions for franchise automotive dealerships and has expanded to over 1,500 dealerships in the United States and Canada.
Founder and CEO, Ujj Nath, said, “We are beyond excited about this partnership with H.I.G. as we continue to expand our reach and serve even more dealerships and vehicle owners with exceptional interactions. H.I.G. ‘s investment will provide the necessary resources to grow myKaarma’s offerings.”
Evan Karp, a Managing Director with H.I.G. commented, “myKaarma provides unmatched offerings and value to dealerships. Their users are passionate about the communications, video, scheduling, and other solutions that are used in service departments every day. We are excited to partner with myKaarma as they continue along a strong growth trajectory.”
As part of the arrangement, Evan Karp and Anish Sheth from H.I.G. will join myKaarma’s Board of Directors.
myKaarma believes a dealer should not have to “do work to do work.” Their sophisticated and natural design flow creates effortless, easy, and exceptional interactions. Built upon an industry-leading communication and payment platform, myKaarma delivers good karma for vehicle owners and dealers alike by making the service experience better for all. With over $11 Billion in payments processed, 230 million text messages transmitted, and over 2.5 million videos recorded, customers have realized a 30% lift in RO dollars when using the latest solutions. myKaarma is an advanced end-to-end platform with scheduling, communications, payment, pickup and delivery, video MPI, BDC solutions, and insightful reporting. For more information, please visit mykaarma.com.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $48 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships.
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