Toma’s AI voice agents have taken off at car dealerships – and attracted funding from a16z

In the spring of 2024, Monik Pamecha co-founded Toma, an AI voice technology startup, with a vision focused on banking and healthcare. However, an unexpected demand from car dealerships quickly shifted their trajectory. "They reached out to us, overwhelmed with phone calls," Pamecha recalled in a conversation with TechCrunch. Recognizing a unique opportunity in a less regulated market, Pamecha and co-founder Anthony Krivonos devised a plan to test their voice agent by calling car dealerships nationwide repeatedly. They discovered that only 45% of their calls were answered. Determined to gain deeper insights, the duo embarked on a tour of various dealerships in Oklahoma and Mississippi, immersing themselves in the dealership environment. Pamecha humorously noted the surprise on his wife's face when he returned home with grease stains on his clothes. This hands-on experience yielded invaluable connections; they were welcomed into homes for meals, toured the Corvette Museum, and even joined a dealer at a shooting range. Seema Amble from a16z, who led Toma's $17 million funding round, praised the founders for their dedication. "They truly lived among these dealers, attending family gatherings and understanding their operations," she commented. This deep engagement allowed Toma to refine its voice agent, which is now assisting over 100 dealerships across the country, managing service appointments, parts orders, and sales inquiries. With backing not only from a16z but also from Y Combinator, Scale Angels, and auto expert Yossi Levi, Toma is poised to make a significant impact in the auto industry. Levi highlighted the challenges dealerships face with unpredictable call volumes, which complicate staffing and training. He believes AI offers a pathway to standardize processes and enhance customer experiences. To tailor their AI solutions, Toma incorporates a training phase where it learns from a dealership's customer interactions for one to two weeks. This process ensures the AI is well-versed in the specific needs of each dealership, addressing nuances like the types of vehicles serviced and promotional offers. Once trained, the AI begins handling calls, seamlessly transferring to human staff when necessary, with those interactions analyzed to improve performance further. Operating on a subscription model, Toma's services expand as their AI takes on more dealership tasks. Pamecha expressed optimism about the timing of their Series A funding, noting that they had only recently brought on their first dedicated sales employee, relying heavily on their initial hustle. Reflecting on their experiences, Pamecha remarked, "It has been one of the best experiences of my life. We've built friendships through shared challenges, and I believe they recognize our commitment to alleviating their struggles."