Glenn Harwood is an experienced tech startup founder with a demonstrated history of working in the automotive industry. As a global executive, he is skilled in strategy, business planning, management, business development, and automotive. Currently, he is a key leader at AlgoDriven, where he leverages his expertise to drive innovative solutions in the automotive sector.
Glenn Harwood recalls his previous job, where car valuation inconsistencies were rampant. This frustrating experience inspired him to create a solution. He developed a tool for dealers to accurately value used cars. His goal was to replace subjective opinions with data and statistics. This transition aimed to make the appraisal process more informed and reliable.
Glenn's desire to solve his own problem led him to start a company. However, the early months were fraught with challenges. Nonetheless, venture capital investment provided significant momentum and confidence. Such investments also set necessary milestones for the company to achieve. Having clear goals kept the team motivated and accountable. This focus ultimately led to acquiring their first 10 customers.
His love for his work is evident. He enjoys interacting with customers and witnessing technological advancements in the automotive space. Both he and Kaylee Felio, find these changes exciting. The automotive industry has seen significant changes in the last five to six years.
Dealerships selling high volumes can afford more risk. However, small dealerships need every sale to be accurate. Selling a high volume allows for mistakes to average out. In contrast, selling fewer cars makes every appraisal crucial. Glenn emphasizes that the recon process mainly involves cosmetic issues like scuffed rims and chipped windscreens.
Glenn notes many disconnects between sales, parts, and service departments during recon. These disconnects often lead to confusion over who pays for what. Speed in the recon process is crucial because every day a car sits leads to depreciation. Hence, this impacts overall profitability for dealerships.
Supportive investors, such as Steve Greenfield from Automotive Ventures, have been pivotal. They contributed knowledge and guidance to the business. This support has been fundamental in navigating the complexities of scaling up.
Glenn Harwood co-founded Algo Driven based on his experiences with Mercedes and BMW in Australia and the Middle East. He faced many challenges in selling and buying used cars, prompting him to find a solution. Currently, Glenn is based in Brisbane, Australia but lives in Dubai. Algo Driven specializes in appraisal tools for car dealerships and boasts clients in 14 countries.
Algo Driven aims to simplify and accelerate the appraisal process. Their tool enables remote appraisals, ensuring accuracy in reconditioning and vehicle identification. Additionally, it allows consumers to value their cars online. Dealers receive analytics for accurate pricing, enhancing confidence in appraising unfamiliar cars.
Glenn emphasizes the importance of gathering ideas from different car dealers. Implementing these ideas in their product drives industry innovation. The company strives to be in more markets and consistently develop forward-thinking solutions.
Kaylee asks Glenn how they handle rejection. He explains that "no" often means "not right now." Consequently, they focus on building lasting relationships with car dealerships. Persistence has turned past "no's" into eventual "yeses.” Being in business for a while validates their approach.
The team is excited about their upcoming U.S. launch. They are searching for pilot dealers and inviting interested parties to reach out. A follow-up is planned in six months to discuss their journey.
Dealerships are now excited about used cars due to fixed pricing in new cars. Glenn discusses several AI and machine learning applications in dealerships. AI chatbots and car scanners assist customer interactions and inspections. Additionally, AI technology transcribes images and handles reconditioning. This provides comprehensive car information for online buyers.
Algo Driven uses AI to analyze dealership historical data, market trends, and unique vehicle features. Their AI system considers factory options and VIN-specific details for accurate valuations. Conferences like NADA and Used Car Week provide market insights for a solid U.S. go-to-market strategy.
Glenn Harwood's journey highlights the importance of innovation, data, and resilience in the automotive industry. His dedication to solving valuation inconsistencies has made Algo Driven a game-changer. With relentless persistence and technological advancements, the future looks promising for both dealers and consumers.
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“We’re making the appraisal process faster, easier, and more accurate.” -Glenn Harwood
Glenn Harwood
LinkedIn: www.linkedin.com/in/glennharwood
Website: www.algodriven.xyz
Kaylee Felio
LinkedIn: www.linkedin.com/in/gotopartsgirl
Website: www.partsed