Tarek Kabrit, CEO and co-founder of Seez.
PC: Zawya
Seez is a Dubai-based pioneering company in AI-driven automotive solutions which was acquired by Pinewood Technologies Group PLC (Pinewood.AI) for an equity value of $46.2 million. The deal consists of a cash and stock mixture, in which the stock portion is expected to double over three years.
Founded in 2016 by Tarek and Andrew Kabrit, Seez was the first to deploy a smart app capable of determining a car from a single image, much like “Shazam for cars.” This disruptive concept quickly gained nearly three million users. Seez has shifted successfully from a popularly downloaded app to the most brilliant company influenced by AI, now serving 16 markets around the globe, from Mexico to Australia.
Seez’s maintainable SaaS model powered by AI and machine learning offers products like AI virtual assistant omnichannel modules and AI-driven digital marketing services. It serves a growing list of Tier 1 clients such as leading automotive dealer groups, original equipment manufacturers and online classifieds. Recent partnerships with premium providing companies delivering finance, insurance and SaaS only consolidate its working position. From $0.84 million of ARR in December 2022, Seez raised to $4.4 million or by about five times, which intends to further triple by December 2025.
With the purchase of Pinewood.AI sees the role of uniting advanced capability with a believe-in customer base and a financial bedrock so well-timed with the growing prominence of AI in automotive retail. It is expected that Seez’s customer portfolio, comprising more than 1300 rooftops for dealers, together with a stable, high-margin recurring revenue model, will add instant excitement to Pinewood.AI. Lithia Motors Inc., Pinewood’s parent company and the world’s largest dealer group, advocates this acquisition with plans to purpose Seez’s AI Virtual Assistant, Seezar, for its global dealership network.
“We’re extremely excited to partner with Pinewood at such a pivotal point in the automotive industry. By fusing our machine-learning and AI-enabled tools with those of Pinewood’s proprietary data and deep dealer integration, we are creating a next-generation platform that will allow dealerships to operate with smarter and more nimble tools for growth,” Tarek Kabrit excitedly expressed as he explained the joining of forces. He stressed that the acquisition speeds up Pinewood’s growth in the North American market and allows both companies to redefine dealer-technology interaction, simplify processes, and enhance customer experiences. “The future of automotive retail is intelligent, autonomous, and data-driven, and we couldn’t have hoped for a better partner than Seez to make that future a reality,” he elaborated further.
Pinewood.AI’s CEO, Bill Burman, described the strategic significance of the acquisition by laying the foundation for the ongoing work since Pinewood.AI first invested in Seez in September 2024. “Seez is a lovely company that creates highly sophisticated AI and machine learning products that are becoming absolutely necessary tools for the automotive retail market, and they so nicely supplement our own Automotive Intelligence Platform,” he said.
This proposed acquisition sees Seez and Pinewood.AI as pioneers in the automotive industry, contributing to leading the provision of smarter, more efficient industry solutions that help customers unlock value, drive performance, and enhance profitability. They envisage an AI-powered, safe, end-to-end, fully cloud-based ecosystem crafted by car lovers, for car lovers.
