Thirteen years after its founding, Jerusalem-based auto-tech company Fullpath has agreed to be acquired by U.S. automotive technology giant Cox Automotive. The two companies have signed a sale agreement that is pending regulatory approval before becoming final.
The value of the exit was not disclosed, but is estimated at around $500 million or more. Under the new ownership, the Israeli company will retain its independent brand, all executives will remain in their roles and its research and development center in Israel will continue operating.
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Co-founders of Fullpath, from right: Yishai Goldstein, Aharon Horwitz, Eliav Moshe
(Photo: Courtesy of Fullpath)
“I can tell you we’re growing at an incredible pace — 50% a year — and we’ll finish the year with $100 million in annual recurring revenue,” CEO and co-founder Aharon Horwitz told ynet. “This is a good deal for the State of Israel. We’re not talking about areas like cybersecurity, where Israel is typically known, but about a major company in the automotive industry that works with 40,000 dealerships worldwide and with nearly every car manufacturer. Suddenly, a company that grew from nothing in Jerusalem will gain access to those customers around the world.”
Fullpath has developed a customer data platform and AI-driven marketing automation tools for car dealerships. The acquisition reflects the accelerating shift in the automotive industry toward AI-based management, large-scale data and advanced infrastructure. Horwitz previously said the company was close to operational break-even but sought additional capital to accelerate growth — a process that can sometimes lead companies to pursue a sale when raising a significant funding round proves challenging.
Asked why the company chose to sell while still growing, Horwitz said: “I went out to raise capital about six months ago, and it became clear there was an even bigger opportunity than a funding round. Everything came together. Once the deal clears U.S. regulatory approval, we’ll have access to the broadest layers of data in this industry.”
On whether the company considered remaining independent and pursuing an initial public offering, he added: “As an entrepreneur and CEO, you’re constantly making decisions — big and small. This is obviously a very big one. But my partners, Yishai and Eliav, and I have always wanted to make a major impact on the entire industry. We currently have 2,100 customers. After the acquisition, I’ll have the data I need to significantly improve the product — and access to 40,000 customers, nearly every dealership in the world. How could I pass up that opportunity to advance our mission so quickly?”
Raised $57 million in multiple rounds
Founded in 2013 by Horwitz, Chief of Product Eliav Moshe and Chief of Technology Yishai Goldstein, Fullpath operates offices in Jerusalem and Tel Aviv and employs 258 people, about 60% of them in Israel. The company’s platform aggregates data collected across enterprise systems over many years to create a unified and precise customer profile, effectively serving as an AI-based “operational brain” for car dealerships and enabling large-scale, personalized marketing automation. It operates in the U.S. automotive market, estimated at $2 trillion, and works with dealerships for brands including Porsche, Jaguar, Land Rover, Mazda and General Motors.
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Cox Automotive parking lot: Access to 40,000 car dealership
(Photo: Keith Srakocic / AP)
Fullpath previously acquired Israeli-American company Fuse Autotech, gaining its core technology and key personnel in a deal valued at several million dollars.
Cox Automotive is part of Cox Enterprises, a family-owned conglomerate founded 128 years ago and ranked by Forbes as the 10th-largest private company in the United States. The group generates more than $23 billion in annual revenue and employs over 60,000 people worldwide. Cox Automotive is the world’s largest provider of services and technology for the automotive industry, serving dealerships, manufacturers, fleet operators and consumers.
To date, Fullpath has raised $57 million across four funding rounds from investors including Riverwood Capital, Target Global, PICO Venture Partners and Aleph. Its most recent round, totaling $40 million, took place about four years ago.
“When we first invested in Fullpath, our goal was to fundamentally change how the automotive industry uses AI and data-driven automation," said Elie Wurtman, managing partner at venture capital firm PICO and chairman of Fullpath. "Cox Automotive’s acquisition is a clear validation that our strategy was right. It reflects the team’s exceptional execution and signals that the future of marketing in the automotive sector is AI-first.”
Steve Rowley, president of Cox Automotive, said: “Dealerships today are facing the most competitive and technology-driven environment in the history of this industry. This transaction significantly accelerates our data and AI capabilities and brings the most advanced technology to our clients within the leading retail platform in our sector.”
First published: 21:53, 04.23.26