Vivid Theory
Vivid Theory is a Calgary-based private product development studio that builds and commercializes software products using a proprietary Rapid Feasibility Model. Its operating assets are HeyAuto, a three-product automotive SaaS and marketplace serving 2,000+ dealerships, and BigGeo, a PaaS subsidiary with proprietary geospatial DGGS technology.
- Company typePrivate
- Founded2019
- HeadquartersCalgary, Canada
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Vivid Theory does
Vivid Theory is a Calgary-based private product development studio founded in 2019 by Brent Lane and Brett Jones. The company operates a studio model that uses a proprietary Rapid Feasibility Model (RFM) to identify, prototype, and commercialize software products, with separately held product companies and key employee stock options designed to give staff startup-style upside. Its two principal operating assets are HeyAuto, an automotive software platform, and BigGeo, a geospatial technology subsidiary.
HeyAuto is a three-product automotive platform: a retail automotive marketplace with 2,000+ dealerships, a consumer-facing SaaS car ownership product called Glovebox, and a dealer-facing SaaS marketing and retention platform. The product leverages Fintech, Artificial Intelligence, and Big Data, though specific proprietary AI assets are not disclosed. BigGeo is a wholly-owned subsidiary that owns a proprietary Discrete Global Grid System (DGGS) and associated IP, distributed via a Platform as a Service (PaaS) model to address big data and geospatial workloads.
Vivid Theory's business model centers on recurring SaaS subscription revenue from HeyAuto, PaaS licensing from BigGeo, and a longer-term liquidity-event pathway on individually held product companies for investors. The company has raised approximately $7.66M across five funding rounds between 2019 and 2024, employs 51-100 staff, and is recognized as a Forbes Canada Best Startup Employer (2024) with subsidiary BigGeo having rang the NYSE closing bell in October 2024.
Vivid Theory firmographics
Firmographics- Name
- Vivid Theory
- Legal name
- Vivid Theory
- Website
- https://vividtheory.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Vivid Theory is a Calgary-based private product development studio that builds and commercializes software products using a proprietary Rapid Feasibility Model. Its operating assets are HeyAuto, a three-product automotive SaaS and marketplace serving 2,000+ dealerships, and BigGeo, a PaaS subsidiary with proprietary geospatial DGGS technology.
- Ownership category
- akta.pro rank
Vivid Theory industry classification
Industry- Product category
- Product Development Studio Software
- NAICS
- Software Publishers (5132), Computer Systems Design Services (541512)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Creative Concepting & Campaign Development (BPAFAEAD)
- akta.pro secondary industry
- Product & Innovation Research (Concept, Pricing, Packaging, Conjoint) (MPAAALAI)
Keywords
Where Vivid Theory is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Vivid Theory business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS Marketplace Revenue: HeyAuto operates as a retail automotive marketplace (2000+ dealerships) and provides SaaS platforms (Glovebox consumer platform and dealer-facing marketing/retention platform). Revenue generated through SaaS subscriptions and marketplace transaction fees.
- PaaS Licensing: BigGeo is distributed using a Platform as a Service model to maximize customer reach. PaaS is the desired solution for highly specialized products when the user wants to offload the responsibility for managing and updating the core technologies.
- Product Liquidity Events: Studio model achieves returns through liquidity events on SaaS products. When a product (separately held company by Vivid Theory Investors) is packaged and fully exited, stakeholders are rewarded.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels6 records
Vivid Theory product offering
Product offeringCore offering
Vivid Theory is a product development studio that prototypes, evaluates, and commercializes SaaS and PaaS products. Its current commercial offerings are HeyAuto, an automotive software product comprising a retail automotive marketplace (2,000+ dealerships), a consumer SaaS car ownership platform called Glovebox, and a dealer-facing SaaS marketing and retention platform; and BigGeo, a subsidiary offering a proprietary Discrete Global Grid System (DGGS) and associated IP distributed as a Platform as a Service. Product selection is driven by the company's proprietary Rapid Feasibility Model (RFM).
Product overview
Vivid Theory is a product development studio specializing in marketplace technology, two-sided SaaS, and PaaS products. The company operates two main product lines: HeyAuto, an automotive software product combining a retail marketplace (2000+ dealerships), a car ownership platform (Glovebox), and a dealer-facing marketing/retention SaaS; and BigGeo, a subsidiary offering a proprietary Discrete Global Grid System (DGGS) as a Platform as a Service. The company uses a proprietary Rapid Feasibility Model (RFM) to identify and develop products for commercialization and sale.
Differentiator
Problem solved
Functional benefit
Brands
- HeyAuto: Automotive software product providing modern solutions to the digital automotive space. Leverages Fintech, Artificial Intelligence, and Big Data. Includes a Retail Automotive Marketplace with 2000+ dealerships, a Retail SaaS car ownership platform (Glovebox), and a dealer-facing SaaS marketing and retention platform.
- BigGeo
- Glovebox
Quantifiable outcome
- 2000+ dealerships using HeyAuto marketplace platform
- +2 more outcomes
Companies that use Vivid Theory
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles3 records
Vivid Theory technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Vivid Theory partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- University of Calgary / Dr. Faramarz SamavaticoreMitacs, a national not-for-profit that fosters innovation and economic growth, awarded the largest funding grant ever received at the University of Calgary Faculty of Science to Dr. Faramarz Samavati in support of research in partnership with BigGeo. This historic Mitacs funding represents a significant research partnership between BigGeo and the University of Calgary for DGGS technology research.
- MitacscoreMitacs is a national not-for-profit organization that fosters innovation and economic growth. They awarded the largest funding grant ever received at the University of Calgary Faculty of Science to Dr. Faramarz Samavati in support of research in partnership with BigGeo.
- BigGeocoreBigGeo is a subsidiary of Vivid Theory. BigGeo owns a proprietary Discrete Global Grid System (DGGS) and all associated IP. BigGeo rings the closing bell on the NYSE in October 2024, demonstrating significant milestone achievement.
- HeyAutocoreHeyAuto is the primary go-to-market SaaS offering of Vivid Theory. It is an automotive software product providing modern solutions to the ever-evolving digital automotive space, including a retail automotive marketplace (2000+ dealerships), consumer SaaS platform (Glovebox), and dealer-facing SaaS platform.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Vivid Theory competitors and assessment
Company assessmentEmerging players
- DealerOn: Provider of automotive dealer websites, digital marketing, and SEO/SEM services. Comparable to HeyAuto's dealer-facing marketing and retention platform offering.
- Roadster: Digital automotive retail platform offering Express Storefront, desking, and checkout tools for dealers. Comparable in scope to the consumer-facing Glovebox and dealer digital retail components of HeyAuto.
Direct peers
- Esri: Global leader in GIS and geospatial analytics software (ArcGIS platform). Most direct incumbent competitor to BigGeo's DGGS-based geospatial PaaS for enterprise and government buyers.
- CarGurus: Online automotive marketplace connecting car buyers with dealers, with growing dealer SaaS and digital retail capabilities. Closely comparable to HeyAuto's two-sided marketplace model and consumer-facing car shopping experience.
- TrueCar: Digital automotive marketplace that connects consumers with a network of certified dealers, with dealer software and pricing tools. Directly comparable to HeyAuto's marketplace-plus-dealer-tools positioning in automotive retail.
- DealerSocket (now PBS Systems): Dealer management system (DMS) and CRM SaaS platform for automotive dealerships. Direct competitor to HeyAuto's dealer-facing marketing and retention SaaS.
- VinSolutions: Dealer CRM, desking, and digital retail SaaS platform (Cox Automotive subsidiary). Closely comparable to HeyAuto's dealer-facing SaaS layer in functionality and target customer.
- Cars.com: Automotive marketplace and dealer digital solutions platform, including Dealer Inspire website/CRM and Accu-Trade appraisal tools. Comparable two-sided marketplace + dealer SaaS structure to HeyAuto's three-fold product.
- Hexagon Geospatial: Provider of geospatial software (ERDAS Imagine, GeoMedia, Luciad) for imagery, terrain, and location intelligence. Comparable enterprise geospatial platform competing for the same BigGeo PaaS customer workloads.
Broad incumbents
- Cox Automotive: Largest North American automotive marketplace and dealer technology provider (Dealertrack, Autotrader, KBB, VinSolutions). Direct competitor to HeyAuto's marketplace and dealer SaaS stack, with broader portfolio reach and incumbent dealer relationships.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Vivid Theory social profiles
Digital presenceVivid Theory financial estimates
Financial estimateRevenue estimate
Valuation estimate
Vivid Theory leadership team
Management profileNumber of profiles
Profiles5 records
Vivid Theory subsidiaries and ownership
Company hierarchySubsidiaries1 record
Vivid Theory funding detail
Funding detailFunding overview
Funding rounds5 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Vivid Theory M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Vivid Theory
What does Vivid Theory do?
Vivid Theory is a product development studio that prototypes, evaluates, and commercializes SaaS and PaaS products. Its current commercial offerings are HeyAuto, an automotive software product comprising a retail automotive marketplace (2,000+ dealerships), a consumer SaaS car ownership platform called Glovebox, and a dealer-facing SaaS marketing and retention platform; and BigGeo, a subsidiary offering a proprietary Discrete Global Grid System (DGGS) and associated IP distributed as a Platform as a Service. Product selection is driven by the company's proprietary Rapid Feasibility Model (RFM).
Is Vivid Theory a public or private company?
Vivid Theory is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Vivid Theory founded?
Vivid Theory was founded in 2019. It employs 51 to 100 people.
Where is Vivid Theory based?
Vivid Theory is headquartered in Calgary, Canada, in the North America region.
How does Vivid Theory make money?
Three revenue lines are on record. SaaS Marketplace Revenue is the primary driver. The others are paaS Licensing and product Liquidity Events.
Who are Vivid Theory's main competitors?
Emerging players on record are DealerOn and Roadster. Direct peers are Esri, CarGurus, TrueCar, DealerSocket (now PBS Systems), VinSolutions, Cars.com and Hexagon Geospatial. Cox Automotive is listed as a broad incumbent.
Does Vivid Theory have an API?
No public API is recorded for Vivid Theory.
What industry is Vivid Theory in?
Vivid Theory's product category is Product Development Studio Software. Its primary akta.pro industry code is BPAFAEAD, Creative Concepting & Campaign Development, with a secondary code of MPAAALAI, Product & Innovation Research (Concept, Pricing, Packaging, Conjoint). Its NAICS code is 5132 and its SIC code is 7372.