Honk Reports Revenue Growth

Honk Technologies, a digital roadside assistance and vehicle transport platform company, reported significant revenue growth in 2021 compared to pre-pandemic levels, fueled in part by the success of two new services: Vehicle Transport Services and FirstOnScene Accident Information Services.  

Q4 2021 was HONK’s sixth straight quarter of revenue growth since the industry-wide downturn at the beginning of the COVID-19 pandemic. HONK’s 90% annualized growth rate in Q4 drove record revenues in calendar 2021, with growth of nearly 70% over 2020.   

HONK’s fastest growing segment was a new product they launched: Vehicle Logistics. The technology provides automotive retailers with transparent, trackable, and one-click scheduling for same-day vehicle transports to address complex logistics challenges. This new product now accounts for one-third of the company’s annual revenue. 

Another product launched include FirstOnScene Accident Information Services. On average, it takes a customer 7-10 days after an accident to report a claim and provide photos of the damage to their insurance carrier. HONK can reduce cycle time by three to five days and save insurers $500 to $800 per claim. Using HONK’s FirstOnScene proprietary mobile technology, a HONK service provider can collect photos, video, and information detailing vehicle damage at the accident scene. These real-time data points and information are instantly available from the insurer’s client dashboard, other integrated third-party AI tools, and claims management software. This service is currently in the midst of rolling out with two of the 15 largest U.S. auto insurers.