From a VC perspective, companies like Revv are the dream. A technical team building in a fast growing (but hidden) market, with a product uniquely enabled by newly invented tech. And most importantly, a product that generates substantial revenue for customers 💰 💰 💰
So what does Revv do? First, some background. Modern vehicles are full of sensors which power features like reverse parking and blind spot detection. When vehicles are involved in a collision, these sensors need to be recalibrated. Sensor calibration involves reading the fine print in vehicle documentation and varies for every make, model and year - there are actually over 500,000 calibration permutations that exist today! The end result is that technicians simply don't perform these calibrations because it's too much work 🚗 🚗 🚗
Revv's software uses LLMs to surface the appropriate calibrations to technicians, resulting in an incremental $1200 revenue per job. 🤑
Around 50% of vehicles on the road today have sensors and this number will approach 100% in the coming years. Revv is poised to ride this tailwind and we at 1984 Ventures are delighted to have led their seed round.
Adi Rashmi Tucker Ramy Aaron Farzad Mark