FOSTER CITY, Calif. — Reviver Auto, creator of the digital license plate, has closed an $11.1 million funding round led by Australian-based ACK Group, with participation from WRV and a number of strategic individual investors.
The rapidly growing company, which recently relocated from San Francisco to an approximately 11,000-square-foot facility in Foster City, Calif, also announced two additions to its board of directors: Ken Denman, former CEO of Emotient, which was acquired by Apple; and Stephen Polk, CEO of Highgate LLC and former Chairman of R.L. Polk and Carfax.
Reviver Auto's RPlate Pro, which will officially launch at the Detroit Auto Show next week, transforms the 125-year-old stamped metal vehicle license plate into a modern, aesthetically-designed, multi-functional digital display and connected car platform that will deliver multiple efficiencies to businesses, state agencies and consumers, including a first-ever digitally-automated vehicle registration platform.
The investment further accelerates the development of the Reviver Auto platform and its patented technology, including RConnect, the platform that manages the RPlate's functionality. It also fuels the company's work with state departments of motor vehicles (DMV) and legislatures as the RPlate expands its national footprint.
In addition to California and Arizona, legislation authorizing pilot programs for the RPlate has been passed in Texas and Florida.
"We are on a mission to change the future of automotive ownership and everyday driving by transforming communications between vehicle owners, drivers and the world around them," said Reviver CEO Neville Boston. "This investment helps accelerate the fulfillment of that mission, further boosting the development of strategic partnerships that will broaden the RPlate's range of functionalities — all designed to make life easier for businesses and consumers."
State DOTs, DMVs, OEMs, fleet management companies and auto dealers, among others, are looking to the RPlate for a myriad of solutions, including streamlined vehicle registration, new opportunities for personalized license plate designs, targeted marketing messaging, emergency alert broadcasting, vehicle tracking, and, as electric vehicles popularity takes hold, a unique solution to the growing road usage tax tracking issues faced by states.
"The RPlate has the potential to change the way we think of vehicle ownership — starting first with digital vehicle registration— which is a tremendously inefficient process," said Stephen Polk, Reviver Auto board member. "The capabilities of the RPlate are unlimited — think automated parking and toll payments, digital parking permits, personalized messaging, and, of course, vehicle specific data and driving behavior analytics for commercial businesses that can be utilized to track vehicles, mileage, etc."
Originally posted on F&I and Showroom