Digital License Plate Company Receives $11M Investment
Photo courtesy of Reviver Auto.
Reviver Auto has closed an $11.1 million funding round for the development of its digital license plate, which is designed in part to help fleet management companies streamline vehicle registration and vehicle tracking.
Reviver Auto’s digital RPlate Pro avoids the traditional stamped metal vehicle license plate in favor of a multi-functional digital display and connected car platform, according to the company. The funding round was led by Australian-based ACK Group, with participation from WRV and a number of strategic individual investors.
The investment also accelerates the development of the Reviver Auto platform and its patented technology, including RConnect, the platform that manages the RPlate’s functionality, the company said. It also fuels the company’s work with state DMVs 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.
“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,” said Neville Boston, CEO of Reviver Auto.
In addition to FMCs, state DOTs, DMVs, OEMs and auto dealers may also consider utilizing the services for vehicle registration and vehicle tracking solutions, as well as targeted marketing messaging, emergency alert broadcasting, and, as electric vehicles popularity takes hold, a unique solution to the growing road usage tax tracking issues faced by states, the company said.
Reviver Auto also announced two additions to its board of directors including Ken Denman, former CEO of Emotient, which was acquired by Apple; and Stephen Polk, CEO of Highgate, LLC, current chairman of the Detroit Regional Chamber of Commerce, and former chairman of R.L. Polk and Carfax.