Reviver Auto, creator of the “RPlate” digital license plate, announced Wednesday that it has closed an $11.1 million funding round led by Australian-based ACK Group and made two additions to its board of directors, including Stephen Polk, former chairman of R.L. Polk and Carfax.
The new funding, which includes participation from WRV and several strategic individual investors, will help drive further development of the Reviver Auto platform and its patented technology, such as RConnect, the platform that manages the RPlate's functionality, according to the company.
“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,” Reviver Auto chief executive officer Neville Boston said in a news release.“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.”
As the RPlate expands its national footprint, Reviver Auto said the funding will also help the company continue to work with state DMVs and legislatures.
Currently, legislation allowing pilot programs for the RPlate has been passed in California, Arizona, Texas and Florida.
“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,” added Polk. “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.”
Additionally, Reviver Auto’s new funding follows the growing company’s recent move from San Francisco to Foster City, Calif., into an approximately 11,000 square foot facility.
Reviver Auto's RPlate Pro officially launches at the Detroit Auto Show next week. The company will be at booth #MS06.