Momenta Partners announced investment in RevTwo, an exciting startup revolutionizing support for connected products. RevTwo was founded by Dale Calder and Jim Hansen, founders of Axeda and pioneers in the Industrial Internet of Things (IIoT) platform market. Axeda was acquired by PTC for $170 million in 2014.
RevTwo is a disruptive entrant in the market for Customer Services Applications and Clientless Remote support, forecasted to grow at an 11% CAGR to over $10.1 billion by 2020. The company’s data-first approach builds upon deep domain expertise in industrial product connectivity and leverages powerful AI technologies to deliver optimal channel support for applications, microservices, consumer and industrial products.
Ken Forster, Managing Director of Momenta notes: “Today’s help desks cannot scale to meet the demand of smart products. RevTwo has leveraged years of IIoT expertise to advance smart product support for consumer and industrial users to a place not previously possible. We are thrilled to be a part of their story.”
Despite a massive wave of products with built-in connectivity, the way products are supported has barely changed in over 25 years. RevTwo’s revolutionary technology combines AI and machine data to solve customer problems with unprecedented speed and accuracy, virtually eliminating the need for tier 1 and 2 support agents. High performance chat, video and multimedia capabilities empower live agents to interact more intelligently with customers, perform remote health checks, return repair scripts and rapidly resolve complex product issues, providing an optimized support experience.
“At RevTwo, we are on a mission to deliver next generation technology that will delight customers by putting them back at the center of the support experience,” said Dale Calder, founder and CEO, RevTwo. “The team at Momenta understands this vision due to their extensive expertise in the connected product market and we could not be more pleased to partner with them as we deliver on this mission.”
See our Full Press Release.
About RevTwo
RevTwo is disrupting support for product companies and their customers. Our data-first approach combines AI and machine data to solve customer problems with unprecedented speed and accuracy, virtually eliminating the need for tier 1 and 2 support agents while providing an optimized support experience for today’s smart product customers. RevTwo works with products of all shapes and sizes including mobile apps, intelligent machines, devices, microservices, and consumer products. Learn more at www.revtwo.com.
__________
Momenta Partners encompasses leading Strategic Advisory, Talent, and Investment practices. We’re the guiding hand behind leading industrials’ IoT strategies with over 100 IoT leadership placements and 17+ young IoT disruptors. Momenta Ventures doesn’t just finance companies; we help founders achieve lean, smart and sustained growth driving to an orchestrated and valuable exit.
Schedule a call to learn more about our Digital Industry Venture practice.
