Revv, a NYC-based provider of a B2B SaaS business improving the auto repair industry with AI, raised $20M in funding.
The round was led by Left Lane Capital, with participation from Soma Capital, 1984, and Agalé Ventures.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Adi Bathla, Revv provides a platform that leverages advanced large language models to condense hours of diagnostic research into seconds, aggregating data from over 60 sources to provide clear, actionable repair packages for complex ADAS systems like automatic braking, adaptive cruise control, and lane departure warnings. The hardware-agnostic system integrates with all shop equipment and the full estimation software suite, ensuring immediate access to essential diagnostic information for all team members. Additionally, the embedded feedback loop from technicians enables continuous self-learning and improvement.
In 16 months, Revv has expanded to 2,100+ repair locations and, in under 7 months, surpassed seven figures in ARR, with continued double to triple-digit quarter-over-quarter growth since. Looking to the future, the company is expanding its capabilities with the recent introduction of auto-quoting and advanced documentation tools. Additionally, following trials in the mechanical repair space, they’ve secured strategic distribution agreements to expand their footprint in this new market segment.
FinSMEs
20/11/2024