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The original item was published from 1/7/2020 4:18:00 PM to 2/12/2020 9:45:36 AM.

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Danville, VA Local Government News and Announcements

Posted on: January 7, 2020

[ARCHIVED] The Launch Place invests again in Revibe

The Launch Place today announced it is making a second investment in Revibe Technologies to assist the company with its latest product – a smartwatch that uses machine learning to send vibration signals to remind the wearer to stay focused and achieve their best work independently inside and out of the classroom.

The watch learns the user’s needs and adapts itself accordingly. Though the watch’s main consumers are students, it is also marketed as a resource for teachers, schools and parents.

Besides the focus vibration reminders, Revibe’s key features include date and time display, step counting, splash-resistant hardware and an app that shows metrics of the wearer’s daily activity (e.g., attention span, fidgeting, etc.).

“One thing I enjoy about investing in and working with startups at The Launch Place is seeing how the companies grow and expand over the months and years we partner with them,” said Eva Doss, The Launch Place President and CEO. “The Launch Place was the first institutional investor of Revibe; we took an early risk, and it has been a pleasure watching Revibe Technologies grow to where they are now, and I look forward to seeing what the future holds for them.”

To date, The Launch Place has invested $4.3 million in 17 portfolio companies. It also provides valuable business resources from its offices in Danville, VA, and the Research Triangle Park, NC. The Launch Place has traditionally invested in companies that align with the advanced manufacturing, IT, medical technology and other high growth industries.

The Launch Place first invested in Revibe Technologies five years ago when it was an early stage wearable tech startup operating as FokusLabs. The investment of $40,000 went toward helping the company research and develop its prototype.

According to Brancaccio, one component of the partnership that Revibe Technologies is looking forward to is meeting The Launch Place’s Danville connections in the packaging and distribution space. With a product on the market, they are looking to expand the scale of their operations.

“The Launch Place has already helped us proliferate fundraising efforts and gain capital through their extensive network of investors,” said Brancaccio. “Their help has allowed our company to grow bigger and better, and we’re confident their expertise will help us continue to scale our business well into the future.”

Revibe Connect currently has a 4.2-star rating with more than 300 consumer reviews. The technology was built through insight from hundreds of case studies and the watch has improved the educational outcomes of thousands of students across the United States.

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