1. Cyvl.ai co-founder Daniel Pelaez saw a need for better software for tracking road repairs while working at his local public works department during college.
2. The Boston-based startup uses sensors, cameras, and data analytics to create digital twins of transportation infrastructure and predict repair events.
3. They have partnered with civil engineering firms to sell their technology to municipalities, leading to close to 200 cities and towns using their software and generating $2 million in annual recurring revenue.
Daniel Pelaez, co-founder and CEO of Cyvl.ai, started the company after noticing a lack of software for tracking road repairs while working at his local public works department. This led to the creation of a firm that helps municipalities and civil engineering firms bring a digital layer to tracking transportation infrastructure conditions. The Boston-based startup recently announced a $6 million investment, with a focus on building and maintaining better transportation infrastructure such as roads, highways, sidewalks, airports, and rail.
Cyvl.ai utilizes sensors to create a digital twin of infrastructure pieces like roads, identifying weaknesses and predicting repair events with the help of lidar, cameras, and sensors. They provide civil engineering firms and governments with better data on transportation systems, aiming to make them more data-driven when it comes to infrastructure maintenance. Despite challenges in selling to governments, the startup has found success by partnering with external civil engineering firms to showcase the benefits of their technology.
With close to 200 cities and towns already using their software generating close to $2 million in annual recurring revenue, Cyvl.ai’s approach has shown promise. The company, based in Somerville, Massachusetts, currently has 11 employees and plans to expand to 20 by the end of the year. Pelaez emphasizes the importance of building a diverse team and highlights his background as the son of an immigrant from Colombia who worked his way through college. The recent $6 million investment was led by Companyon Ventures, bringing the total raised by the company to $10 million.