Rever becomes the first Mexican startup to obtain investment from capital fund Sequoia Capital
Rever, the online platform that allows manufacturing companies to involve employees in executing processes of continuous improvement and culture of the company, received US$2.5 million of investment from the venture capital fund Sequoia Capital and Zetta Venture Partners.
This is the first time that the fund invests in a Mexican company, and is recognized for investing in the early stage of companies that are now an icon in their sector, such as Apple, Google, Oracle, Cisco, PayPal, LinkedIn, YouTube, WhatsApp, Yahoo and Instagram.
In an interview with El Empresario, Rever’s founder, Errette Dunn, said that the investment of Sequoia Capital and Zetta Venture Partners means for the economy “a vote of confidence from high caliber investors . . . they recognize that we are not crazy, that our vision is not bad, it has real growth potential, and gives us all the necessary security to continue growing our team and offer.”
He specified that the amount will go to grow the staff, especially the number of programmers in Guadalajara, where the company was founded, but also the area of marketing and sales. “Because, until now, all the effort that has been achieved with clients has been without a team in this area. In the next 12 months we will grow the team, which currently consists of 12 people, and will be four times more, about 50 people.”
This will help meet the company’s objective of expanding internationally and having the ability to offer global coverage to all customers.
Companies such as Grupo Bimbo, Audi, Mars and Philip Morris International use Rever technology to involve all employees in process improvement. Bimbo is working to apply the technology internationally. “We are now in an agreement to expand internationally, in 190 plants in 32 countries,” said Dunn.
The Rever’s three-to-five-year goal is “to become the digital commercial interface for all workers who are on the production floor, field and warehouses, because currently these workers have almost no technology in their work every day; most of them do not even have a corporate email. For us it is a great opportunity to become that official channel between the companies and their employees, with the purpose that these employees use their maximum creative potential for the benefit of all.”