Q&A With Data Crossover On The $16m Target Round

Categories

PrintData Crossover signaled a $16m target in June to service the smart car revolution — a large first round figure for the fledgling startup.

Board member Tim Bates, who was brought into the company by founding partners Richard (Dick) Pomije (CFO) and Rick Zirbes (CEO), spoke with us about their purpose, vision, and the opportunity at stake:

What exactly is Data Crossover?

Vehicles, specifically consumer’s cars, are essentially operating systems on wheels that are driving within an IoT environment, and becoming more sophisticated every year.   We’re creating a mobile fleet of specialized OEM repair service technicians to meet the fast growing demand to keep these cars operating smoothly and safely while on the road.

85% or more of the market for automotive service and repair is smaller independent shops who are un/under prepared for the technology that’s already here and continuing to permeate our cars.  We provide on-demand resources to diagnose, fix, and calibrate the elaborate network of computers and sensors that are embedded within today’s automobiles

What is the vision for the company?

To build a national brand/chain in the service industry that augments wrench mechanic with the keyboard mechanic.    We think that in about 3-5 years the need for what we’re doing will become exponentially large based on consumer behavior patters as well as government mandated changes within the automotive industry.   This is currently a ‘high end’ car problem, but it’s definitely changing very quickly.

Once we become entrenched into the space from a service and support level, we will explore additional opportunities especially as fully autonomous vehicles make their way into reality.

Are you currently operating in the market and how so?

Yes, we’ve been live in the Minneapolis market for 6+ months now, growing profitably and examining the best ways to meet increasing demand.

How did you determine the $16m target round and how is that going?

This is a very large market opportunity with some experienced management. That’s the kind of potential scale we’re seeing out there based on the velocity of growth, overall geographic demand, skillset demands.   It’s a question of how fast we can expand into other markets very and become a nationally recognizable brand.  That’s what I can say right now about our current funding round.

Is there anything else you want to add?

We’re still young, so it will be fun to speak again once start growing up.

RELATED

Data Crossover Signals $16m Funding Round To Service The Connected Car Revolution

Q&A With CEO Jeremy Pierotti On Sansoro Health’s $1.2m Round

Quarterly Funding Review: 28 Minnesota Tech Ventures Captured $122m in Q2 2016

 

Comments

Sponsors