In the summer following his freshman year at Worcester Polytechnic Institute, situated in Worcester, Massachusetts, Daniel Pelaez, co-founder and CEO of Cyvl.ai, found himself in need of employment. Returning home, he took up a position at his local public works department, where he noticed a glaring absence of software for monitoring road maintenance. Assigned to scout for issues and rectify them while on duty, Pelaez encountered a landscape devoid of pertinent data. “I was filling in potholes, fixing signs, and clearing trees. But during my tenure there, I observed firsthand the absence of any substantial data,” Pelaez recounted to TechCrunch. This observation seeded an idea that would eventually sprout into Cyvl.ai—a company dedicated to aiding municipalities and civil engineering firms in digitizing transportation infrastructure monitoring.
The Genesis of Cyvl.ai: Transforming Road Maintenance through Innovation
Today, the Boston-based startup disclosed a $6 million investment, propelling its mission to revolutionize transportation infrastructure management. Pelaez articulated the company’s overarching vision, stating, “Our fundamental objective, the catalyst for our inception, is to facilitate the global advancement of transportation infrastructure maintenance and development.” This encompasses a spectrum ranging from roads and highways to sidewalks, airports, and railways—an arena where Boston, in particular, could benefit significantly from such innovation.
Cyvl.ai leverages sensors capable of generating digital replicas of infrastructure components, such as roads, pinpointing weaknesses and forecasting potential repair events. Employing lidar, cameras, and an array of sensors, the company amalgamates these inputs with proprietary data analytics and a geospatial AI pipeline. “Our end goal is to furnish our users, be it civil engineering firms or governmental bodies, with unparalleled insights into their transportation networks, enabling them to adopt a data-driven approach in managing these expansive systems,” Pelaez affirmed.
Navigating Government Partnerships: Overcoming Challenges for Municipal Engagement
Acknowledging the challenges inherent in selling to government entities, Pelaez revealed the startup’s strategy for navigating municipal engagements. Recognizing that external civil engineering firms often conduct road surveys or transportation assessments on behalf of cities or towns, Cyvl.ai has forged partnerships with these firms, establishing a symbiotic channel relationship. “In many cases, we rely on them to advocate for the benefits of our technology to the government, demonstrating how our solution enhances data collection and visualization, often at comparable or lower costs than traditional methods,” Pelaez explained.
The strategy has yielded promising results, with nearly 200 cities and towns adopting Cyvl.ai’s software within just 2.5 years of operation, translating to close to $2 million in annual recurring revenue (ARR). Pelaez emphasized that while competition exists, the primary hurdle lies in overcoming resistance to transitioning from manual to digital processes.
Headquartered in Somerville, Massachusetts, on the outskirts of Boston, Cyvl.ai presently boasts an 11-member team, with plans to expand to 20 by year-end. Pelaez, cognizant of his immigrant background and the value of hard work, is committed to fostering diversity within the company.
The $6 million investment was spearheaded by Companyon Ventures, with contributions from Argon Ventures, AeroX Ventures, and Alumni Ventures. Existing investors MassVentures, Launch Capital, and RiverPark Ventures also participated in the funding round, bringing Cyvl.ai’s total raised capital to $10 million.
See also: Dark Web Intelligence Platform, StealthMole, Secures $7M in Series A Funding
