Revibe Technologies today announced they have raised over $3 million in new funding, led by Carolina Angel Network. The new capital will be invested in the clinical and regulatory development of Revibe’s flagship digital therapeutic device, the AI-driven Revibe Connect smartwatch. The company also announced the hiring of Joseph Koziak as CEO, replacing founder Rich Brancaccio, who will transition to Chief Innovation Officer.
The funding comes at an important time as numerous studies have shown the impact of the COVID-19 pandemic on students already dealing with issues of focus. The Revibe Connect aids students by using an algorithm controlled by artificial intelligence to send vibration signals to the wearer reminding them to stay focused and achieve their best work independently.
“I’m proud of the company I’ve built and the work I’ve done at Revibe, and even more excited about the work I will continue to do as I focus on my areas of strength: psychology, technology, and product innovation,” said Brancaccio. “With such a huge opportunity in front of us, I wanted to maximize our chances of success by recruiting an experienced, top-tier CEO which we did with Joe.”
Before joining Revibe, Koziak served as the CEO of Amblyotech, a company that developed a digital technology for the treatment of amblyopia. The company was sold to Novartis in April of 2020. Over the past 25 years, Koziak has focused on the acquisition, development, and commercialization of medical devices, diagnostic products, and pharmaceuticals. He has founded biotechnology companies and has created successful exit strategies by way of IPO and M&A. Koziak has raised equity financings and negotiated industry-leading collaborations and licensing agreements with Roche, Novartis, Atrium, Glaxo, and Ubisoft.
“After meeting with Rich and understanding the problems he was solving with Revibe, joining the team was an easy decision for me,” explained Koziak. “The Revibe Connect is a best-in-class product and I look forward to leading this team and helping to fulfill Rich’s original vision of helping children and young adults experience academic and personal success.”
Founded in 2013, Revibe has received research funding from the U.S. Department of Education and has been adopted by multiple school systems across the United States, including New York City, Denver, and Wake County, NC.