The venture capital firm Revolution where I am a cofounder and partner on the Revolution Growth fund invests in brilliant entrepreneurs that are building disruptive and innovative businesses that have the power to transform major industries. This year Forbes named two of our companies to their list of 25 U.S. companies that have a shot at reaching a valuation of $1 billion or more – a status symbol in the startup world.
Optoro is a D.C. based startup founded by two entrepreneurs Tobin Moore and Adam Vitarello. It is the world’s leading reverse logistics platform, meaning the software platform manages returned and excess inventory for major retailers, a $500 billion industry in the U.S. Every year more than 10 percent of all goods sold get returned and an almost equal amount end up as excess inventory resulting in billions of dollars in losses for major retailers.
Optoro is a technology company that connects return and excessed goods to its next user helping reduce waste and reduce revenue losses.
Interactions is a Boston-based software company that uses a blend of artificial intelligence (AI) and human understanding to help companies with their customer service needs. Now more than ever customer service is important to the consumer experience and Interactions is able to provide a smarter and painless solution for customers with question and issues.
Congratulations to Optoro and Interactions for being a Forbes Next Billion-Dollar Startups.