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We are proud to announce our investment in Manchester-based SamsonVT and its mission to transform product maintenance and after sales – a $1 trillion market. Co-founders Sam Burgess and Ed Brunyee have set out to help Original Equipment Manufacturers (OEMs) of all sizes enhance customer service, improve operational efficiency and grow revenues, by introducing Industry 4.0 solutions to better manage the life cycle of equipment at a global scale.
When we first met Sam and Ed, we were captivated by their passion and vision to transform the after sales market, which most small and mid-sized OEMs don’t have the resources to invest in. We’re particularly excited about the opportunities to:
- Partner with co-founders who bring deep technical and business backgrounds from the industry.
- Build more efficient and sustainable businesses for OEMs tackling product maintenance and after sales at a global scale.
- Leverage emerging technologies, including immersive 3D modelling and machine learning, to transform both the day to day operations and trajectory of a massive, global industry.
- Build on a growing customer roster that already includes global businesses such as Lotus, RS Components and Norton Motorcycles.
- Support an enterprise technology use case consistent with our investment thesis and portfolio success stories.
- Help SamsonVT expand into new markets in the U.S. and beyond.
Blumberg Capital Thesis & the SamsonVT Opportunity
Our team recognizes that the after sales, parts and product maintenance markets are overdue for digital transformation. Large auto, construction and farm equipment OEMs have significant revenues flowing from these ancillary markets, due to the technology ecosystem that they’ve built around their core products. Meanwhile, hundreds of thousands of small mid-sized OEMs are left behind without the resources to adopt new technologies in the same way.
Ed and Sam have developed a 3D modeling technology, SamsonCORE, that allows a construction equipment OEM, for example, to build highly accurate replicas of their product that service engineers can interact with on screen – instead of using the traditional printed technical manuals and parts catalogues.
By working with the OEM, SamsonVT can ingest an original equipment parts library so users, upstream and downstream, have a true accounting of the parts and assembly. This allows small and midsized OEMs to have highly accurate parts and labor books, via a digitized format that can be used for maintenance, books of record, training and predictive analytics.
Our team is proud to be one of SamsonVT’s first investors and to partner with its visionary founders and talented team, including Par Equity and Sand Hill East, to redefine after sales. We welcome SamsonVT to Blumberg Capital’s community of visionary founders and innovative supply chain and logistics technology companies.