What is REVTECH and why did you start it?
REVTECH is a seed fund and accelerator program for leading retail tech startups. I believe that Dallas is a logical hub for retail tech innovation given the number of national retailers headquartered here, most of whom are struggling to adapt to the rapidly changing retail model. I started REVTECH because most of my most interesting deal flow (as a VC in Dallas for the past 17 years) has been in this sector.
What technology trends do you see most impacting the field?
The tools today’s consumer has at their fingertips bring selection, comparison and convenience never before seen in human history. Retailers with legacy systems and processes simply can’t keep up.
How do you most like to stay up to date on trends?
I stay current on trends by monitoring the activities of the coastal VC’s and accelerators – especially those that focus on retail tech. I also evaluate the driving forces of M&A activity in the industry.
What’s the best piece of personal or professional advice you’ve been given?
Best advice I’ve been given is to surround myself with people smarter than me – not a high bar!
How did you get involved in the industry?
My involvement in retail began as a low-wage employee in my youth; it accelerated when I landed JCPenney as a major customer (in my past life as an entrepreneur) when they moved from New York to Dallas.
What are three things we wouldn’t guess to be true about you?
1) I’m personally a low-tech guy, only high-tech with my investments. 2) I’m a drummer (not a singer!). 3) I’m a Buckeye!
What do you think is the biggest change occurring in the retail industry?
The consumer’s growing ability to fill needs effortlessly and to focus their shopping efforts on the wants and unknown needs.
What do you do for fun?
Walk the dog, hang out with my wife and kids and occasionally disappear to my cabin in the mountains.
About David Matthews
David is the managing director and founder of REVTECH. David founded REVTECH in 2011 as a seed capital fund and accelerator program focused on technology innovation for the retail industry. He has over 25 years of experience in building and developing companies and investing in software startups. REVTECH has funded 30 companies to date, half of which were able to attract seed funding of $250k or more, and four that have achieved $1 million in revenue annually. David has also helped these startups create over 200 new jobs. His most successful endeavors include selling Green Mountain Energy to NRG and selling Fiber Systems International to Amphenol. Matthews was raised in Oklahoma City and earned his Bachelor of Science Degree from Ohio State University in 1986.