ModVans

New Type of RV

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Company Information

Website:

https://www.modvans.com/

Sector:

Transportation

Location:

Ventura, CA

ModVans makes a line of modular camper vans and RVs.

Its first vehicle, the “CV1,” combines the versatility of a van, the durability of a truck, and the comfort of a passenger vehicle.

According to the RV Industry Association, in 2017, dealers sold more than $20 billion worth of RVs, the highest in history.

Meanwhile, M&A activity in this sector has increased. In November 2016, after just four years of business, Grand Design RV was acquired by Winnebago for approximately $500 million. At the time, the early-stage startup was producing just 6,000 RVs annually.

ModVans’ CV1 is priced at $85,000, considerably more affordable than competing RVs that can cost $100,000 or more. In its first year, ModVans sold more than $2.4 million worth of CV1s.

Team Background

Peter Tezza - Co-Founder & CEO

Peter has more than 20 years of experience at early-stage tech companies and has achieved multiple successful exits.

Prior to starting ModVans, he was Chief Technology Officer for Find My Path, a software-as-a-service application to help students focus on their career paths.

For four years, he served as CEO of Jibebuy, a social network for shopping.

Peter was Engineering Manager for Tripwire, a software company focused on automated network security for businesses.

He co-founded Teztech, a technology consulting company, and Digital Agent, an internet service provider.

For eight years, Peter served as VP of Engineering for 3C Software, a company producing programs for cost remodeling and project estimation.

He earned a Bachelor’s degree in Physics from Georgia State University.

Laura Tezza - Co-Founder & Director of Operations

Laura has a background in areas including project management, marketing, and website content development.

She was previously an associate for KMJ Accounting Services.

She was also an MBA Advisor for Centro Community Partners, a company dedicated to training low-income and minority entrepreneurs to help them start a business.

For two years, Laura was in charge of product development and marketing for JibeBuy, the social network for shopping where her husband, Peter, was CEO.

She earned a Bachelor’s degree in Psychology from Georgia State University and an MBA from Mills College.

Raising
$1.07 million
Committed
$302K (28%)
Current Valuation
$13.50 million
Min. Investment
$101
Deal Type
Title III
(For all investors)
Offering Type
Equity
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