Brett Adcock is a serial entrepreneur who has co-founded two companies at the forefront of innovation in emerging markets: Archer Aviation and Figure.
Born on April 6, 1986, Adcock grew up on a corn and soybean farm in Moweaqua, Illinois. Even from a young age, it was evident that he had a knack for business. By the time he graduated as valedictorian from Central A&M, he had already been building and launching web companies since the age of 16.
In early 2012, Adcock had a breakthrough idea while living in New York City. Alongside co-founder Adam Goldstein, he launched Vettery, an employment marketplace website. Initially, Vettery focused on providing a software platform for third-party recruitment companies. However, it faced challenges in gaining traction.
By 2017, Vettery had become a prominent player in the recruitment industry, boasting 300 employees, 20,000 customers, and over 30,000 interviews taking place on its platform every month. The success caught the attention of the Adecco Group, the world's largest recruiting company, which acquired Vettery for a staggering $110 million in 2018. This acquisition provided Adcock and Goldstein with significant resources as they set their sights on new opportunities in Silicon Valley.
Adcock explained that with the financial backing from the acquisition, he wanted to tackle more challenging problems. He carefully considered the industry he wanted to work in, the problem set he aimed to solve, and the resources required. He became passionate about hardware and sustainability, believing in the importance of sustainable transport and addressing the long-standing issue of traffic congestion. It became clear to him that venturing into 3D airspace was a promising solution.
Electric VTOL (vertical takeoff and landing) aircraft seemed like a natural fit for Adcock's vision. These advanced electric passenger multicopters were already being developed by various groups worldwide. Adcock seized an opportunity when two major players faced setbacks.
Brett Adcock recalls that when Airbus relocated their Vahana team to France, he saw an opening and hired most of the team. Additionally, the team at Kitty Hawk was disheartened due to the Boeing acquisition. He managed to recruit the entire team, as they were eager for new opportunities. This allowed Archer Aviation to hit the ground running.
Archer Aviation, founded by Adcock and his team, quickly gained momentum. By 2021, they unveiled a full-scale, two-seat autonomous prototype of their Maker aircraft. Archer partnered with Fiat Chrysler for supply chain support and secured over a billion dollars in provisional orders from United Airlines. The company went public on the NYSE with a valuation of approximately $2.7 billion.
In November 2022, Archer revealed the stunning five-seat Midnight aircraft, which will serve as their first air taxi product once it receives FAA certification. Six months later, a flight-ready prototype was ready to begin test flights. Despite joining the eVTOL industry later than some competitors, Archer emerged as one of the leading players in the field, alongside Joby Aviation, Beta Technologies, and Volocopter.
Adcock's entrepreneurial journey didn't end with Archer. In April of the previous year, he left the company to pursue his passion for AI and robotics. This led him to establish Figure, a venture focused on creating autonomous humanoid robot workers. Leveraging his experience, Adcock swiftly assembled a 60-person team comprised of talent from reputable companies such as Boston Dynamics, Tesla, Google Deepmind, and Apple's secretive self-driving car program.
With substantial funding of around $70 million, Figure developed a bipedal humanoid robot prototype capable of performing various tasks. The company aims to deploy these robots in real-world applications, initially focusing on warehousing and logistics, by the end of 2024. Over time, Figure intends to expand the capabilities of its robots to match or exceed the physical tasks performed by humans.
Brett Adcock's journey from web startups to pioneering innovation in emerging markets showcases his entrepreneurial spirit and drive to solve complex problems. With his contributions to the eVTOL and robotics industries, Adcock continues to push boundaries and shape the future of technology.
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