The connections we’ve made through Rev1 have been paramount to our traction in the market.
COLUMBUS, Ohio (PRWEB) April 25, 2018
Today, Rev1 Ventures released the impact of its investor startup studio that combines capital and strategic services to help startups scale and corporations innovate. Columbus recently ranked among the top 10 U.S. cities for entrepreneurs and start-ups by Business.org, and was named the #1 City for Scaling Up Startups by the Kauffman Foundation for the second consecutive year.
Rev1’s report – Startup Impact 2017 – outlines the key impacts contributed to the Columbus startup ecosystem over the past five years, including:
- $70 million in capital added, bringing Rev1’s capital under management to $90 million;
- 83 unique startups funded, including 28 spinouts from research institutions like The Ohio State University;
- Nearly half of Rev1’s investments were follow-on funding to growing companies; and
- $732 million in capital attracted to the companies Rev1 supports.
“This momentum is the result of our five-year plan for spurring high-growth entrepreneurship and innovation that has been supported by the area’s corporations, research organizations and seasoned investors alike,” said Tom Walker, Rev1 president and CEO. “We continue to be inspired by the number of entrepreneurs and the types of innovations coming out of Central Ohio, so it’s no surprise to us that Columbus is now among the most active seed regions in the U.S.”
Rev1’s investor startup studio approach matches strategic services with capital to help innovative entrepreneurs accelerate milestones and deliver real solutions for the customers they serve.
In 2017 alone, Rev1 clients generated $111 million in revenue and attracted $90 million in capital. Beyond the financial impact, diversity is an added benefit of Rev1’s approach to growing startups.
“Thirty-eight percent of our 2017 investments were in companies with a woman, minority or veteran founder, CEO or inventor as its leader,” said Kristy Campbell, chief operating officer at Rev1. “Nearly 60 percent of our deal flow was also diverse, as were more than half of our clients. We are extremely proud of this progress and the impact of our efforts to change the equation for underserved entrepreneurs.”
“Rev1 has proven its commitment to growing diverse startups in this region, thanks to an approach that focuses on supporting the most high-potential businesses,” said Pamela Springer, CEO of ORIS Intelligence, provider of actionable insights that preserve pricing integrity for manufacturers. “As a founder who has raised capital many times before, I appreciate that Rev1 rolls up its sleeves and is dedicated to the long-term success of my business.”
Rev1 works closely with Ohio’s economic development partner – the Ohio Third Frontier – and its research institutions like The Ohio State University, Nationwide Children’s Hospital, and OhioHealth, which are among the leading clinical and research institutions in the country. These partners encourage both staff and students to bring forward ideas and discoveries. Rev1 also partners closely with the region’s Fortune 1000 base, connecting startups to corporations to benefit both.
“The connections we’ve made through Rev1 have been paramount to our traction in the market,” said Nick Potts, CEO of ScriptDrop, a prescription delivery and medicine reminder service. “With the support of Rev1 and our innovative platform that helps pharmacies lower abandon rates, we have made significant company strides, including launching with Albertsons, a grocery chain with over 2,000 pharmacies. We also developed a strategic partnership with another Rev1 portfolio company, Updox, to create secure communications with patients, physicians, and pharmacies.”
Walker looks forward to the next five years and continuing to grow the Columbus and Midwest startup ecosystem. “Our community will continue to be a leader in increasing commercialization from research institutions, growing access to capital and supporting the diverse entrepreneurs creating start-ups that scale,” said Walker.
For more information and to download Rev1’s report, visit Rev1 Startup Impact Report.
About Rev1 Ventures
Rev1 Ventures is the investor startup studio that combines capital and strategic services to help startups scale and corporates innovate. Based in the Midwest, and in the number one city for scaling startups, Rev1 aligns innovators and founders with corporate and research partners to access customers and markets, helping entrepreneurs build great companies. With a proven track record of identifying, guiding and investing in high potential startups, Rev1 helps companies solve real problems for markets in need of real solutions. Rev1 has more than $90MM in capital under management, providing a capital continuum from corporate and community partners, as well as the Ohio Third Frontier. Rev1 has been named among the Most Active VCs in the Great Lakes Region for the past three years in a row, according to Pitchbook. For more information, visit http://www.rev1ventures.com.