Portco Roundup: Rev1 Ventures Clients Gain National Recognition for Accelerating and Achieving Milestones

Scaling up a new company is a race against time.

The entrepreneurial path is different for every startup, but the route always includes critical milestones – market validation, prototypes, beta customers, and almost always, outside capital—from grants, pre-seed investments, and VC rounds.

Success is all about achieving those milestones—to convince investors to invest in the first place, and then, assuming the startup wisely deploys the capital to achieve even more milestones, to invest again.

From capital to FDA approvals, to strategic business partnerships, here’s milestone news from seven Rev1 client companies.

BeeHex – NASA spinout develops deep-space food solutions with 3D-printed food technologies

Beehex turned a lot of heads at the 2023 Consumer’s Electronic Show (CES) with the idea of turning plastic into food. Beehex is building a machine that collects plastic waste and then uses engineered bacteria to convert that plastic into biomass, which can be used to create a variety of textures and shapes. As reported by AXIOS, Interesting Engineering

DASI Simulations – Creates AI-guided 3D modeling software for visualization and planning of heart replacement

DASI received FDA clearance on May 30 as a medical device, clearing significant milestones—wider marketing insurance reimbursement and use in more procedures. It can take years to gain FDA clearance. DASI, an OSU spinout accomplished it in 15 months. The next steps for DASI are livestream surgeries, presentations at cariology conferences, and full-blown commercialization. As reported by Cardiac Interventions Today, Diagnostic and Interventional CardiologyGeorgia Tech, The Business Journals, 614STARTUPS

Invirsa – Developing new treatments for ocular conditions associated with DNA damage

Invirsa, a clinical-stage pharmaceutical company, closed a $7.7 million Series B round. The funds support multiple Phase 2 clinical studies underway as well as the preparation for Phase 3 studies. These significant milestones will further initial Phase 1 and Phase 2 testing completed in dry eye patients. As reported by The Business Journals, VC News Daily, Yahoo! Finance

MentorcliQ –The gold standard in employee mentoring software

With a customer base of hundreds of companies, MentorcliQ closed an over-$80 million growth investment from PSG that drew attention nationwide. MentorcliQ’s mentoring software helps clients navigate today’s employee challenges—Gen Z expectations, “quiet quitting,” widespread layoffs, and remote work, to name a few. As reported by TechCrunch, The Business Journals

SureImpact, Inc. – Helping members of the social-good sector manage outcomes and measure results

SureImpact, the software platform specifically designed for the social-good ecosystem raised $2 million in seed funding. In the last three years, SureImpact has grown to support nearly 2,000 workers at non-profits measure their impact on a collective 90,000 clients. As reported by FINSMES, TechCrunch+, The Business Journals

ScriptDrop – Provides a coast-to-coast delivery network and medication access expertise enabled by flexible technology

Uber Health announced the nationwide expansion of same-day prescription delivery with ScriptDrop. Uber Health’s 3,000 customers—health systems and insurers across the country—can now order prescription delivery using software dashboards that they already use. As reported by AXIOS, Reuters, Uber Health, Vatornews

Strongsuit – Providing Tech-enabled personal assistants to dual-income households

CEO and Strongsuit founder Lindsey Michaelides is sought out by national media as a credible and informed source on industry issues, ranging from how to keep high-performing women in the workforce, to the challenges presented by the failure of Silicon Valley Bank for an entrepreneurial company, to creating greater diversity in venture capital and the ranks of high technology startups. As reported by 10WBNS, Business InsiderDaily Mail, TechOhio

Rev1 puts in thought, energy, and planning to help entrepreneurs build successful companies from day one. Want to learn more? Contact us.