Rev1 Ventures Proves Approach for Scaling Startups
Leading Venture Fund Reveals Portfolio Has Generated $1.2B in Capital, Revenue and Exits
Columbus, OH—April 18, 2017—Columbus was named the top city for scaling startups by the Kauffman Foundation, and based on new growth metrics released by Rev1 Ventures today, it is clear the venture fund’s portfolio is one of the catalysts for the region’s success. New data shows Rev1 has produced $1.2B in capital, revenue, and exits in the past three years – and a snapshot into its growth in 2016 shows Rev1’s portfolio companies generated $86M in revenue and created and retained more than 1,014 jobs in the last year alone. Rev1’s portfolio companies raised nearly two-thirds of the $65M in capital secured by Columbus region startups in 2016.
“The true indication that a region is creating sustainable entrepreneurial success is when startups begin to scale,” said Tom Walker, CEO of Rev1 Ventures. “Central Ohio is an ideal hub for startup activity because of the innovative spirit of the region’s entrepreneurs and support from the corporate and public sector, as well as active angel investors.”
Since Walker’s appointment and the company’s re-launch in 2013, Rev1 Ventures has evolved from funding just a hand full of companies to investing in more than 70 companies over the past three years, making it the most active VC in the region two years in a row, according to PitchBook. Rev1 made 27 investments in 2016 alone, and 63 percent of those were follow-on funding rounds.
“Rev1 has been instrumental in helping us through the evolution of our growth,” said Michael Morgan, CEO of Updox, the industry leader for care coordination and healthcare customer relationship management (CRM) solutions. “As early investors and trusted advisors, Rev1 has proven its commitment to our ongoing success and because of that, we have been able to focus our attention on delivering a groundbreaking solution for helping healthcare providers streamline communications and run their businesses more efficiently to support effective care coordination.”
“This past year, we educated more than 1,200 entrepreneurs in our region and more than 200 entrepreneurs and corporate innovation teams completed our product market validation training.” said Kristy Campbell, COO and CMO of Rev1 Ventures. “But, what we’re most proud of is that more than half of the entrepreneurs we worked with are women, minorities or veterans. We are committed to helping all entrepreneurs build great companies, while also improving the diversity of our portfolio.”
Backed by a stage-based startup studio, Rev1 helps new and experienced entrepreneurs identify, build and scale disruptive companies by connecting them with capital and expertise from the company’s seasoned, data-driven team.
Rev1 recently achieved the Standards for Excellence® certification, a national initiative established to promote the highest standards of ethics, effectiveness, and accountability in nonprofit governance, management, and operations. Rev1 is only the second venture development organization to receive this recognition.