The Impact of Innovation

 

Rev1 Ventures helps entrepreneurs and innovators build great companies. This report tells the story of the innovators we work with who have created transformative, scalable technologies that are making positive impacts on people’s lives.

 

Letter from our CEO and Board Chair

We are excited to present to you the 2024 Rev1 Ventures Impact Report. It’s been a year of growth and evolution for Ohio entrepreneurs showing that the entrepreneurial engine in Central Ohio continues to thrive amidst a changing economic environment.

At Rev1 Ventures, we remain committed to supporting entrepreneurs in building high-tech, high-growth companies. Though these businesses make up a smaller portion of the overall economy, their impact is significant, attracting venture capital and investment that strengthens the region. We measure their influence through capital raised, revenue generated, and value created at exit—clear indicators of their outsized economic impact.

Our entrepreneurs achieved a remarkable $1.3 billion of impact (capital, revenue, and exits) in 2024. Read the full letter.


2024 Startup Impact

$1.34B

Revenue | Capital | Exits

$6.71B

All Time Impact from 2013 – 2024

2024 Impact includes client revenue, capital attracted and exits.

 

 

*Jobs Created & Retained metric measures client full time employees. Note that this metric is understated, as the majority of job growth occurs once clients outgrow Rev1 services and stop reporting data.

 

 

 

 

In the Community 

Each year we support more than 100 entrepreneurs through community education that fosters new ideas and encourages early product market validation. On average, 50%+ of the companies completing our pipeline programs have diverse leaders.

 

Enterprise Software and Advanced Technologies

Our region is powering the next wave of high-tech innovators. Click below to read their stories. 

 Read More 

Improving the way we work

Our clients are scaling, solving big problems, and creating lasting impact in industries across the globe. 

Bringing technology from idea to reality

Rev1 supports companies bringing advanced technologies to market, including advanced materials, alternative energy, advanced manufacturing, sensors, hardware, food and agriculture technologies.

Life Sciences

Rev1 serves as an important commercialization partner to The Ohio State University and Nationwide Children’s Hospital to bring groundbreaking healthcare innovations to market. This includes therapeutics, medical devices, diagnostics, gene therapy and pharmaceuticals.

 

 

Innovating Life-Changing Technologies

With more technologies in clinical trials than ever before, 2024 saw nearly $600 million in funding go to support promising innovations in our region. The momentum is building, and technologies in our backyard are providing vital, life-changing outcomes.

 

Venture Capital

The Rev1 Capital team knows what it takes to support sustainable companies—through recessions, rising interest rates, and market shifts. We’re proud of the success of our more than 140 portfolio companies.

 

 

Supporting the Most Promising Companies

Redi.health believes every patient has the ability to overcome today’s healthcare barriers if they are given the right tools. We empower patient
Learn more about Redi.Health
Developing a therapy and vaccine to treat and prevent pneumonia.
Learn more about Clarametyx Biosciences
Hardware Acceleration for Zero Trust Computing.
Learn more about Niobium Microsystems
Content creation platform for AR & immersive media.
Learn more about Trace
Champ titles - leading edge digital title management
Learn more about Champ
Engineering the future of precision genetic medicines today.
Learn more about Neucore Bio
Armatus Bio, based in Columbus Ohio, is an emerging biotechnology company.
Learn more about Armatus Bio
We help you automate your financial data, empowering you with actionable financial intelligence.
Learn more about HubiFi
ReadySet solutions offer advanced scheduling, device tracking, real-time notifications, invoice reconciliation and system reporting
Learn more about ReadySet Surgical
Introducing the next generation mobility safety starting with Driver™, the app that turns your phone into an AI-powered dash cam.
Learn more about Driver
Your Bridge to a Clean Energy Future
Learn more about Power to Hydrogen
Shaping the focus of myopia control
Learn more about Myoptechs
Synota integrates with your systems to save you time and money.
Learn more about Synota
A brand new 503B outsourcing facility. Bringing Safety, Transparency, Availability and Quality to compounded medications. staqpharma.com
Learn more about STAQ Pharma
Cultural Listening for Consumer Insights
Learn more about Nichefire
Make better business decisions with the power of AI
Learn more about Conversight
PFAS destruction technology
Learn more about Enspired Solutions

Funding Headlines

Ohio State spinoff takes aim at nearsightedness in kids – Columbus Business First
Rev1 Ventures Leads Power to Hydrogen’s Series A Funding
HubiFi, advanced accounting automation solution, secures $2.5M seed funding to automate revenue management for high-transaction enterprises
Augmented reality creation platform Trace launches with $2M
Load More

Talent Pipeline

By supporting the development of a strong talent pipeline, we help ensure that the next generation of leaders and innovators stays in our region, driving sustainable growth and long-term impact.

 

 

Connecting Talent At All Levels

Our work strengthens Columbus’ talent pipeline – from interns who turn into fulltime team members, to recruitment and placement of executive-level talent and mentors who fill critical skill gaps and make lasting connections.

Partnerships

Through tailored innovation strategies and hands-on collaboration, Rev1 brings together corporate partners, funding collaborators, and vetted service providers to create a dynamic ecosystem where startups thrive.  

Building a high-value network

Our network of strategic partners are helping to fuel market-driven solutions, create high-value jobs, and drive breakthrough advancements.

 

 

Rev1 Labs 

Rev1 Labs is not just a workspace – it’s a heart of innovation and a launchpad for startups on the rise, bringing peers together to unlock new opportunities and scale faster than ever.

 

Future of Innovation Space

In 2024 we announced exciting plans to create two new innovation spaces to serve startups and spinouts in our region. The first to be developed in “Software Alley” downtown is The Studio by Rev1. Funded with support from the City of Columbus, it will be Rev1’s new headquarters and a place to deliver our services to support startups and scale ups. The second space to be developed in partnership with The Ohio State University will focus on supporting spinouts with new modern wet labs and acceleration offerings in the Carmenton district.

The Progress of a Region

We are proud to support each founder’s journey that forms part of a larger movement, driving progress for our region and inspiring continued investment in technologies that make a meaningful difference in Columbus and beyond.

 

Our revenue, which enables us to drive this progress, comes from corporate innovation contracts, investment fund management, partner support, returns on investments, and Ohio Third Frontier funding. Rev1 Ventures and our investment funds are annually audited by an independent firm, ensuring transparency and our commitment to building sustainable growth and innovation across the region.

 

2024 Inflows

 

2024 Outflows

 

2024 Investments

 

Board of Directors

Sue Zazon
Huntington Bank

President, Central Ohio Region

David Dennis
Cardinal Health

Vice President of Strategy and Business Development

Dennis Durbin, MD, MSCE
Abigail Wexner Research Institute at Nationwide Children’s Hospital

President

Chetan Kandhari
Nationwide Insurance

Chief Innovation and Digital Officer

Michael Luh
Worthington Industries

Managing Director of Worthington Ventures

David Meuse
Stonehenge Partners

Rev1 Chairman Emeritus

Peter Mohler
The Ohio State University

Executive Vice President

Terrence O’Donnell
Dickinson Wright

Member and Government Relations Group Chair

Matthew Orr
The Crane Group

Vice President

Mike Papadakis
The Ohio State University

SVP and Chief Financial Officer

Amy Taylor
Downtown Columbus, Inc.

President

Tom Walker
Rev1 Ventures

President & Chief Executive Officer

Shaun Young
Nurx

SVP Operations

Kim Zavislak
KPMG

Columbus Office Managing Partner

 

Rev1 Leadership Team

 

We extend our heartfelt gratitude to our leadership team for their unwavering commitment, strategic vision, and steadfast support. Their guidance has been instrumental in driving our mission forward and ensuring that we continue to create meaningful impact for the founders and innovators we serve.