This Impact Report summarizes the many accomplishments of our community of entrepreneurs, innovators, and investors.It is something to be proud of, especially considering all that we have been through beginning with the pandemic in 2020 and the resulting backdrop of recent market conditions. When we think about the many achievements of these businesses during these volatile times, it really is extraordinary.
In spite of these challenges, 2022 was actually a strong year for Rev1 Ventures. Our portfolio reversed national exit trends, allowing us to provide strong distributions to our community investment partners. These returns came from companies we’ve supported for many years that reached impressive maturity in 2022.
The success of those companies validates the viability of our business model. As the pipeline of entrepreneurs and innovative new companies in Central Ohio continues to grow, we are adapting the way we support new pre-seed and seed-stage companies. In 2022, we helped 56 of these companies raise more than $250,000 in critical early-stage capital and a total of 40 companies raise more than $1M. That’s a strong pipeline of entrepreneurial startups added to Ohio’s economy.
The Columbus community has been steadfast in supporting Rev1’s efforts to launch and build a startup infrastructure and economy. We are excited about the success of the entrepreneurs and companies that we support. Our programs will continue to mature and adapt to the evolving needs of entrepreneurship in Central Ohio. As the pipeline of entrepreneurs and innovation continues to grow, our future is bright.
Revenue | Capital | Exits
All Time Impact from 2013 – 2022
Dive deep into a few of our 2022 investments:
Closing the capital gap for entrepreneurs is an important part of our mission. With focus on pre-seed and seed stage funding we track the number of companies that access $250K+ and $1M+ as a means to monitor the growth of the start-up market. 2022 showed a growth in both areas.
Rev1’s clients are full of big ideas. These companies are ready to tackle issues in public safety and policing, cybersecurity, enterprise software, technologies to detect algae in water supply, mobile platforms for health and wellness, business development for real estate investors, IT, life sciences, and more.
A landscape like ours in only possible with strong collaboration and partnerships on every sector. The Ohio State University and Nationwide Children’s Hospital have consecutively worked with Rev1 Ventures, its entrepreneurs, and innovators. We’re proud to highlight a few funded spinouts below.
Startup success breeds startup success. High-growth companies bring new innovations to market while growing family-wage jobs, attracting capital, creating positive returns for investors, and building a prosperous community. This year we added 6 exits to our notable exit list. Learn more about a few of them below.
In 2022 we continued to grow our Innovation Internship Program to create a pipeline of talent to fuel the startups of the future!
In 2022, we expanded our commitment to underserved entrepreneurs:
We know companies with diverse leadership are more successful. However, diverse and underserved founders face many challenges, including lack of access to early friends and family funding. With support from Franklin County and the City of Columbus, we launched this new grant program to fund promising companies with diverse leaders. Three companies received $100,000 grants
Our innovation center is proving to be the best place in Central Ohio for founders, talented teams, and investors to start a company and accelerate growth. With the right connections and resources this is proven to be more than just a place to work.
Raised by Resident
Resident Revenue Generated
Leading enterprises leverage Rev1’s startup studio approach to create, engage, and invest in breakthrough innovations. In 2022 we added two unique partnerships:
Worthington Industries: This partnership is focused on fueling innovation in smart manufacturing, Internet of Things (IoT), data & analytics, and sustainability, investing up to $10 million per deal.
COTA: A partnership through COTA’s GO! Mobility Lab, is working on advancing new technologies in customer experience, mobility planning, and operational excellence.
SVP Commercial Lines and Managing Director
Rev1 Chairman Emeritus
SVP and Chief Financial Officer
Chief Executive Officer
Columbus Office Managing Partner
President, Central Ohio Region
President & Chief Executive Officer
Member and Government Relations Group Chair
Vice President of Strategy and Business Development
Rev1 recognizes that delivering these impacts takes a community-wide effort. We are proud to have the support of over 60 partners in economic development, strategic innovation, donated and discounted services, and venture fund investors including critical support from Ohio Third Frontier. Thank you for your continued support – we couldn’t do it without you.