Rev1 Ventures helped generate nearly $450 million in capital, revenue and exits in 2020
The success of our portfolio in 2020 speaks volumes about the tenacity of entrepreneurs in Central Ohio, as well as Rev1’s commitment to supporting them through good times and bad.
COLUMBUS, Ohio (PRWEB)
April 27, 2021
Today, Companies Rev1, the start-up studio that combines capital and strategic services to help startups scale and businesses innovate, announces impact on central Ohio’s economy in 2020 with $7.3 million in funding deployed in 25 companies. Rev1’s investments have helped generate more than $113 million in revenue and nearly $140 million in exits for startups in the region, including the December acquisition of holding company Rev1, Update. Updox, the leading healthcare communications platform for in-person and virtual care, has been acquired by EverCommerce, a leading software company transforming the service economy. Overall, the economic impact of Rev1 exceeded $2.8 billion.
“The success of our portfolio in 2020 speaks volumes about the tenacity of Central Ohio’s entrepreneurs, as well as Rev1’s commitment to supporting them through good times and bad,” said Tom Walker, CEO of Rev1 Ventures. “While we are proud of the $193 million in capital attracted to the region, we are committed to continuing our upward trajectory by supporting underserved entrepreneurs in our community. Last year, more than half of the companies in our portfolio had a minority or a woman as an inventor, founder or leader. We recognize that there is a lot of work we need to do to improve the diversity of all startup founders and investors. Rev1 is prioritizing diversity, equity and inclusion in 2021 and beyond, because we know it’s long overdue and we’re committed to following suit. »
Despite a tumultuous year for companies, venture capital funding grew by 14% in 2020, reaching $130 billion; however, start-ups have seen their support decline. Rev1 remains focused on its mission to support high growth businesses and drive economic development in Central Ohio. The new report follows the Rev1 Future Value Fund I (FVF), a $10 million for-profit investment fund and the largest pre-seed fund in Columbus history.
Last year, Ohio startups had a banner year for investment, and Central Ohio led the way, with the Columbus metro area ranking 21st among cities in the nation. From COVID-19 testing to telehealth to better ways of working, Central Ohio startups are ushering in a new era of ideas and innovation.
“During the pandemic, we took an existing part of our platform that sends out surveys and repurposed it to send out COVID symptom surveys,” said Dan Fronczak, co-founder and president of Healthy list. “The end result has been the nationwide adoption of Healthy Roster by universities, businesses, and professional sports organizations. Groups like Rev1 allow companies like ours to take these kinds of risks and their support is paying off!”
“Rev1 will continue to collaborate with companies and research partners to fuel new investment opportunities and support even more startups in 2021,” added Walker.
For the full Rev1 2020 Impact Report, visit https://www.rev1ventures.com/wp-content/uploads/2021/04/2020-Rev1Ventures-ImpactReport-FINAL2.pdf.
About Rev1 Ventures
Rev1 Ventures is the startup studio that combines capital and strategic services to help startups scale and businesses innovate. Based in the Midwest, Rev1 connects entrepreneurs to talent, customers, space and financing, to help entrepreneurs build great businesses. With a proven track record of success, Rev1 has been Ohio’s most active seed investor for the past seven years. For more information, visit http://www.rev1ventures.com.
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