Description
In this particular detailed description with regards to exciting time to be part of the central ohio entrepreneurial community.
2014 Annual Report
TOM WALKER
President & CEO
HARRY HALLOWELL
SVP, Chief Investment Ofcer
Nationwide Insurance
Chairman of the Board, Rev1 Ventures
2014 WAS AN AMAZING YEAR
for Rev1 Ventures and an exciting time to be part of the
Central Ohio entrepreneurial community.
The year was about connectivity and collaboration. One of
our portfolio clients said it best, “If it takes a village to raise
a child, it certainly takes a community to start a business.”
Rev1 Ventures has been a catalyst, connecting
entrepreneurs to the expertise and capital that they
need to succeed. In 2014, we completed the build-out
of our team. We announced a rebrand that re?ects
our dedication, as a fast-paced venture development
organization, to a laser-like focus on startup success. We
launched a series of new investment funds totaling $22MM.
From the Ohio Third Frontier, to the outstanding
corporations and service providers headquartered here, to
our remarkable research institutions, this region has
rallied around entrepreneurs in uniquely meaningful
ways. It’s unprecedented in the region and even in the
country, and so unique that we’ve coined a special
name. We call it the “backyard efect.”
Thanks to Central Ohio for creating this backyard
efect between corporations, service professionals,
and research institutions, and the outstanding
entrepreneurs of this region as together we build
successful new companies.
This annual report re?ects the accomplishments, not
of a single organization, but of a community that is
dedicated to accelerating innovative new businesses.
1
$
187
MILLION
CAPITAL
ATTRACTED TO THE REGION
1,004
JOBS CREATED
AND RETAINED
WITH REV1 ASSISTANCE
$
156
MILLION
REVENUE
GENERATED BY
PORTFOLIO COMPANIES
$
109
FOLLOW-ON
MILLION
FUNDING SECURED BY
PORTFOLIO COMPANIES
2014 Startup Impact
Our Mission: Helping entrepreneurs build great companies
Innovation Mix
2
191% increase over 2013
33% increase over 2013
157% increase over 2013
MINORITY-LED
4X the national average
WOMEN-LED
17% 22%
IT/Software
Life Sciences
Other Tech
54% 14%
32%
169
ASSISTED
COMPANIES
WITH FUNDING
OR BUSINESS SERVICES
PROFESSIONAL ADVISORS
Startups who achieve success in Concept
Academy are paired with a Rev1 Advisor on
our team—all of whom have built, sold, or
invested in high-growth ?rms—to work hand-
in-hand to build working prototypes and
secure ?rst customers.
Traditional wisdom says: Entrepreneurship begins with a great idea, and
funding leads to customers. We say it’s the opposite—customers come ?rst.
That’s why our process starts with an approach that requires validating
markets before anything else.
Building great companies starts with
products people want.
CONCEPT ACADEMY
Startup success begins here. Launched in
mid-2014, Concept Academy is an intensive,
three-day program that provides simple and
powerful tools to interact with customers
and achieve market validation.
3
More at
bit.ly/rev1ca
STARTUP
CLIENTS
BECAME REV1
RAISED
BY CONCEPT ACADEMY
GRADUATES
COMPANIES GUIDED THROUGH
VALIDATION
PRODUCT
146
30%
$4.8
MILLION
Concept Academy Year 1 Results
REV1 LABS
There’s no better place than our internationally
ranked facility to fuel early success. This
unique space gives our more than 40
startups daily access to venture advisors and
professional industry experts. Being a resident
speeds both product iteration and time to
funding. In 2014, residents raised $1.07MM on
average, 2.7 times that of non-resident ?rms.
Real estate agents can promote their listings on
Facebook a thousand diferent ways. SocialMLS
completely automates the listing process and
connects the home seller’s Facebook network
to drive neighbors, friends, and family (and
their networks) to the agent’s listings online.
Founder Chris Sauerzopf had already taken a
run at launching SocialMLS when he signed
up for Concept Academy. He had correctly
identi?ed his target market and their problems,
but his plan wasn’t fully aligned with the needs
of the customers he hoped to serve.
“As an entrepreneur, it
becomes easy to operate
inside a vacuum. To have
Concept Academy help
me create solutions for my
potential target users—for
them and not for me—was
incredibly bene?cial. With
Concept Academy, I saved
time and energy identifying
what my audience was
really looking for instead of
developing concepts for me
and not for my client.”
CHRIS SAUERZOPF
Founder, SocialMLS
real estate agents could
leverage Facebook to better
promote their listings?
What if...
RANKED
#
3
IN THE WORLD
REV1 LABS
4
WAYNE EMBREE
EVP, Investments & Venture Acceleration
Rev1 Ventures
“We are working with entrepreneurs who
are so efective at market validation that
customers have signed up and written
checks before the prototype is built.”
More at
bit.ly/rev1labs
SocialMLS
The right connections at the right time
solve critical startup challenges.
That’s why in 2014 we launched a powerful program to harness the assets in our own
backyard. We call it First Connect and it helps startups secure expertise in these four
critical areas: strategic advisors, industry experts, customers, and talent acquisition. In
2014, we rolled out Advisors, Experts, and Customers, and designed Talent to be rolled
out in 2015. Seventy-?ve percent of our startup clients leveraged the network in its
?rst year.
5
First
Connect
Network
STARTUPS
T
A
L
E
N
T
E
X
P
E
R
T
S
C
U
S
T
OM
E
R
S
A
D
V
ISO
R
S
45
29
BROUGHT
VENTURE FOR
AMERICA
TALENT PROGRAM
TO COLUMBUS
COMPANIES
SECURED TO
PROVIDE MARKET
VALIDATION
EXPERTS
SECURED
TO SUPPORT
STARTUPS
101
PROFESSIONAL
ADVISORS SECURED
TO SUPPORT
STARTUP SUCCESS
More at
bit.ly/rev1talent
As a part of our First Connect program,
Clarivoy was introduced to M/I Homes, a
national leader in the new home building
industry. After Clarivoy helped optimize their
TV advertising, M/I Homes saw a 189 percent
increase in website visits attributable to TV.
“The access that Rev1 was
able to provide was huge.
They had already built this
network of people that they
knew they could call on.
Now we can get to work and
focus on growing
the business.”
STEVE WHITE
Founder & CEO, Clarivoy
TV advertisers could use data
to know exactly where to
advertise on television?
What if...
6
Clarivoy
CUSTOMERS
EXPERTS
ADVISORS
AT&T
AWH
Battelle
BioOhio
Cardinal Health
CareWorks
Central Ohio Primary Care
City of Westerville
Clutch Interactive
Columbus Metropolitan Library
Donatos
Grange Insurance
GSW/inVentiv Health
Lawrence Evans and Associates
M/I Homes
Advisory and Consulting Services
AWH
Bailey Cavalieri
Barnes & Thornburg
Base Two
BDO
Blue Sky
Brand Stamp
Bricker & Eckler
Buckeye Interactive
Calfee, Halter & Griswold
Carlile Patchen and Murphy
Chepri
Dickinson Wright
GBQ
Hennis, Rothstein & Ellis
Highbar Agency
HW&Co
Ice Miller
John Gerlach & Company
Kegler Brown Hill & Ritter
Paytime
Porter Wright Morris & Arthur
Prototype1
QStart Labs
Rave
Redwood Innovation Partners
Schifman | Grow & Co.
Sequent
Sway the Crowd
Taft Stettinius & Hollister
Taivara
TestDouble
The Floriss Group
Thompson Hine
UpSourced Accounting
VisionSpark
We Create Goodness
ZoCo Design
MindsOn
Motorists Insurance
Mt. Carmel
St. Anne’s Hospital
Nationwide Children’s
Nationwide Insurance
NCT Ventures
OhioHealth
Orthopedic One
OSU James
OSU Wexner
Safelite
State Auto
Worthington Industries
Startups need customers to succeed. Through
First Connect we secured access to these
world-class companies—eight of which became
customers to Rev1 clients in 2014.
Startups with strategic advisors are more successful.
We’ve gathered more than 100 of the most experienced
advisors who worked directly with Rev1 startup clients
to provide more than 520 hours of service.
Hand-picked industry experts provided our clients
with more than $775,000 in services in 2014,
helping them tackle their needs in legal, accounting,
HR, and more.
More at
bit.ly/rev1clarivoy
In 2014, Rev1 invested in 18 companies, making our seed fund
one of the most active in the Midwest. With $44MM under
management, we ofer startups a continuum of capital.
Rev1 Ventures became one of the
most active seed funds in the Midwest.
$1 MILLION
RAISED MORE THAN
IN FUNDING
20 COMPANIES
RECEIVED
A COMBINED
IN INVESTMENTS FROM REV1
$4 MILLION
COMPANIES
18
7
Here are some of the companies that received investment from Rev1 in 2014.
$
109
MILLION
IN FOLLOW-ON
FUNDING SECURED
BY PORTFOLIO COMPANIES
Print Syndicate is a Columbus-based design,
marketing, and technology company that ofers
consumers unique, well-designed products
based on the latest topics and trends. Think
cool t-shirts with a heavy dose of humor.
From 2012 to 2014, Print Syndicate had
to bootstrap operations. Three years, 100
employees, and $12MM in revenue later, the
company closed a $4.25MM Series A round
led by Data Point Capital in Boston. We co-
invested in that round with others, including
investors from DC and Las Vegas with
connections to ecommerce stars Zappos and
Groupon.
In 2015, Print Syndicate
was named to Forbes list of
America’s Most Promising
Companies, which features
one-hundred privately held,
high-growth US ?rms. The
company also won our
inaugural 2014 VentureNEXT
Startup Award.
a company based on
self-expression, art, and
pop culture could attract
$4.25MM in venture capital?
What if...
TANISHA ROBINSON
Co-Owner
Print Syndicate
The Power of Angels
Angel investors are North America’s most
proli?c early stage investment class.
They support up to 90 percent of outside
equity raised by startups. And here at
Rev1, we can connect our startups with
more than 200 angel investors, through
our afliation with Ohio TechAngels and
X Squared Angels.
Last year Rev1 sponsored the Angel Capital
Association’s annual leadership workshop
drawing 200+ angel leaders to Columbus.
8
Print Syndicate
More at
bit.ly/rev1angels
Funding spinout technologies from our
world-class innovation partners.
There’s no known cure for muscular
dystrophy, but now with the help of Milo
Biotechnology there is new hope for
treatment.
Milo Biotechnology is delivering a promising
new gene-based therapy treatment for
muscular dystrophy and various other
muscular disorders. After a Phase I/II clinical
study was completed to establish the safety
and efectiveness for the therapy, we joined
forces with Nationwide Children’s to help
propel Milo Biotechnology into the next
phase of testing.
there was a gene therapy
that produced the ?rst-ever
treatment for an incurable
disease?
What if...
Our innovation partnerships are unique and positively impacting
commercialization in the region.
We work directly, day-to-day with our partners’ technology transfer and
commercialization teams. Together we identify innovative technologies, validate
potential markets and customers, and form and fund viable spinout companies. In
2014, we announced a landmark $8MM of investment funds to fuel these spinouts
and made three investments: Simple-Fill and ProteoSense—both from The Ohio
State University, and Milo Biotechnology—from Nationwide Children’s.
9
Milo Biotechnology
A spinout of
DEDICATED
INVESTMENT FUNDS
CREATED
POTENTIAL SPINOUTS
FOR REVIEW IN 2015
POWERFUL
PARTNERS
3
$8
25
MILLION
Simple-Fill is developing a new technology
that reliably and afordably compresses
natural gas to fuel cars and trucks. The
outcome may be a fuel that costs less than
$2.00 per gallon.
In 2014, the company achieved several
critical milestones. The most signi?cant was
successfully building and testing a full-scale
gas compressor with a relatively modest
increase in gas temperature. With this
milestone, the company is moving into pilot
testing with customers.
Simple-Fill received the ?rst investment
from the $1MM Technology Concept Fund,
LLC, a fund made possible through joint
investment by Ohio State and Ohio Third
Frontier and managed by Rev1 Ventures.
Rev1 and Ohio State’s Technology
Commercialization Ofce are working
proactively to identify additional
investment opportunities from market-
shifting companies like Simple-Fill.
you could harness a fuel that
takes you farther for less?
What if...
10
Simple-Fill
A spinout of
“If it takes a village to raise
a child, it certainly takes a
community to start a business.”
ROB UNDERHILL
CEO, Simple-Fill
ROB UNDERHILL
CEO, Simple-Fill
Connecting the broad
entrepreneurial community.
Damian Beauchamp, an Ohio native, chooses chemistry, attends in-state
schools, attracts early stage non-dilutive capital, and co-founds KAir
Battery with Dr. Yiying Wu, revolutionizing energy technology. Damian was
recognized with the 2014 VentureNEXT College Student Award.
Mariah Cox, a junior at Zane Trace High School in Chillicothe, OH, was also
a winner of the 2014 VentureNEXT Student Award. This summer she’ll be
going to Hyderabad, India on the prestigious Borlaug-Ruan International
Internship to work at The World Vegetable Center and conduct research.
These success stories highlight the amazing research, thinking, and vision
that students across Ohio are already displaying—stories that we’d like to
see happen over and over again.
In November we launched VentureNEXT, an annual event
that gathers the region’s top entrepreneurs, investors,
economic developers, and community leaders together for
a lively evening of connection and recognition.
Presented by
VentureNEXT celebrated the innovation ecosystem through
successes of startups and partners. We also awarded scholarships
to four students. Here are two of their stories.
11
Connecting with
Internationally Recognized
Angel Investors and
Entrepreneurs
In 2014, our roster included:
Rev1 Ventures is a catalyst for
connecting local entrepreneurs
with several of the most recognized
names in angel investing and
entrepreneurship.
The Speaker Series is one more
example of Rev1 making the right
connections at the right time.
SPEAKER SERIES
BILL PAYNE
Angel investor, mentor, advisor,
instructor, former CEO many
times over, and recipient of the
prestigious Hans Severiens Award,
the highest honor in angel investing.
BILL BOTTS
Angel investor; president, CEO,
director, and/or chair of more
than 45 public and private
companies, turnaround expert,
advisor to startups and early
stage companies.
BARRY MOLTZ
Angel investor, entrepreneur, author,
and advisor to entrepreneurs,
especially when they’re stuck.
12
We couldn’t have done it without
the support of our funding partners,
board, and team.
13
AEP
Ashland
AT&T
AWH
Battelle
Bricker & Eckler
Calfee, Halter & Griswold
Cardinal Health
Central Ohio Technical
College
City of Columbus
City of Dublin
City of Grove City
City of New Albany
City of Upper Arlington
City of Westerville
Columbus 2020
Columbus Partnership
Columbus State Community
College
Delaware County Bank
Diamond Hill
Fifth Third Bank
Franklin County
Huntington Bank
Ice Miller
Information Control
Corporation
JP Morgan Chase
Kegler Brown Hill & Ritter
L Brands
Motorists Insurance
Nationwide Insurance
Nationwide Children’s
Research Institute
Ohio Third Frontier
OhioHealth
Otterbein University
Porter Wright Morris & Arthur
Safelite
Sophisticated Systems, Inc.
Stonehenge Partners
The Columbus Foundation
The Dispatch Media Group
The Ohio State University
Thompson Hine
Tim Hortons
Vorys, Sater, Seymour
& Pease
Funding Partners
14
David Bergeron
SVP, Venture Development
Mike Blackwell
SVP, Entrepreneur Development
Kristy Campbell
Chief Marketing Ofcer
Rick Coplin
VP, Community Partner Ventures
Dave Dillman
CFO
Wayne Embree
EVP, Investments & Venture
Acceleration
Bethany George
Investment Analyst
Hannah Gray
Venture Analyst
Kathleen Green
Executive Assistant to President
& CEO
Ryan Helon
SVP, Investment Funds
Chip Holcombe
Development Director
John Hrivnak
Director, Rev1 Labs
Yvonne Katris
Accounting & Reporting Manager
Michael Kindrat-Pratt
Director, Ohio TechAngel Funds
Ron Landthorn
VP, Venture Programs & Rev1 Labs
Parker MacDonell
Managing Director, Ohio
TechAngels Funds
Ann Marks
Administrative Assistant
Mike McCann
Director, Strategic Ventures
Trevor McCool
Business Intelligence Manager
Clark McMahon
Digital Marketing Coordinator
Dan Meek
VP, Venture Development
Alicia Oddi
Director, Marketing &
Communications
Greg Pugh
SVP, Venture Acceleration
John Schroepfer
CFO in Residence
John Sydnor
SVP, Strategic Alliances & Venture
Acceleration
Matt Veryser
Venture Analyst
Tom Walker
President & CEO
Staf
Geof Chatas
The Ohio State University
SVP, CFO
Jon Eesley
Windsor Advisory Group
Principal
Harry Hallowell – Chairman of the Board
Nationwide Insurance
SVP, Chief Investment Ofcer
David Meuse
Stonehenge Partners
Principal
Susan Rector
Ice Miller
Partner
Timothy Robinson
Nationwide Children’s Hospital
EVP, Chief Financial
& Administrative Ofcer
Andy Rose
Worthington Industries
Executive Vice President & CFO
Mark Shary – Treasurer
Updox
Entrepreneur
Ray Shealy
Margaux Ventures, LLC
Founder & CEO
Pam Springer
SpringerNav
Founder & Partner
Brent Stutz
Cardinal Health, Inc.
Senior Vice President, Commercial
Technologies
Fuse by Cardinal Health
Blake Thompson – Secretary
The Ohio State University
VP, Government Afairs
Secretary of the Board of Trustees
Bruce Vanderhof
OhioHealth
Senior Vice President
& Chief Medical Ofcer
Caroline Whitacre
The Ohio State University
Vice President for Research
Board of Directors
1275 Kinnear Road
Columbus, OH 43212
614.487.3700
rev1ventures.com
Rev1 Ventures helps entrepreneurs build great
companies. With the capital of a VC and the
connections of an accelerator, Rev1 supports startups
through the ?rst phases of growth to increase their
probability of success. Rev1 manages a continuum of
investment funds made possible by the participation
of Ohio Third Frontier and other strategic partners.
Rev1 collects data based on industry best practices
which involves portfolio company reported data
twice per year, third-party resources and internal
information for the ?gures used throughout this
report. For more information, visit rev1ventures.com.
Printing courtesy of
Chemical Abstracts Service
@Rev1Ventures
doc_278951096.pdf
In this particular detailed description with regards to exciting time to be part of the central ohio entrepreneurial community.
2014 Annual Report
TOM WALKER
President & CEO
HARRY HALLOWELL
SVP, Chief Investment Ofcer
Nationwide Insurance
Chairman of the Board, Rev1 Ventures
2014 WAS AN AMAZING YEAR
for Rev1 Ventures and an exciting time to be part of the
Central Ohio entrepreneurial community.
The year was about connectivity and collaboration. One of
our portfolio clients said it best, “If it takes a village to raise
a child, it certainly takes a community to start a business.”
Rev1 Ventures has been a catalyst, connecting
entrepreneurs to the expertise and capital that they
need to succeed. In 2014, we completed the build-out
of our team. We announced a rebrand that re?ects
our dedication, as a fast-paced venture development
organization, to a laser-like focus on startup success. We
launched a series of new investment funds totaling $22MM.
From the Ohio Third Frontier, to the outstanding
corporations and service providers headquartered here, to
our remarkable research institutions, this region has
rallied around entrepreneurs in uniquely meaningful
ways. It’s unprecedented in the region and even in the
country, and so unique that we’ve coined a special
name. We call it the “backyard efect.”
Thanks to Central Ohio for creating this backyard
efect between corporations, service professionals,
and research institutions, and the outstanding
entrepreneurs of this region as together we build
successful new companies.
This annual report re?ects the accomplishments, not
of a single organization, but of a community that is
dedicated to accelerating innovative new businesses.
1
$
187
MILLION
CAPITAL
ATTRACTED TO THE REGION
1,004
JOBS CREATED
AND RETAINED
WITH REV1 ASSISTANCE
$
156
MILLION
REVENUE
GENERATED BY
PORTFOLIO COMPANIES
$
109
FOLLOW-ON
MILLION
FUNDING SECURED BY
PORTFOLIO COMPANIES
2014 Startup Impact
Our Mission: Helping entrepreneurs build great companies
Innovation Mix
2
191% increase over 2013
33% increase over 2013
157% increase over 2013
MINORITY-LED
4X the national average
WOMEN-LED
17% 22%
IT/Software
Life Sciences
Other Tech
54% 14%
32%
169
ASSISTED
COMPANIES
WITH FUNDING
OR BUSINESS SERVICES
PROFESSIONAL ADVISORS
Startups who achieve success in Concept
Academy are paired with a Rev1 Advisor on
our team—all of whom have built, sold, or
invested in high-growth ?rms—to work hand-
in-hand to build working prototypes and
secure ?rst customers.
Traditional wisdom says: Entrepreneurship begins with a great idea, and
funding leads to customers. We say it’s the opposite—customers come ?rst.
That’s why our process starts with an approach that requires validating
markets before anything else.
Building great companies starts with
products people want.
CONCEPT ACADEMY
Startup success begins here. Launched in
mid-2014, Concept Academy is an intensive,
three-day program that provides simple and
powerful tools to interact with customers
and achieve market validation.
3
More at
bit.ly/rev1ca
STARTUP
CLIENTS
BECAME REV1
RAISED
BY CONCEPT ACADEMY
GRADUATES
COMPANIES GUIDED THROUGH
VALIDATION
PRODUCT
146
30%
$4.8
MILLION
Concept Academy Year 1 Results
REV1 LABS
There’s no better place than our internationally
ranked facility to fuel early success. This
unique space gives our more than 40
startups daily access to venture advisors and
professional industry experts. Being a resident
speeds both product iteration and time to
funding. In 2014, residents raised $1.07MM on
average, 2.7 times that of non-resident ?rms.
Real estate agents can promote their listings on
Facebook a thousand diferent ways. SocialMLS
completely automates the listing process and
connects the home seller’s Facebook network
to drive neighbors, friends, and family (and
their networks) to the agent’s listings online.
Founder Chris Sauerzopf had already taken a
run at launching SocialMLS when he signed
up for Concept Academy. He had correctly
identi?ed his target market and their problems,
but his plan wasn’t fully aligned with the needs
of the customers he hoped to serve.
“As an entrepreneur, it
becomes easy to operate
inside a vacuum. To have
Concept Academy help
me create solutions for my
potential target users—for
them and not for me—was
incredibly bene?cial. With
Concept Academy, I saved
time and energy identifying
what my audience was
really looking for instead of
developing concepts for me
and not for my client.”
CHRIS SAUERZOPF
Founder, SocialMLS
real estate agents could
leverage Facebook to better
promote their listings?
What if...
RANKED
#
3
IN THE WORLD
REV1 LABS
4
WAYNE EMBREE
EVP, Investments & Venture Acceleration
Rev1 Ventures
“We are working with entrepreneurs who
are so efective at market validation that
customers have signed up and written
checks before the prototype is built.”
More at
bit.ly/rev1labs
SocialMLS
The right connections at the right time
solve critical startup challenges.
That’s why in 2014 we launched a powerful program to harness the assets in our own
backyard. We call it First Connect and it helps startups secure expertise in these four
critical areas: strategic advisors, industry experts, customers, and talent acquisition. In
2014, we rolled out Advisors, Experts, and Customers, and designed Talent to be rolled
out in 2015. Seventy-?ve percent of our startup clients leveraged the network in its
?rst year.
5
First
Connect
Network
STARTUPS
T
A
L
E
N
T
E
X
P
E
R
T
S
C
U
S
T
OM
E
R
S
A
D
V
ISO
R
S
45
29
BROUGHT
VENTURE FOR
AMERICA
TALENT PROGRAM
TO COLUMBUS
COMPANIES
SECURED TO
PROVIDE MARKET
VALIDATION
EXPERTS
SECURED
TO SUPPORT
STARTUPS
101
PROFESSIONAL
ADVISORS SECURED
TO SUPPORT
STARTUP SUCCESS
More at
bit.ly/rev1talent
As a part of our First Connect program,
Clarivoy was introduced to M/I Homes, a
national leader in the new home building
industry. After Clarivoy helped optimize their
TV advertising, M/I Homes saw a 189 percent
increase in website visits attributable to TV.
“The access that Rev1 was
able to provide was huge.
They had already built this
network of people that they
knew they could call on.
Now we can get to work and
focus on growing
the business.”
STEVE WHITE
Founder & CEO, Clarivoy
TV advertisers could use data
to know exactly where to
advertise on television?
What if...
6
Clarivoy
CUSTOMERS
EXPERTS
ADVISORS
AT&T
AWH
Battelle
BioOhio
Cardinal Health
CareWorks
Central Ohio Primary Care
City of Westerville
Clutch Interactive
Columbus Metropolitan Library
Donatos
Grange Insurance
GSW/inVentiv Health
Lawrence Evans and Associates
M/I Homes
Advisory and Consulting Services
AWH
Bailey Cavalieri
Barnes & Thornburg
Base Two
BDO
Blue Sky
Brand Stamp
Bricker & Eckler
Buckeye Interactive
Calfee, Halter & Griswold
Carlile Patchen and Murphy
Chepri
Dickinson Wright
GBQ
Hennis, Rothstein & Ellis
Highbar Agency
HW&Co
Ice Miller
John Gerlach & Company
Kegler Brown Hill & Ritter
Paytime
Porter Wright Morris & Arthur
Prototype1
QStart Labs
Rave
Redwood Innovation Partners
Schifman | Grow & Co.
Sequent
Sway the Crowd
Taft Stettinius & Hollister
Taivara
TestDouble
The Floriss Group
Thompson Hine
UpSourced Accounting
VisionSpark
We Create Goodness
ZoCo Design
MindsOn
Motorists Insurance
Mt. Carmel
St. Anne’s Hospital
Nationwide Children’s
Nationwide Insurance
NCT Ventures
OhioHealth
Orthopedic One
OSU James
OSU Wexner
Safelite
State Auto
Worthington Industries
Startups need customers to succeed. Through
First Connect we secured access to these
world-class companies—eight of which became
customers to Rev1 clients in 2014.
Startups with strategic advisors are more successful.
We’ve gathered more than 100 of the most experienced
advisors who worked directly with Rev1 startup clients
to provide more than 520 hours of service.
Hand-picked industry experts provided our clients
with more than $775,000 in services in 2014,
helping them tackle their needs in legal, accounting,
HR, and more.
More at
bit.ly/rev1clarivoy
In 2014, Rev1 invested in 18 companies, making our seed fund
one of the most active in the Midwest. With $44MM under
management, we ofer startups a continuum of capital.
Rev1 Ventures became one of the
most active seed funds in the Midwest.
$1 MILLION
RAISED MORE THAN
IN FUNDING
20 COMPANIES
RECEIVED
A COMBINED
IN INVESTMENTS FROM REV1
$4 MILLION
COMPANIES
18
7
Here are some of the companies that received investment from Rev1 in 2014.
$
109
MILLION
IN FOLLOW-ON
FUNDING SECURED
BY PORTFOLIO COMPANIES
Print Syndicate is a Columbus-based design,
marketing, and technology company that ofers
consumers unique, well-designed products
based on the latest topics and trends. Think
cool t-shirts with a heavy dose of humor.
From 2012 to 2014, Print Syndicate had
to bootstrap operations. Three years, 100
employees, and $12MM in revenue later, the
company closed a $4.25MM Series A round
led by Data Point Capital in Boston. We co-
invested in that round with others, including
investors from DC and Las Vegas with
connections to ecommerce stars Zappos and
Groupon.
In 2015, Print Syndicate
was named to Forbes list of
America’s Most Promising
Companies, which features
one-hundred privately held,
high-growth US ?rms. The
company also won our
inaugural 2014 VentureNEXT
Startup Award.
a company based on
self-expression, art, and
pop culture could attract
$4.25MM in venture capital?
What if...
TANISHA ROBINSON
Co-Owner
Print Syndicate
The Power of Angels
Angel investors are North America’s most
proli?c early stage investment class.
They support up to 90 percent of outside
equity raised by startups. And here at
Rev1, we can connect our startups with
more than 200 angel investors, through
our afliation with Ohio TechAngels and
X Squared Angels.
Last year Rev1 sponsored the Angel Capital
Association’s annual leadership workshop
drawing 200+ angel leaders to Columbus.
8
Print Syndicate
More at
bit.ly/rev1angels
Funding spinout technologies from our
world-class innovation partners.
There’s no known cure for muscular
dystrophy, but now with the help of Milo
Biotechnology there is new hope for
treatment.
Milo Biotechnology is delivering a promising
new gene-based therapy treatment for
muscular dystrophy and various other
muscular disorders. After a Phase I/II clinical
study was completed to establish the safety
and efectiveness for the therapy, we joined
forces with Nationwide Children’s to help
propel Milo Biotechnology into the next
phase of testing.
there was a gene therapy
that produced the ?rst-ever
treatment for an incurable
disease?
What if...
Our innovation partnerships are unique and positively impacting
commercialization in the region.
We work directly, day-to-day with our partners’ technology transfer and
commercialization teams. Together we identify innovative technologies, validate
potential markets and customers, and form and fund viable spinout companies. In
2014, we announced a landmark $8MM of investment funds to fuel these spinouts
and made three investments: Simple-Fill and ProteoSense—both from The Ohio
State University, and Milo Biotechnology—from Nationwide Children’s.
9
Milo Biotechnology
A spinout of
DEDICATED
INVESTMENT FUNDS
CREATED
POTENTIAL SPINOUTS
FOR REVIEW IN 2015
POWERFUL
PARTNERS
3
$8
25
MILLION
Simple-Fill is developing a new technology
that reliably and afordably compresses
natural gas to fuel cars and trucks. The
outcome may be a fuel that costs less than
$2.00 per gallon.
In 2014, the company achieved several
critical milestones. The most signi?cant was
successfully building and testing a full-scale
gas compressor with a relatively modest
increase in gas temperature. With this
milestone, the company is moving into pilot
testing with customers.
Simple-Fill received the ?rst investment
from the $1MM Technology Concept Fund,
LLC, a fund made possible through joint
investment by Ohio State and Ohio Third
Frontier and managed by Rev1 Ventures.
Rev1 and Ohio State’s Technology
Commercialization Ofce are working
proactively to identify additional
investment opportunities from market-
shifting companies like Simple-Fill.
you could harness a fuel that
takes you farther for less?
What if...
10
Simple-Fill
A spinout of
“If it takes a village to raise
a child, it certainly takes a
community to start a business.”
ROB UNDERHILL
CEO, Simple-Fill
ROB UNDERHILL
CEO, Simple-Fill
Connecting the broad
entrepreneurial community.
Damian Beauchamp, an Ohio native, chooses chemistry, attends in-state
schools, attracts early stage non-dilutive capital, and co-founds KAir
Battery with Dr. Yiying Wu, revolutionizing energy technology. Damian was
recognized with the 2014 VentureNEXT College Student Award.
Mariah Cox, a junior at Zane Trace High School in Chillicothe, OH, was also
a winner of the 2014 VentureNEXT Student Award. This summer she’ll be
going to Hyderabad, India on the prestigious Borlaug-Ruan International
Internship to work at The World Vegetable Center and conduct research.
These success stories highlight the amazing research, thinking, and vision
that students across Ohio are already displaying—stories that we’d like to
see happen over and over again.
In November we launched VentureNEXT, an annual event
that gathers the region’s top entrepreneurs, investors,
economic developers, and community leaders together for
a lively evening of connection and recognition.
Presented by
VentureNEXT celebrated the innovation ecosystem through
successes of startups and partners. We also awarded scholarships
to four students. Here are two of their stories.
11
Connecting with
Internationally Recognized
Angel Investors and
Entrepreneurs
In 2014, our roster included:
Rev1 Ventures is a catalyst for
connecting local entrepreneurs
with several of the most recognized
names in angel investing and
entrepreneurship.
The Speaker Series is one more
example of Rev1 making the right
connections at the right time.
SPEAKER SERIES
BILL PAYNE
Angel investor, mentor, advisor,
instructor, former CEO many
times over, and recipient of the
prestigious Hans Severiens Award,
the highest honor in angel investing.
BILL BOTTS
Angel investor; president, CEO,
director, and/or chair of more
than 45 public and private
companies, turnaround expert,
advisor to startups and early
stage companies.
BARRY MOLTZ
Angel investor, entrepreneur, author,
and advisor to entrepreneurs,
especially when they’re stuck.
12
We couldn’t have done it without
the support of our funding partners,
board, and team.
13
AEP
Ashland
AT&T
AWH
Battelle
Bricker & Eckler
Calfee, Halter & Griswold
Cardinal Health
Central Ohio Technical
College
City of Columbus
City of Dublin
City of Grove City
City of New Albany
City of Upper Arlington
City of Westerville
Columbus 2020
Columbus Partnership
Columbus State Community
College
Delaware County Bank
Diamond Hill
Fifth Third Bank
Franklin County
Huntington Bank
Ice Miller
Information Control
Corporation
JP Morgan Chase
Kegler Brown Hill & Ritter
L Brands
Motorists Insurance
Nationwide Insurance
Nationwide Children’s
Research Institute
Ohio Third Frontier
OhioHealth
Otterbein University
Porter Wright Morris & Arthur
Safelite
Sophisticated Systems, Inc.
Stonehenge Partners
The Columbus Foundation
The Dispatch Media Group
The Ohio State University
Thompson Hine
Tim Hortons
Vorys, Sater, Seymour
& Pease
Funding Partners
14
David Bergeron
SVP, Venture Development
Mike Blackwell
SVP, Entrepreneur Development
Kristy Campbell
Chief Marketing Ofcer
Rick Coplin
VP, Community Partner Ventures
Dave Dillman
CFO
Wayne Embree
EVP, Investments & Venture
Acceleration
Bethany George
Investment Analyst
Hannah Gray
Venture Analyst
Kathleen Green
Executive Assistant to President
& CEO
Ryan Helon
SVP, Investment Funds
Chip Holcombe
Development Director
John Hrivnak
Director, Rev1 Labs
Yvonne Katris
Accounting & Reporting Manager
Michael Kindrat-Pratt
Director, Ohio TechAngel Funds
Ron Landthorn
VP, Venture Programs & Rev1 Labs
Parker MacDonell
Managing Director, Ohio
TechAngels Funds
Ann Marks
Administrative Assistant
Mike McCann
Director, Strategic Ventures
Trevor McCool
Business Intelligence Manager
Clark McMahon
Digital Marketing Coordinator
Dan Meek
VP, Venture Development
Alicia Oddi
Director, Marketing &
Communications
Greg Pugh
SVP, Venture Acceleration
John Schroepfer
CFO in Residence
John Sydnor
SVP, Strategic Alliances & Venture
Acceleration
Matt Veryser
Venture Analyst
Tom Walker
President & CEO
Staf
Geof Chatas
The Ohio State University
SVP, CFO
Jon Eesley
Windsor Advisory Group
Principal
Harry Hallowell – Chairman of the Board
Nationwide Insurance
SVP, Chief Investment Ofcer
David Meuse
Stonehenge Partners
Principal
Susan Rector
Ice Miller
Partner
Timothy Robinson
Nationwide Children’s Hospital
EVP, Chief Financial
& Administrative Ofcer
Andy Rose
Worthington Industries
Executive Vice President & CFO
Mark Shary – Treasurer
Updox
Entrepreneur
Ray Shealy
Margaux Ventures, LLC
Founder & CEO
Pam Springer
SpringerNav
Founder & Partner
Brent Stutz
Cardinal Health, Inc.
Senior Vice President, Commercial
Technologies
Fuse by Cardinal Health
Blake Thompson – Secretary
The Ohio State University
VP, Government Afairs
Secretary of the Board of Trustees
Bruce Vanderhof
OhioHealth
Senior Vice President
& Chief Medical Ofcer
Caroline Whitacre
The Ohio State University
Vice President for Research
Board of Directors
1275 Kinnear Road
Columbus, OH 43212
614.487.3700
rev1ventures.com
Rev1 Ventures helps entrepreneurs build great
companies. With the capital of a VC and the
connections of an accelerator, Rev1 supports startups
through the ?rst phases of growth to increase their
probability of success. Rev1 manages a continuum of
investment funds made possible by the participation
of Ohio Third Frontier and other strategic partners.
Rev1 collects data based on industry best practices
which involves portfolio company reported data
twice per year, third-party resources and internal
information for the ?gures used throughout this
report. For more information, visit rev1ventures.com.
Printing courtesy of
Chemical Abstracts Service
@Rev1Ventures
doc_278951096.pdf