News Roundup – Rev1 Impact Report, OTAF Launches New Fund & More

Photo by Walker Evans.

From new funds to awards, much has been happening in the small business and startup community in Columbus. Find out the latest from some of the entrepreneurs and organizations that are giving Columbus a name as a startup city.

2015 Rev1 Impact Report 

Earlier this month, Rev1 Ventures presented the results of another big year of work with Central Ohio’s startups. As a seed-stage venture development firm, Rev1 provides the capital and other services a startup needs at its early stages to validate its market and position itself for growth potential.

The organization was recognized as the #1 Seed Fund in the Great Lakes Region by PitchBook with 45 deals since 2012. In second place was Chicago-based Pritzker Venture Capital Group with 35 deals.

In 2015 alone, Rev1 increased its number of investments by 62 percent, securing 29 investments totaling $4.4 million.

Rev1-assisted companies are making an impact in the region, by:

  • Attracting $96 million of capital
  • Generating $162 million in revenue
  • Securing $83 million in follow-on funding
  • Creating and retaining 1,069 jobs

Rev1-assisted companies saw their own success as well. Three businesses that have leveraged Rev1’s services landed in the top 1000 of the Inc. 5000 – Updox at 524, Plug Smart at 339 and Capture Education at 295.

Numbers alone show the power of Rev1’s network and its ability to provide a startup more than just capital. Since program launch, experts have provided $2 million in discounted service and advisors have donated 1,500 plus hours of time.

Click here to read the full report.

OTAF Launches Fifth Fund

Rev1 made another announcement in June that will serve to only further its impact. Ohio TechAngel Funds, a Rev1 managed fund, launched its fifth fund with $5.1 million in commitments. The early-stage fund is one of the largest in the U.S. and has invested in 50 companies that have gone on to raise an additional $500 million in capital with five exits.

“Thanks to our alignment with Rev1, we’re seeing very high-quality deal flow,” says OTAF Managing Director Parker MacDonell. “Companies are coming to us with proven concepts, a market need, and a clearer pathway to a sustainable, high-growth business. OTAF’s unique approach to early-stage investing combines Rev1’s strengths with the wisdom of the crowd to help minimize financial risk for investors while maximizing opportunities for growing companies in our region.”

OTAF primarily invests in Ohio-based companies that are built around intellectual property in information tech, life sciences or advanced materials.

Click here for more information on OTAF.

Whaling Honored with EY Entrepreneur of the Year Award

Head of boutique PR firm Geben Communications, Heather Whaling was recognized as one of the Ohio Valley Region’s EY Entrepreneurs of the Year in the professional and consumer services category.

“I’m incredibly honored to receive this award,” Whaling says. “But, truthfully, it has very little to do with me and everything to do with the people I work with every day. I’m so grateful to Team Geben, and our clients.”

The award recognizes the endeavors of exceptional entrepreneurs creating the products and services that keep the economy moving forward. Whaling was also the youngest and only female winner of the evening.

Additional winners from Columbus include Bill Hardy from Equitas Health and Andy Joseph from Apeks Supercritical.

Click here for more on the program and 2016 winners.