Written by Jerred Ziegler.
This rebranding comes at an exciting time for Rev1, with plans in the works to increase the amount of investments to startups by 40 percent in 2015. This jump in funding will move Columbus closer to the top of the country’s most active seed regions, and falls in line with Ohio Third Frontier’s push to grow the state’s technology economy by funding entrepreneurs, startups and early-stage businesses in Ohio.
Rev1 portfolio companies will ultimately be the ones to benefit from the increased investment funding. These companies depend on Rev1 for financial support during the all-important first phase of growth as new startups. A successful first round of funding greatly improves these entrepreneurs’ chance for success.
Ray Shealy, executive chairman of TicketFire, knows exactly how important funding is for a new startup. He started TicketFire in Columbus in 2012 and received an early investment from Rev1’s former namesake, TechColumbus. TicketFire is a mobile app that converts PDF or paper tickets into a digital form, allowing users to access them on their phones or easily message the tickets to others.
“That initial investment allowed our company to build the TicketFire technology platform and led to later additional investments that assisted our growth and tech buildout,” said Shealy.
Rev1’s approach is all about firsts – hence the placement of the number one in their name. The organization’s goal is to help entrepreneurs master their first milestones – from their first investment to their first customer, and everything that happens in between. Rev1 helps startups form strong foundations to build successful businesses by connecting them with the appropriate tools and resources.
“We want to help our startups identify the market that they’re trying to infiltrate and give them the knowledge, capital and mentorship they need to succeed,” said Tom Walker, president and CEO of Rev1.
Rev1’s focus has always been on helping entrepreneurs develop products and companies that people want and the market can support.
“We push our entrepreneurs to really take the time to decide if their company is valuable to consumers,” said Greg Pugh, senior vice president of venture acceleration at Rev1. “You should be creating something so valuable that someone would invest in your business based on the idea alone.”