Revolution Ventures

Revolution Ventures

A venture capital and private equity firm primarily making early stage investments in technology companies.

Revolution Ventures is a venture capital and private equity firm primarily making early stage investments in technology companies that is headquartered in Washington, D.C. and was founded in 2005 by Steve Case, Tige Savage and David Golden. The firm typically makes initial investments of $4-8 million in early stage companies, typically leading series A investment. Notable investments made by Revolution Ventures include: NR2B Research, SmartDrive, Nextivity, Quantcast, Resonate, BenchPrep, FedBid, InGameAd, Sweetgreen, Symwave, and Starscriber.

Investment funds

Revolution Ventures fund I

On September 30, 2013 Revolution Ventures announced completing raising funds for their first venture capital fund. The company raised a total of $200 million in capital which surpassed the companies goal of $150 million. The co-founder of Revolution Capital, Steve Case, made the following statement regarding Revolution Ventures raising their first fund:

While we’re big fans of Silicon Valley, we’ve long believed that a lot of great entrepreneurs and great young companies can also be found outside of Silicon Valley. With the launch of the Revolution Ventures fund, we’ll be able to deploy early stage capital to help entrepreneurs build great companies in promising new regions that are overlooked by most venture capitalists.

Rise of the Rest Seed Fund

On December 5, 2017 Revolution Ventures announced raising $150 million for the Rise of the Rest Seed Fund which will focus on making seed stage investments. The fund will be lead by Hillbilly Elegy and will have help from the Revolution Ventures partners Anna Mason and David Hall. The firm is seeking to partner with regional investors and does not seek to use their Rise of the Rest Seed Fund to lead seed rounds. In a blog post announcing the fund, Steve Case, wrote about the types of companies Revolution Ventures is looking to make seed investments in by writing:

I’m thrilled so many successful leaders see the same opportunity we do: that investing in the future outside of the coastal tech corridors isn’t just the right thing to do, it’s the smart thing to do.

Investors contributing capital to the Rise of the Rest Seed Fund include: Jeff Bezos, Sara Blakely, Tory Burch, Dan Gilbert, Ted Leonsis, Sheila Johnson, Joe Mansueto, Sean Parker, Eric Schmidt, Howard Schultz, Romesh Wadwhani, Jim Breyer, John Doerr, Ray Dalio, William Davis, Henry Kravis, Michael Milken, Adebayo Ogunlesi, David Rubenstein, Byron Trott, Jeff Vinik, Meg Whitman, and members of the Koch, Pritzker, and Walton families.

Revolution Ventures fund III

On September 18, 2019 Revolution Ventures completed raising capital for their third venture capital funding with $215 million in funding. The company plans on using the fund to continue to primarily make investments in companies operating in locations outside of typical areas with high startup activity such as San Francisco and New York City. Steve Case, a co-founder and managing director of Revolution Ventures, commented on the companies success investing in companies operating outside of areas with high startup activity after announcing the company's third fund by saying:

We were not seated in Sand Hill Road so we knew we would have to get on airplanes. hen we looked back and realized we drove the greatest returns in these off the beaten path geographies.

Timeline

Funded Companies

Company
Description
Website
Industry
Location
Insikt (Aura)

Insikt is a San Francisco-based company.

Financial services
Financial technology
San Francisco
75F

A technology company offering an internet of things (IoT) building automation system for HVAC, lighting, and equipment control.

Software
HVAC
Energy efficiency
Internet of things (IoT)
Burnsville, Minnesota
Resolute Innovation

Resolute innovation is a marketplace platform for connecting universities and research institutions with corporate partners.

Research and development
San Francisco
New York City
Bright Cellars

Bright Cellars is a monthly wine club that matches customers with wine according to their preferences.

E-commerce
Social commerce
Wine and Spirits
Milwaukee
Trust & Will

Trust & Will is a San Diego-based company founded by Cody Barbo, Brian Lamb and Daniel Goldstein.

Estate planning
Legal technology
San Diego
BenchPrep

BenchPrep is a Chicago-based company founded by Ashish Rangnekar.

Education
Higher education
Website
Training
Learning
Game mechanics
Educational technology
Test preparation
Marketplace
Chicago
Talkspace

Online therapy company

Psychology
Psychotherapy
Health
Healthcare
Behavioral sciences
New York City
Paro.io

Paro.io is a Chicago-based company.

Accounting
Finance
Financial services
Business analytics
Chicago
PartySlate

Company

Planning
Event management
Chicago
Backlot Cars

Company

Kansas City, Missouri
Quantcast

Quantcast is a San Francisco-based advertising company.

Advertising
San Francisco
Bloomscape

House plant company

Floral industry
Home & Garden
Direct-to-consumer
Detroit
SmartDrive Systems

SmartDrive Systems is a San Diego-based company.

San Diego
Summersalt

Summersalt is a St. Louis-based company.

Fashion
Clothing
Designer
St. Louis
Guardhat

Guardhat is a Detroit-based company.

Industrial
Internet of things (IoT)
Occupational safety and health
Detroit
Understory (understory weather)

Understory is a Madison, Wisconsin-based company.

Madison, Wisconsin
UbiquitiLink

Company

Space industry
Internet of things (IoT)
Telecommunication
Commercial real estate
LiveSafe

LiveSafe is an occupational safety and health company.

Occupational safety and health
Booker

Company

Commerce
Service (economics)
Embedded software
Glow Technologies

Framebridge

Framebridge is an e-commerce company.

E-commerce
newBrandAnalytics

Company

GramercyOne

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Associated investment funds

Investment Fund
Total offering (USD)
Total sold (USD)
Location
Date signed
Revolution Ventures II, LP
150,000,000
Washington, D.C.
June 28, 2013
Revolution Growth III, LP
450,000,000
Washington, D.C.
June 1, 2015
Revolution Ventures III, LP
200,000,000
Washington, D.C.
November 8, 2018
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People

Name
Role
LinkedIn

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Kate Clark
September 18, 2019
TechCrunch
Revolution Ventures raises another $215 million to invest outside of the hotbeds.

References

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