2018 was a banner year for the RevUp family. Three top line things we're pleased to report:
1. On average, our portfolio companies increased revenue by 2.7X since their RevUp investment. Growth came from many places—new product launches within our e-commerce portfolio, key account expansions for our B2B and SaaS companies, and serious moves in customer acquisition across the board.
2. Diversity builds high-performing companies that make more revenue. In 2018, 60% of companies entering the RevUp portfolio had diverse C-Suite / founding teams. We are pleased to join a growing community of investors committed to increasing diversity.
3. The best news comes directly from the terrifically talented companies in the RevUp portfolio. A few highlights:
Nested Bean shipped more than 250,000 units, bringing sweeter infant sleep to more families than ever before.
Global Data Consortium’s Worldview platform electronically verified the identity of over 20M individuals and businesses in 40+ countries.
Felix Gray launched prescription lenses and sunglasses, giving this fast growing ecommerce brand a bump into the stratosphere.
MarketMuse tripled their growth, signed a dozen new Fortune 500 customers, and capped the year with a successful fundraise to accelerate scale.
Recur Outdoors launched a new line of rods and reels to complement their already robust fly fishing subscription for millennial anglers.
Wicked Good Cookies shipped nearly 600K customized logo cookies to brands including MTV, ESPN, Boston Celtics, New England Patriots, athenahealth, Harvard, MIT, NBC Sports.
Cortex partnered with Getty Images, the world’s largest repository of stock images, to bring their platform for improving visual intelligence to Global 5000 brands.
Audio sound gurus RF Venue went next level with major distribution deals with the largest professional manufacturers and distributors.
Literacy champs Beanstack served 800+ public libraries and some of the nation’s largest school districts AND launched a successful nationwide reading challenge with ally and investor Mark Cuban (who knew Mark was a literacy advocate??).
***Growth Team Star Moments***
Nothing unlocks potential like the combination of cash and capacity. That’s why RevUp pairs cash investment with a science-driven process to accelerate growth AND the human resources to get it done. Working with company founders, the Growth Team identifies and executes on a set of revenue-boosting growth experiments, working with each company for ~12 months post investment.
BIG props to Growth Team Leaders Micaela Kamp, Nick Lee and Nikhil Arora for making some of these magical things happen:
Achieved first order profitability and scaled new customers for a B2C mobile app by redesigning the paid social funnel and the new user onboarding experience
Added 20% new revenue for a B2B company by adding campaigns for “micro-verticals” like real estate, hotels, and university life with specifically targeted content
Doubled revenue and maintained a 7x Return on Ad Spend for a B2C content company by widening ad distribution across Facebook, Instagram, and YouTube paid video
Increased revenue by 50% from small buyers for a B2B company by building a customer funnel that provided self-education and product selection without requiring a human
What’s on Deck for 2019?
Look Out, Atlanta!
Earlier this winter, RevUp Managing Director Melissa Withers had the good fortune to spend some time with Atlanta-based entrepreneur and investor David Payne. David just recently took the reins as Managing Director of TechStars Atlanta. David’s enthusiasm for the region was reason enough to plan a visit! We’ll be there in March 6-8 to meet some companies and get to know the scene. Stay tuned for deets.
The end of 2018 was busy, but we managed to sneak in a final investment before the holiday break. We are pleased to welcome Pittsburgh-based Treatspace into the RevUp portfolio! Treatspace improves patient engagement for doctor’s offices before and after visits by providing a better online front door, as well as reputation and referral management.
Closing the Opportunity Divide
RevUp MD Melissa Withers is running the 2018 Boston Marathon for an incredible organization called Year Up. Year Up works to close the Opportunity Divide that’s crushing our country’s youth and threatening our economy. How? By helping young people get the skills and support they need to embark on a successful career. Year Up has made an incredible impact on our nation’s young people, serving more than 20,000 youth with life-changing training and supports since launching in 2000.
Setting the Tone for the Year Ahead
The discussion around non-equity funding and the need to broaden the dialogue reached new heights in 2018. Last month we published material from a talk we have been giving recently on Why Equity Only Thinking is Bad for Business. If you missed it, you can read it here.
Thanks to Our Investors
RevUp wouldn’t exist without our investors, who from the beginning have been amazing champions of the model. As we prepare to close our newest fund, we are thrilled to welcome a group of new investors to the already-stellar group that have funded our investments to date. Thanks to all of you and here’s to another year of great founders, great companies, and great returns!
More About RevUp Capital
RevUp Capital is a non-equity investment fund for companies moving fast up a revenue-driven growth curve. The RevUp platform pairs cash investment with a science-driven process to turbo charge growth and the tools and human capital to get it done. Core to this capacity is our in-house growth marketing team, which we deploy to our portfolio companies in tandem with our cash investment for ~12 months post investments. RevUp is led by an experienced team with 130+ investments under management. The RevUp fund currently has active investments in Boston, NYC, Pittsburgh, Washington, DC, Baltimore, and recently expanded to Raleigh N.C.
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