Columbus startup studio Rev1 Ventures has surpassed $4 billion in total economic impact after a historic year, the organization noted in releasing its 2021 Impact Report.
Rev1 generated $1.1 billion in total impact (Revenue + Capital + Exits) in 2021, bringing its nine-year total to $4.1 billion.
“2021 was a year of business expansion and change,” the report said. “Our portfolio companies excelled. Our investment business is positioned for strong growth, including a pipeline of exciting exits.”
For 2021, Rev1 reported:
$136 million in client revenue
$278 million in capital raised by client companies
$725 million in client exits
27 companies funded
955 jobs created and retained
$106,000 average salary among clients
In the report, Rev1 also discussed broader trends, including the labor market: “Like many other firms, we were not immune to colleagues approached by new opportunities. We have welcomed a wave of new talent internally and celebrate the expansion of entrepreneurial talent across the region.”
The organization called attention to its diversity efforts, noting it received a related U.S. Economic Development Administration grant.
“An exciting wave of diverse entrepreneurs are seeking to commercialize technologies and launch new scalable businesses here,” the report reads. “With amazing progress in the Innovation District and accelerating corporate innovation among our partners, we are proud to continue as a cornerstone of an entrepreneurial ecosystem that continues to grow.
“Inclusion starts at home. Diverse teams deliver better financial results. Inclusive entrepreneurship begins with each of us personally and grows as we expand to grassroots organizations and associations with density in women and minorities, matching action to intentions.”
Last year, Rev1 introduced $30 million in new capital to support startups and attracted 40 new clients to its startup studio: “Our newly engaged companies are tackling solutions to some of the world’s biggest opportunities, from information technology and telemedicine, to environmental sustainability, consumer goods, and more.”
During the six years from 2013 to 2018, Rev1 recorded $2 billion in economic impact but took only half that time to record another $2 billion from 2019 to 2021.
The full report is available here.
In notable developments this year, Rev1 partnered with the Central Ohio Transit Authority to find and support emerging transportation technologies.