RevRoad, a leading venture services firm headquartered in Provo, Utah, has successfully raised over $15 million in funding from private investors. This substantial investment, contributed by high-net-worth individuals, serves as a testament to the effectiveness of RevRoad’s service model in assisting growth-stage startups to achieve important milestones.
The current entrepreneurial landscape is facing unprecedented challenges, including rising interest rates, limited access to capital, and a greater aversion to risk. In light of these obstacles, the funding infusion received by RevRoad will support the expansion of the firm through additional hires, the opening of a new location in Florida, and the potential establishment of more locations in the future. These additional resources are dedicated to driving success for aspiring startups.
One of the notable benefits of partnering with RevRoad, according to AJ Brau, the founder of RevRoad portfolio company Wander, is the availability of experts during the early stages of a company. Brau emphasizes that, in addition to financial support, having flexible services on demand for two years has been a game-changer. Without RevRoad, Brau’s company would have only been able to secure around $500,000, which would likely have been depleted within two years. However, with RevRoad’s support, Wander has been able to stretch its resources further and continues to derive value from the partnership. What sets RevRoad apart, according to Brau, is their deep understanding of the business needs of their portfolio companies.
With over five years of supporting the entrepreneurial community, RevRoad has built a strong brand and reputation for empowering founders across the nation. The firm’s innovative approach has resulted in an impressive 81% success rate for the startups they have supported. To date, RevRoad has helped grow 73 companies, with a combined enterprise value exceeding $1.5 billion. The firm remains dedicated to giving back through community involvement and its nonprofit organization, which organizes rescue trips for refugees in Ukraine.
RevRoad’s Chief Financial Officer, Russ Monson, highlights that the recently acquired funds will be strategically allocated to grow the team and expand services to other states. With a recent presence established in Florida, RevRoad has plans for further expansion in the near future. The firm aims to work side by side with entrepreneurs, providing the necessary guidance and support to navigate the road to revenue.
This round of funding will enable RevRoad to fulfill its core purpose of supporting entrepreneurs and increasing the success rate of startups, with a focus on expanding services to other regions of the nation.
For more information about RevRoad and its services, please visit their website at www.revroad.com.
RevRoad is a venture services company that focuses on helping entrepreneurs succeed. By assembling a team of experts for up to 24 months, the firm empowers portfolio companies to accelerate their time to market, maximize profitability, and establish a solid foundation for their venture. RevRoad further supports startups through its sister company, RevRoad Capital, a traditional venture capital firm that provides funding to companies both inside and outside the RevRoad portfolio. To learn more and apply for the venture services program, visit revroad.com.
