In the News
July 23, 2014 - USA Today - For as long as I have been involved with start-ups, it has been an article of faith among entrepreneurs and investors that Silicon Valley is where you go to start the next billion-dollar technology company. There is no contesting that when it comes to cultivating a successful entrepreneurial ecosystem, Silicon Valley is the pride of America and the envy of the world. But there is another side to this story, what I have routinely referred to as the "Rise of the Rest" — the belief that while Silicon Valley will remain dominant for the foreseeable future, new start-up ecosystems will emerge all across the country and the geography for high-growth entrepreneurship in America will itself be disrupted.
July 22, 2014 - Washington Business Journal - No surprises here: Steve Case and Ted Leonsis are the most influential D.C. tech investors on Twitter, according to social media Analytics firm StatSocial. StatSocial's annual top 1,000 ranking, localized here by Herndon-based mobile development shop 10Pearls, places Case's Twitter handle at No. 11, with more than 660,000 followers and a "pull" of 46 million. Pull, according to StatSocial, is a measurement of not just how many followers an account has, "but also how well-connected those followers are." Leonsis comes in a No. 79, with more than 37,600 followers and a pull of 7.1 million.
July 22, 2014 - InTheCapital - Airbnb will exclusively partner with D.C. venture capital backed startup Handybook, for its discounted cleaning services program. When we last reported on Handybook it had just closed a $30 million round of funding led by the D.C.-based Revolution Growth venture capital group. It's home repair and maintenance by app, basically an Uber for getting your home fixed, drew plenty of investors and interested partners, including Airbnb. Both Handybook and similar startup Homejoy participated in the Airbnb program, but now Airbnb has ended its deal with Homejoy, leaving Handybook the sole partner in its program.
July 22, 2014 - Forbes - Steve Case, former CEO of AOL AOL -1.3%, is looking for new startups to invest in but he’s not headed to Silicon Valley. This summer, he visited Cincinnati, Detroit, Pittsburgh, and Nashville on a bus tour aptly called “The Rise of the Rest.” What he found, he says, is a resurgence of American entrepreneurship and venture capitalists, who are glued to the Valley, should perk up. Opportunities abound in the heartland. Last week, I spoke with Case about what the Valley is missing out on and how entrepreneurship in America’s “other” cities is gaining traction.
July 16, 2014 - Forbes - Along with his team at Revolution, AOL founder Steve Case has been championing companies like these through his recent “Rise of the Rest” campaign. Mr. Case hasn’t just talked about the need to empower America’s entrepreneurs between the coasts; he’s lived it out and he’s led the way. He recently completed a 1,000-mile bus tour of Detroit, Nashville, Pittsburgh, and Cincinnati, where he invested $100,000 in the top startup in each community. We’re inspired by his example, and we’re hopeful that as government, business, and civic leaders outside of Silicon Valley build up their local entrepreneurial communities, something new is starting to happen. These leaders are beginning to shift their focus away from the high-tech pipe-dream of being the next Silicon Valley; instead, they’re supporting the American Dream, by bolstering entrepreneurs who are solving the problems that impact all of us.
July 10, 2014 - Washington Business Journal - When Internet technology met travel, their first date was in the air. Expedia, Priceline and others upset the airlines' apple cart with online ticket sales. Trains, hotels and rental cars quickly followed suit. Recently, Uber, Lyft and others have started disrupting the taxicab industry with technology. Now, high-tech is ready to revolutionize bus travel. Who better to do it than D.C.-based Revolution?
July 9, 2014 - WSJ.D - Busbud Inc. has raised $9 million in new venture funding to become the mobile app of choice for world travelers who need to find and book intercity trips by bus. Plenty of travel tech ventures have sprouted up over the years, but most have helped shoppers to find and buy higher-priced services like hotel rooms, plane tickets or rental cars, said Busbud co-founder and Chief Executive LP Maurice. Revolution Ventures and OMERS Ventures led the Series A investment in Busbud, joined by the company’s earlier, seed backers iNovia Capital and Real Ventures. Busbud raised $1.2 million in seed funding in May 2013.
July 9, 2014 - The Washington Post - District-based investment firm Revolution said Wednesday it is putting money behind an online portal where globe-trotters can peruse bus schedules and purchase bus tickets to cities such as Munich, Rio de Janeiro and San Francisco. The $9 million investment in Montreal-based Busbud was co-led by Revolution and the Ontario Municipal Employees Retirement System, a Canadian pension fund. Previous investors in the company contributed to the round as well.
July 9, 2014 - TechCrunch - Global coach travel-booking platform Busbud has closed a $9 million Series A funding round co-led by Omers Ventures and Revolution Ventures. iNovia Capital and Real Ventures also participated — having co-led Busbud’s prior round of $1.2 million back in May 2013. At the time of that seed round we described Busbud as a ‘Kayak for intercity bus travel’.
July 9, 2014 - Reuters peHUB - According to a blog post on its site, Busbud has raised $9 million in Series A funding. OMER Ventures and Revolution Ventures led the round with participation from iNovia Capital and Real Ventures. Based in Montreal, Busbud helps users book bus travel. To read the announcement, visit here.
July 9, 2014 - Tech Cocktail - The bus booking platform Busbud announced this morning that it has closed a $9 million Series A round of funding. The round was co-led by Revolution Ventures and OMERS Ventures. Other participants in the round included iNovia Capital and Real Ventures, both of which led Busbud’s $1.2 million seed round back in May 2013. “Busbud solves a real problem for international travelers looking to find the best way to get from point A to B,” said David Golden, managing partner at Revolution Ventures.
July 9, 2014 - VentureBeat - Montreal-based bus-ticket booking company Busbud has pulled in $9 million in a Series A round of funding, it announced today. Busbud allows travelers to find bus operators in their area and buy tickets through Busbud.com or its free mobile app. LP Maurice, a Harvard Business School graduate, came up with the idea for Busbud in 2011 and started the business with friends Mike Gradek and Frederic Thouin. The funding round was led by OMERS Ventures and Revolution Ventures, venture capital investment firms.