This excellent article from The Economist really captures the history and magnitude of the opportunity. At Revolution, we have been investing in the sharing economy since well before there was such a term. Indeed, by many accounts we were the first institutional investor to identify and invest specifically in the category, backing early winners su
This year Revolution embarked on its first two “Rise of the Rest” road trips, centered around nine Midwest cities to celebrate the rise of entrepreneurship across the United States and meet with entrepreneurs and other leaders building these communities.
At the beginning of the year, we predicted that the “Rise of the Rest” would accelerate with record increases in venture capital investments going to cities outside of Silicon Valley, and we continue to see and experience this momentum:
It was just a little more than a year ago that Steve Case, David Golden, and Tige Savage announced the close of the $200 million Revolution Ventures fund, dedicated to investing in high-growth potential early-stage companies. Fast forward to today, and our portfolio consists of several exciting young companies working to disrupt significant markets, from travel to financial services, real estate, and e-commerce.
It has been a productive and memorable year. In 2014 we added Revolution Foods and Handy to our expanding Revolution Growth portfolio, and made several follow on investments in our portfolio. The team, led by Steve Case, Donn Davis, and Ted Leonsis, continues to focus its efforts on finding and investing in a select number of innovative, high-growth companies, and building the existing companies in the portfolio. Our strategy remains one of focus, and we enjoy spending time with each company as they grow and find new approaches to disrupt large industries.
Revolution & the Venture Capital Industry in 2014
As we reflect back on 2014, it goes without saying that it was an excellent and rewarding one for our firm and partners, as well as a big year for the venture capital industry. According to data from the National Venture Capital Association and PricewaterhouseCoopers venture capitalists invested $48.3 billion in U.S. startups last year, the most since 2000.
Another exciting development for one of our newest Revolution Ventures investments OrderUp!
Congratulations to our own Steve Case who was recognized as one of the ‘Most Admired CEOs’ within the region last week at the Washington Business Journal’s annual recognition for the best and brightest in business. We were thrilled to also see several other noted Washingtonians among the ranks for ‘Most Admired CEO’, including José Andrés of ThinkFoodGroup, Timothy Chi of WeddingWire Inc., Seth Goldman of Honest Tea, and Nicky Goren of The Meyer Foundation.
This morning, one of our Revolution Growth portfolio companies announced a huge milestone – $50 million in Series C funding led by Kleiner Perkins Caulfield & Byers (KPCB) with co-investment from Generation Investment Management (Generation). We also participated in this round that included other local D.C. area venture capital firms Grotech Ventures and SWaN and Legend Venture Partners.
Congratulations are in order for Revolution Growth portfolio company CustomInk, who was named to FORTUNE magazine’s Top Retail Workplaces! Thanks to their emphasis on keeping their 1,113 employees healthy and happy on the job, they are the only Washington, D.C.-area company to make the list. This isn't the first time CustomInk has scored big on employee satisfaction; they were recognized in 2010, 2011, 2012 and 2013 in Great Place to Work Rankings: Best Medium Workplaces.
On Thursday, November 20th, President Obama will announce a series of Immigration Accountability Executive Actions. Below is a statement from Steve Case on the anticipated actions.