RevRoad Raises Over $15 Million From Private Investors as Demand for Venture Services Surges

Derrin Hill and Tony Allen of RevRoad

FOR IMMEDIATE RELEASE

Provo, Utah – June 29, 2023 – RevRoad, a venture services firm based in Utah, today announced over $15 million in funding from private investors. RevRoad has already serviced 73 portfolio companies and helped raise their valuations to a combined enterprise value of more than $1.5 billion. In light of this growth, RevRoad appointed Tony Allen as president of its new Orlando office to work with entrepreneurs and startups in the Florida area. Tony has worked for Zoom, Disney, and many other enterprises to produce large scale events worldwide and has extensive experience scaling business operations and professional services.

The entrepreneurial landscape is currently facing unprecedented challenges in raising venture capital, with global funds down 53% from Q1 of 2022, according to CrunchBase. Startups are struggling to find venture capital firms eager to assist them in their growth. RevRoad gives entrepreneurs a different option, a new model they call “venture services,” working alongside growth-stage companies in twelve areas—including marketing, software development, strategy, and legal. By partnering with RevRoad, portfolio companies are able to raise their valuation and accelerate their path to profitability.

“At the time we applied to RevRoad, raising additional capital would have been extremely difficult and time-consuming,” said AJ Brau, founder of portfolio company Wander. “RevRoad’s services model was a great alternative to capital at that stage of our business—the idea of having services on demand for two years was a game changer. We worked directly alongside RevRoad’s service teams, to focus our attention on growing the business, time we would have otherwise had to spend fundraising. Instead, our common shareholders were teams of dedicated specialists who were committed to understanding every aspect of our company. As a result, we’ve gotten more value from our partnership with RevRoad than we would have if we had simply raised cash.”

A key factor contributing to RevRoad’s success lies in the strategic pairing of portfolio companies with experienced professionals from various business disciplines. This ensures that entrepreneurs receive valuable mentorship from individuals who have experienced the challenges of growing startups. As a result, more than 80% of the companies that have worked with RevRoad remain in business, many of which are thriving today.

“I see companies in Florida who have potential to make a massive impact but are struggling to find the available capital they need to grow,” said Tony Allen, President of RevRoad’s Florida Office. “The problem is that traditional venture capital firms look for specific signals that reduce their investment risk, often leaving promising startups unsupported. At RevRoad, we bridge that gap by working closely with startups and leveraging our extensive resources to help mitigate risks. Our focus is on driving revenue growth, increasing valuations, and providing a solid foundation for startups to approach venture capitalists with confidence.”

The current funding round will further RevRoad’s core mission of supporting entrepreneurs and assisting them in reaching critical milestones, while focusing on expanding services to the East Coast.

For more information, please visit revroad.com.

For media inquiries, please contact Brittany Ouimette, brittany.ouimette@revroad.com, 801-717-7027.

About RevRoad

RevRoad is a venture services firm that focuses on helping entrepreneurs succeed. The company empowers portfolio companies to get to market faster, maximize profitability, and create a solid foundation for their venture. RevRoad’s experts work shoulder-to-shoulder with these founders in 12 service areas for up to 24 months. RevRoad further supports startups through its sister company, RevRoad Capital, a traditional venture capital firm that provides funding to companies inside and outside the RevRoad portfolio. Visit revroad.com to learn more and apply for the venture services program.

Honoring Community Heroes at RevRoad Rally OremFest 2023

Vintage car at the RevRoad Rally OremFest

OREM, Utah, May 24, 2023 — To mark the commencement of OremFest 2023, RevRoad will host an impressive car show featuring an intriguing array of vintage and exotic cars at Scera Park in Orem. Notably, the company has extended a special invitation to the  VIP Guests of Honor from Medallion Manor and TURN Community Services, which provide exceptional care for special needs adults in the local area.  To ensure a memorable experience for the VIP Guests of Honor,  they will be accompanied by the glamorous Miss Utah, along with Orem City Royalty, and local university cheerleaders. 

In further celebration of the Orem community, the event’s sidewalks will be decorated with vibrant chalk by artists throughout the area. Guests will enjoy a good old-fashioned hot dog dinner (while supplies last) along with a variety of engaging children’s activities hosted by local businesses.

The RevRoad Rally has become an anticipated event at the mark of summer, attracting a community crowd of typically between 2,500–3,500 people. The RevRoad Rally is a chance for RevRoad team members and portfolio companies, Orem City community members, car owners, and attendees to come together and enjoy a night out. The RevRoad Rally is free to attend for anyone seeking a fun evening out. 

The event will kick off OremFest on June 5th, 2023 at 6:00 pm and will conclude at 9:00 pm at Scera Park in Orem, Utah. All are welcome and encouraged to come enjoy the summer air and create wholesome memories with the community.

View the event FAQs at https://www.revroad.com/rally.

About RevRoad

RevRoad is a venture services firm that focuses on helping entrepreneurs succeed. The company empowers portfolio companies to maximize profitability, get to market faster, and create a solid foundation for their venture by packing their team with experts for up to 24 months. RevRoad team members work shoulder-to-shoulder with founders of developing companies to provide everything they need to scale their business faster visit revroad.com to learn more and apply for the accelerator program.

RevRoad Announces 36 Semi-Finalists for 6th Semi-Annual Entrepreneur Competition Sponsored by Central Bank

Utah’s biggest Entrepreneur Competition features rising startups that will lead the future. 

PROVO, Utah — RevRoad, a Utah business accelerator, today announced the 36 semi-finalists for the 6th semi-annual Entrepreneur Competition sponsored by Central Bank. The competition will be held at 10:00 AM on Saturday, March 25, 2023, at the Utah Valley University Keller Building. With $10,000 on the line, these companies are eager to showcase their businesses to Utah’s finest investors, mentors, and executives. 

The competition semi-finalists are: 

The semi-finalists will compete for the following prizes:

  • $10,000 Central Bank Grand Prize
    (Cash prizes are not tied to an investment or equity.)
  • $2,500 cash for the Runner-Up
    (Cash prizes are not tied to an investment or equity.)
  • $1,000 cash for the 3rd place prize
    (Cash prizes are not tied to an investment or equity.)
  • $1,000 cash prize for the Fan Favorite
    (Cash prizes are not tied to an investment or equity.)

RevRoad encourages the public to vote for their favorite company as part of the fan favorite award. They are also invited to attend this free event.

Further detail at ecomp.revroad.com. For media inquiries, interviews or additional information, please contact RevRoad PR Specialist Brittany Ouimette at brittany.ouimette@revroad.com or by calling  888-920-7623.

About RevRoad

RevRoad is a venture services firm that focuses on helping entrepreneurs succeed. They empower portfolio companies to maximize profitability, get to market faster and create a solid foundation for their venture by packing their team with experts for up to 24 months. RevRoad team members work shoulder-to-shoulder with founders of developing companies to provide everything they need to scale their businesses faster. Visit revroad.com to learn more and apply for the accelerator program.

The Rise of RevRoad’s Unicorn: ERC Specialists

The rise of the fastest growing nearly $1B dollar company in Utah has been astounding, something we may never see again—starting at $0 revenue only 14 months ago. They have accomplished this somewhat incognito, staying too busy with their growth to worry about the fanfare. Yet now, as they approach this massive milestone in the startup space, we think it’s time for their incredible story to be told.   

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Networking Scripts to Navigate Existing Relationships

Building connections and relationships with others is a crucial part of doing business. Ever heard the term your network = your net worth? That’s because the people you surround yourself with bring value to your life and business. 

For some, networking can be a very intimidating task. If you aren’t sure where to start, check out these scripts!

4 short networking scripts:

  1. You don’t know me, but our mutual associate [name] recommended that I contact you.
  2. I am trying to [specific ultimate goal] and they said of everyone they know, you would be the very best to talk to.
  3. Is there a time I can sit down with you for 15 minutes to discuss this?
  4. Who do you know that you would want to talk to if you were in my position?

In this workshop, RevRoad Strategist, Seth Robinson, guides us through the networking process and how to do it best. 
Watch the full networking workshop here

Download your “Networking Scripts Cheat Sheet” sheet here

Learn more about RevRoad here.