Provo—RevRoad, a leading venture services firm based in Provo, Utah, announced today the successful raise of over $15 million in another round of funding with private investors. This significant investment, contributed by high-net-worth individuals, attests to the effectiveness of RevRoad’s service model in assisting growth-stage startups to reach critical milestones. The entrepreneurial landscape faces unprecedented challenges, such as increasing interest rates, less access to capital, and more aversion to risk. This funding infusion will foster expansion in the form of additional hires, a new location in Florida, and other locations yet to be determined. These additional resources are dedicated to drive success for aspiring startups. 

AJ Brau, founder of RevRoad portfolio company Wander, emphasized the importance of having experts on hand during the early stages of her company, stating, “Early on, I needed more than just money. The idea of having flexible services on demand for two years was a game-changer for me. If not for RevRoad, we would have raised around $500,000 which likely would have depleted within two years. Instead, their support has stretched our resources much further, and we continue to derive value from our partnership. RevRoad not only has a track record of empowering female founders, but what sets them apart is their deep understanding of our business needs.” 

RevRoad has supported the entrepreneurial community for over five years now and built a strong brand and reputation for empowering founders nationwide. Due to their innovative approach, RevRoad boasts an impressive 81% startup success rate, which has enabled them to grow 73 companies (and counting) to a total enterprise value of more than $1.5 billion. Furthermore, RevRoad remains dedicated to giving back through community involvement and its nonprofit organization, which organizes rescue trips for refugees in Ukraine. 

Russ Monson, CFO of RevRoad, shed light on the purpose of the newly acquired funds, stating, “The resources obtained through this funding round will be strategically allocated to grow our team and expand our services to other states. Having recently established a presence in Florida, we have plans for further expansion in the near future. We aim to grow our team and work side by side with entrepreneurs, rolling up our sleeves to help them navigate the road to revenue.” 

This round of funding will support RevRoad’s core purpose to support entrepreneurs and increase the success rate of startups, with a focus on expanding services to other parts of the nation.

For more information, please visit: www.revroad.com. 

For media inquiries, please contact Brittany Ouimette, [email protected], 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 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. 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.