CLEVELAND, July 26, 2016 /PRNewswire/ — Cleveland-based venture development organization, JumpStart Inc. has announced the first new investment from its recapitalized Evergreen Fund, committing $250k to technology startup Revenue Conduit. This growing company, headquartered in Akron, OH helps online retailers grow by automatically attracting, converting and retaining customers. Revenue Conduit’s primary product is a deep, seamless integration between eCommerce platforms and many of the most common marketing automation platforms such as Infusionsoft, ActiveCampaign and Hubspot.
“It’s hard to overstate the impact this investment will have,” said Revenue Conduit Co-Founder and CEO Daniel Kurt. “Having bootstrapped the company with an initial investment of $1,400, we’re now in a position to move much faster. We will now be adding several key team members that will help accelerate product development and customer acquisition, and better position ourselves for a Series A round in 2017.”
Launched in April, 2013 Revenue Conduit was born out of Kurt’s frustration with the lack of integration between his e-commerce store and his marketing tools. The company’s original goal involved integrating a basic e-commerce WordPress plugin with Mailchimp for marketing. Since then, they have successfully integrated a number of additional e-commerce platforms such as Shopify, Bigcommerce, Magento and Woocommerce with marketing automation platforms such as Infusionsoft, ActiveCampaign and Hubspot.
JumpStart’s original Evergreen Fund backed 76 portfolio companies from 2004-2013. The fund has since been recapitalized with $10 million and will join two new JumpStart funds; the $20 million NEXT Fund, designed to invest larger amounts in later stage startups, and the $10 million Focus Fund, which invests exclusively in female and minority-owned ventures throughout Ohio.
“The Evergreen Fund is designed to support early-stage, tech startups led by flexible entrepreneurs with unique ideas targeting large markets and with significant growth potential in Northeast Ohio,” said Rem Harris, JumpStart’s senior partner in charge of investing. “Revenue Conduit fits this description very well. They are solving a real problem in the market, and we are excited to partner with Dan and his fellow Co-founder Parag Jagdale to help accelerate the company’s growth.”
“JumpStart has been a pleasure to work with,” added Kurt. “Their due diligence process is very thorough and has provided us with momentum, validation and credibility as we grow in Northeast Ohio.”
To learn more about JumpStart’s various investment vehicles, visit www.jumpstartinc.org/funding/investments.
JUMPSTART INC. unlocks the full potential of diverse and ambitious entrepreneurs to economically transform entire communities. For more information, visit www.jumpstartinc.org and follow @JumpStartInc on Twitter.
REVENUE CONDUIT is a SaaS platform offering an easy yet deep integration between ecommerce and marketing automation platforms. Launched in 2013, the company is now syncing tens of thousands of orders every month and growth continues to accelerate. For more information, visit www.revenueconduit.com and follow @RevenueConduit on Twitter.
SOURCE JumpStart Inc.