Revolution

Overview

Revolution LLC is a Washington, D.C.-based investment firm that funds entrepreneurs building transformative companies, particularly outside major coastal tech hubs like New York, San Francisco, and Boston. It operates through funds including Revolution Ventures for early-stage tech investments, Revolution Growth for growth-stage consumer tech, and Rise of the Rest for seed investments in non-traditional hubs. The firm manages over $215 million in assets and focuses on sectors such as software, fintech, healthtech, and consumer services.²¹⁵

History

Revolution LLC was founded in 2005 in Washington, D.C. by Steve Case, co-founder of AOL, after he left the AOL Time Warner board.²⁵ Key early investments included Zipcar (acquired by Avis), Revolution Money (acquired by Amex), and LivingSocial (acquired by Groupon).⁵ In 2011, it launched Revolution Growth with $450 million for growth-stage investments, followed by Revolution Ventures in 2013 for early-stage funding and the Rise of the Rest initiative in 2014 to highlight innovation in non-coastal cities.²⁵ Recent milestones include Rise of the Rest Seed Fund in 2017 and public listings of portfolio companies like DraftKings and BigCommerce in 2020.⁵

Product Lines

Notable Products

• Zipcar - Car-sharing service acquired by Avis.
• LivingSocial - Daily deals platform acquired by Groupon.
• DraftKings - Daily fantasy sports platform that went public.
• Sweetgreen - Healthy fast-casual restaurant chain.
• BigCommerce - E-commerce platform that went public.

Reputation

Revolution is recognized by investors and entrepreneurs for its focus on mid-American startups through Rise of the Rest, fostering innovation beyond coastal hubs.²⁵ Professionals note its track record with exits like Zipcar and DraftKings, leveraging Steve Case's experience.¹² Some view its geographic diversity as a strength in sourcing unique deals, though it competes with larger coastal VCs.³