J.D. Vance Commits $500,000 to the Two Winning Startups and Challenges the Nine Other Companies to Raise $1M
WASHINGTON, D.C. & MOUNTAIN VIEW, Calif. — Today, at Google Demo Day, J.D. Vance, Managing Partner at Revolution’s Rise of the Rest Seed Fund (“ROTR Fund”), committed to investing $250,000 in the two companies that received this year’s Judge’s Favorite Award: Increase and ShearShare. In addition, Vance committed $150,000 from the ROTR Fund to each of the other nine participating startups, provided that the startups each raise $1M in the next six months. Startups that complete the challenge will join the more than 50 companies already in the Rise of the Rest Seed Fund portfolio. The challenge reflects the Fund's mission to further catalyze investment and support for companies in rising regions.
The two Judge’s Favorite Awards went to Increase, a fintech company based in Buenos Aires, Argentina, that empowers businesses and simplifies how they control their income; and ShearShare, a McKinney, TX-based B2B marketplace that lets stylists rent space to work by the day in cities all over the world.
The 11 startups that participated in this year’s Google Demo Day hail from cities across North and South America, including several Rise of the Rest ecosystems such as Detroit, Durham, and Minneapolis.
Vance was joined on the judging panel this year by Di-Ann Eisnor, Director of Growth at Waze, Wasalu Muhammad Jaco (also known as Lupe Fiasco), Rapper, Producer, and Entrepreneur, and Monique Woodard, Venture Capitalist and Founder of Black Founders.
“I’m honored to have been asked to judge this year’s Google Demo Day and was thoroughly impressed by the pitches from all 11 companies,” said Vance. “A supportive startup ecosystem is critical in driving the success of local companies. I’m confident that the communities of the startups we saw pitch today will rally in support of their growth to help complete the challenge.”
Today’s announcement follows commitments that Steve Case, Chairman and CEO at Revolution and lead partner on the Rise of the Rest Seed Fund, made at previous Google Demo Days. In 2014, he surprised the ten participating entrepreneurs with a $100,000 investment in each of their companies, and in 2015, he announced $100,000 surprise investments in the four female-founded companies participating that year. For the last two years, Case has committed $100,000 to every participating startup that raised $1 million within 100 days.
About Revolution
Revolution is a D.C.-based firm investing in entrepreneurs building transformative companies and destinations beyond Silicon Valley. Through our family of funds, we partner with founders at every stage of the startup lifecycle. Follow us at @Revolution and @RiseOfRest.
About Rise of the Rest
Revolution’s Rise of the Rest is a nationwide platform led by Steve Case focused on spotlighting regional startup hubs. The Rise of the Rest Seed Fund invests in early-stage, high-growth companies across the country, partnering with regional ecosystem leaders and co-investors to build and scale the next wave of transformational startups. The fund is backed by a group of iconic entrepreneurs and business leaders who believe the next great startups are outside coastal tech hubs. Visit us online at revolution.com or @RiseOfRest.
About Google for Entrepreneurs
Google for Entrepreneurs provides financial support and the best of Google's resources to dozens of coworking spaces and community programs across 125 countries. We also create Campuses: physical hubs where entrepreneurs can learn, connect, and build companies that will change the world. To learn more about Google for Entrepreneurs, visit googleforentrepreneurs.com
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