DUBLIN PARTNERSHIP REPORTREV1 VENTURES - Q4 2016

OVERVIEW

Rev1 is a seed-stage venture development organization that combines investment capital and strategic services to help entrepreneurs build products people want and companies that succeed. Our seasoned, data-driven team delivers early market validation for startups, helping them lay the foundation for scalable growth with the skills to evolve their product, sell to customers, and build the right team. Rev1 manages a continuum of investment support from corporate, community, and innovation partners, as well as the Ohio Third Frontier. Rev1 was named the Most Active VC in Ohio in 2016 by CB Insights.

BUSINESS METRICS

4th Quarter (October 1, 2016 - December 31, 2016)

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Qualified Leads 43

First Meetings 21

Companies Engaged 6

Positioned for Funding 18

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Rev1 Ventures Investment

Total $2,813,569

External Investors

Angel $2,435,582

Corporate/Private $1,447,941

Founder Capital $617,121

Friends/Family $119,985

OTAF Member $444,242

Venture Capital $7,998,227

State Sources $1,200,000

Total $14,263,098

TOTAL INVESTMENT $17,076,667

PROGRAMS

Rev1’s Startup Program helps entrepreneurs and corporate innovation teams identify, build and scale disruptive products that are redefining industries. Leveraging Rev1’s seasoned, data-driven team, the program delivers a strong foundation for innovators, with the skills to validate their product, build a viable business, sell to customers, hire the right team, and access growth capital. Companies that take advantage of the breadth of the program have a stronger foundation for growth, power through milestones more efficiently and are more capital efficient.

First Connect services delivered in Q4:• Experts: Delivered $223,274 in expert services

(legal, accounting, development, marketing, etc.)provided by the central Ohio community.

• Advisors: More than 95 hours of time deliveredfrom national experts.

• Customer Acquisition: 11 qualified opportunitiesaccessed for the portfolio and $240,000 inrevenue closed.

• Talent: Promoted 51 job openings.

In Q4, Rev1 launched two pilot Customer Acquisition projects that matched an outside consulting firm with two of our portfolio companies. The results from these pilots will help us in our goal to create highly scalable customer acquisition services that accelerate our clients’ business model validation and market entry by providing qualified opportunities on a national level. Both firms provided a discount to our clients, and Rev1 shared 50% of the remaining cost.

• Sapper Consulting + T-Pro Solutions: SapperConsulting provides qualified 1st meetingscheduling via email campaigns. They workedwith T-Pro for two months. T-Pro found theengagement to be very educational but will notcontinue with Sapper as they have an internalemployee who is tasked with this activity.

• Evolve Growth + Ambassador SoftwareWorks: Evolve Growth provides sales strategyconsulting, management, and inside sales. Thegoal with this engagement was to set qualified1st meetings for Ambassador Software Works.They worked with Ambassador for two monthsand Ambassador will continue the service for aminimum of three months going forward.

We will continue to offer engagements with both consulting firms to our portfolio companies to further prove out the program, sharing the discounted cost.

MOMENTUM

Portfolio Buzz• Trendshift Acquires Health Data Intelligence - Yahoo Finance & Venture Beat• Assurex: Gene Rush: Investors of All Types Spot Opportunity in Genomics - CB Insights• Fast 50 Rankings Revealed (Updox) - Columbus Business First• Prevedere Makes List of Enterprise Startups that Will Boom in 2017 - Business Insider• Could a Single Mistake Cost 35% of Your Holiday Customers? (Refill) - Forbes• Columbus e-Commerce Software Maker Raises Nearly $2M (nChannel) - Columbus Business First• Clarivoy’s Proprietary TV Analytics Solution Wins DrivingSales 2016 Innovation Cup - EIN News• Digital Ticketing, Virtual Reality Sensors Land Job Creation Loans from the Ohio Third Frontier

(TicketFire) - Columbus Business First• 1-Hour Alcohol Delivery Service Rebrands as Refill, Starts Courting Bars and Restaurants - Columbus

Business First• Columbus Chamber cbuzz: Dan Fronczak of Healthy Roster - Metropreneur• Jifiti - Columbus CEO

Rev1 Buzz• Here’s Why Rev1’s Startup Incubator is Hosting a $1.5B Company - Columbus Business First• The Great Midwestern Tech Startup Surge - Entrepreneur• Rev1 Ventures Reloaded With Money From Ohio Third Frontier, Civic, and Corporate Backers - Columbus

Business First• Local Tech Efforts Receive Millions in Funding - The Columbus Dispatch• 6 Sales Myths Debunked - American Express• Paul Singh’s Tech Tour Visits Columbus - Columbus Business First• Rev1 Ventures Launches Entrepreneur Giving Fund to Cultivate Culture of Giving Back - PR Web• A VC Puts on His Equity Crowdfunding Hat - Young Upstarts

QUALIFIED LEADS 10

FIRST MEETINGS 8

CLIENTS 2

POSITIONED FOR FUNDING 2

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INVESTMENT ACTIVITY

Dublin 2016 Quarter 4 Impacts

GENERAL DEAL FLOWJANUARY 1, 2016 - DECEMBER 31, 2016

DEAL FLOW

INVESTMENTSJanuary 1, 2016 – December 31, 2016

RETURN ON INVESTMENTInvestments Made Over All Time

Rev1 Investment

Total $1,000,000

External Investors

Angel - Group $650,000

Angel - Individual $380,009

Corporate $75,000

OTAF Member $50,000

Venture Capital $150,000

Total External $1,305,009

TOTAL INVESTMENT $2,305,009

EXPERT SERVICES AMOUNT INVOICEDACCOUNTING $15,136

LEGAL $8,989

MARKETING $465

HR/RECRUITING $16,250

TOTAL $40,840

IT 6

OTHER 5

INQUIRIES BY INDUSTRY

Investment by Dublin in Rev1

Total $2,000,000

Investments in Dublin Companies

Rev1 Ventures $2,144,044

OTAF $1,299,998

Other Investments $50,913,211

Other Grant or Debt $5,514,355

Total $59,871,608

Dublin Companies Performance

Revenue Generated $46,588,752

Jobs 124

TOTAL INVESTMENT + REVENUE $106,460,360

TOTAL LEVERAGE 53:1

INVESTMENT CAPITAL LEVERAGE 30:1

Concept Academy

Dublin Rev1

Start-Ups Completed 6 127

Became Rev1 Client 16.7% 20.5%

Raised by Grads - $530,000

COMPANY AND PROGRAM UPDATES

COMPANY UPDATES

Brand Thunder interactive themes are available for some of the most recognizable brands in the world. With Brand Thunder, you can engage your audience every time they browse the web. In Q4 the company leveraged a strategic partnership with VisiCom to expand its business. Brand Thunder can now sell directly to companies, in addition to connecting with clients online for branding their webpages.

CropZilla provides farm management and productivity software that helps farmers create a master plan for their fields, making the farm more profitable. In Q4 the company:• Moved into the DEC in Dublin.• Raised $800K in seed funding from a group of individuals and corporate partners.

The funds will be used to expand CropZilla’s sales and marketing efforts following thesuccessful roll-out of their farm operations/decision support software package during2016.

Healthy Roster’s product, Virtual Athletic Trainer, is an app and injury communications platform designed to give parents peace of mind when their child first suffers a sports injury and afterward. In Q4 the company received an investment from Cincinnati-based Queen City Angels. The company plans to use the investment to scale its sales efforts and to continue product development.

Innovator Health is a telehealth solution connecting major hospital hubs to smaller rural hospitals so that displaced patients can have better access to specialists and expert doctors. Rev1 engaged with IH in October 2016 and has since connected the founder, Darren Sommer, to advisor Wes Strickling through our First Connect Advisors program. Wes is taking on greater and greater roles with the company and is likely to join them full time. Innovator Health is also in the process of closing deals with several hospital systems around the U.S. Rev1 is hoping to position IH for investment in the next 30-45 days.

Updox provides a fully-integrated communications platform for independent physician practices, offering several features including: electronic communication, patient portal, document management, and EHR/EM integration. In Q4 the company announced the renewal of its full accreditation with the Direct Trusted Agent Accreditation Program (DTAAP) as a Health Information Service Provider/Registration Authority/Certificate Authority (HISP/RA/CA) from DirectTrust.org and the Electronic Healthcare Network Accreditation Commission (EHNAC). Accreditation by EHNAC certifies that an organization’s direct secure messaging services meet HIPAA and HITECH requirements, industry standards, and Direct Project regulations.

COMMUNITY ENGAGAMENT

Rev1 provided speakers and content for entrepreneurial education, and 1-1 coaching at the DEC’s monthly networking events. Following are the topics of the sessions lead by Rev1:

Event: Creating a Minimally Viable ProductDate: October 20, 2016Program: Customers are at the center of every successful product and high-growth company. Understanding what core features are needed to satisfy customers is the starting point. Rev1 Ventures’ Matt Veryser led a hands-on session that helped entrepreneurs to:• Map out their user experience;• Determine core “features” to build into their first MVP; and• Understand how to iterate on their product, leveraging market feedback.

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SDublin 2016 Quarter 4 Impacts

Speaker: Matt Veryser is Director, Venture Acceleration at Rev1 Ventures. Matt works with the earliest stage startups to help them validate (or disprove) market assumptions. He helps clients save time and money by getting the right solution in front of the right customers. He comes from a family of entrepreneurs—his dad, uncle, and both grandfathers — and has a BS in Finance from the University of Dayton.

Event: Healthy Roster Building a Startup by Building SalesDate: November 17, 2016 Program: Interactive Q&A with Nathan Heerdt, serial entrepreneur and co-founder of Health Roster. Healthy Roster is a growing Columbus startup that connects parents of kids who are injured in youth sports quickly and easily with certified athletic trainers from local hospitals they know and trust.

Tips and Takeaways:• How to narrow the focus to the markets most likely to yield first customers.• How Health Roster founders figured out what it takes to sell their solution (who to call on,

what to say, how long it takes from first contact to close) by rolling up their sleeves anddoing it themselves.

• The “smarts” of developing a sales approach based on benefits, not features: “We giveparents peace of mind and healthcare providers a direct line to new patients.”

• How to improve the efficiency of the startup’s sales cycle and scale it up.

Speaker: Nathan Heerdt, Healthy Roster co-founder and CEO, and his co-founders Shawn Price, CTO, and Dan Fronczak, president, were part of the turn-around team at Digital Scout. In just three years, the team sold the company for a 5X multiple. Together this team knows how to build and scale an app company in the youth sports space.

Charles Hill, Rev1 director of community outreach, leads Rev1’s efforts to leverage the region’s willingness to support entrepreneurs through cohesive partnerships. He also engages to expand inclusive entrepreneurship across our region.

Event: Inclusive Entrepreneurship CBUS StyleDate: December 15, 2016Program: Companies with more diverse leaders and teams are more successful and create better solutions to problems. The program provided insights for those thinking about diversifying their company and/or looking to connect with local resources.

Speakers:• Charles Hill, Director of Community Outreach, moderator: In his role with Rev1, Charles is

focused on connecting the diverse organizations in the region to support startups.• <BLK Hack>, whose mission it is to fill the deficit of black minorities in the technical field.• i.c.stars | *Columbus, a powerhouse that gives bright, committed young adults who face

bleak futures, the opportunity to develop advanced IT skills.• Bunker Labs-Columbus, the first expansion location of this national network of

entrepreneurs founded by military veterans to help other veterans start and grow busineses.

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DEAL FLOW TERMS

DEAL FLOW: all new business ventures that are submitted to Rev1 Ventures.

QUALIFIED LEADS: opportunities that come through deal flow that align with our commitment to serve companies that are within our region, scalable, and tech enabled.

FIRST MEETINGS: the initial meeting held with entrepreneurs for Rev1 Ventures to vet out the business model. The main topics covered in the first meeting generally revolve around the problem and solution a business is addressing, the market, revenue potential, competitors, milestones/goals and needs moving forward.

COMPANIES ENGAGED: startup ventures with a signed engagement letter with Rev1 Ventures and using Rev1 Ventures resources.

INVESTMENT TERMS

ANGEL GROUPS: investment funds that are pooled by a collection of high net-worth angel investors. These groups all form a part of the Angel Capital Association, a national network of angel groups.

INDIVIDUAL ANGEL INVESTORS: high net-worth individuals who meet investing criteria established by the Securities and Exchange Commission. Currently, the SEC defines an angel investor as someone who, excluding the value of their residence, has a net worth of over $1 million or has an annual income over $200,000.

OTAF MEMBERS: part of the Ohio TechAngel Funds, an angel fund operated by Rev1 Ventures. More than 340 high net-worth accredited investors contribute to the funds, which invest in high potential IT, software, bioscience, medical device, and advanced material startups in Ohio.

VENTURE CAPITAL: investment that comes from individual investors, investment banks, venture capital firms or other entities that pool investments. Whereas the Ohio TechAngel Funds invests in early-stage companies, venture capital is often secured once companies have started to attain customers and revenue. Venture capital, like angel investment, is aimed at high-potential, high-growth companies.

Dublin 2016 Quarter 4 Impacts