AOL co-founder Steve Case talks about what he looks for in entrepreneurs and start-ups for his investment company Revolution.
H. Darr Beiser, USA TODAY
Losant, a Downtown-based information technology company, recently landed $5.2 million in new financing, including an undisclosed investment from AOL co-founder Steve Case’s investment firm, Revolution.
Revolution’s $150 million “Rise of the Rest” seed fund – led by Case and Middletown-born venture capitalist, J.D. Vance – is backed by a slew of iconic entrepreneurs, including Amazon founder Jeff Bezos and Starbucks chairman Howard Schultz.
The fund provides financing to entrepreneurs outside traditional tech hubs, such as Silicon Valley.
Losant, which helps companies connect smart devices to the Internet and to one another through its Internet of things (IoT) software platform, was one of the first companies to secure an investment from the fund.
“We’re excited to see our platform power intelligent solutions across a gamut of industries,” said Losant CEO Charlie Key, whose clients include Verizon, Bosch, and Hewlett Packard.
Revolution was joined by investment groups TechNexus of Chicago and Vine Street Ventures in Over-the-Rhine in backing Losant.
CincyTech, a public-private seed-stage investment group based in OTR, led the fundraising effort.
“We are thrilled to invest in Losant alongside CincyTech, who has been helping entrepreneurs build successful technology companies in southwest Ohio for a decade,” said Vance, who is perhaps best-known for his memoir, Hillbilly Elegy.