Rev1 is committed to developing and growing the technology-based economy by helping entrepreneurs build great companies. We provide entrepreneurs with a unique blend of resources – services, connections, and funding – to turn innovative ideas into successful businesses. Rev1 has been recognized as among the most active seed investors in the U.S. by PitchBook. Six core values drive all of Rev1’s work: Entrepreneur Focused, Ingrained Inclusion, Integrity, Collaboration, Persistent Curiosity, and Impact Driven.
Reporting to the Senior Director, State Auto Labs Fund, the Analyst is a critical member of a diverse team that analyzes, executes, and manages investments in seed and early stage companies across several dedicated capital funds including State Auto Labs Fund, Rev1 Fund I, Rev1 Ventures concept funds, and dedicated funds investing in companies commercializing technologies developed at innovation partners.
One focus of the position will be on investments in insurance technology (“insurtech”). One of the funds that Rev1 manages is the State Auto Labs Fund (“SALF”), which is a $25MM fund raised in partnership with State Auto Insurance Companies that invests in insurtech companies across the United States. It is currently Rev1’s largest managed fund and the only fund with the mandate to invest nationwide.
Insurtech has become one of the fastest growing sectors in the tech industry, attracting over $2.5B of investment across over 200 deals in 2018. SALF invests broadly across Internet of Things, Data/Analytics, Insurance Distribution, and Insurance Carrier Operational Solutions.
What You’ll Do:
• Maintain daily coverage of blogs and newsletters related to industry announcements to discover new companies that fit Rev1’s investment mandate. Establish relationships with these companies to create leads for various funds.
• Manage investment pipeline and dashboard reporting for weekly SALF meetings with Rev1’s CEO and the Managing Director of State Auto Labs.
• Create and maintain process of securing feedback from State Auto’s operational teams to ascertain strategic fit with State Auto’s business units. Utilize this process to discover new investment opportunities from the business units.
• Assist in Rev1 Ventures due diligence processes to evaluate technology, products, business, and financial plans; perform customer and market assessments, competitive analyses, and model capital requirements across the early stage company life cycle. Support project teams that counsel companies and help prepare variance analyses, investment memoranda, and conduct research for comparable company/investment data.
• Work with Investment staff to ensure a consistent investment process. Assist in the completion of pre-investment committee checklist, investment recommendation presentation development, and critical review and risk assessment of prospective investments.
• Assist in developing, implementing and managing systems to track and organize due diligence files, investment documents, and portfolio company documents.
• Support Rev1 Ventures’ efforts to build relationships with venture funds, and other strategic insurance investors. Evaluate, appropriately document, and report on new investment opportunities to meet deal flow objectives.
• Assist in monitoring portfolio company progress and maintain up-to-date records within Rev1’s CRM system, Salesforce.com.
• Generate required internal approval forms and documentation necessary for investment related activities, including disbursements of funds, in accordance with Rev1 Ventures program policies and procedures, fund management agreements, and state grant and loan agreements.
• Assist in preparing fund level reporting and annual meeting preparation for SALF and capital call documentation preparation as needed.
• Work closely with Rev1 staff and executive management to function as an advocate for the mission, programs, and clients of Rev1.
What You Bring:
• Education: Bachelor’s degree in business, arts & sciences, engineering, or a related field preferred. College students with a spring 2019 graduation date are encouraged to apply and can begin working after graduation. For spring 2019 graduates, there may also be an opportunity to begin working part-time prior to graduation and move to full-time after graduation.
• Experience: Internships at companies related to private early stage investment and/or combination of venture development, technology commercialization, corporate development, M&A, accounting, and/or investment management experience preferred.
• Analytical Know-How: Preliminary technical financial and analytical skills preferred. College coursework in Finance/Accounting preferred. Experience with interpreting financial statements and using Microsoft Excel preferred. Solid ability to research companies and markets across a variety of sources.
• Project Management: Detail-oriented; able to manage competing priorities across a variety of tasks, timelines, and stakeholders. Strong work ethic.
• Strong Communication: Highly professional at all times with excellent verbal, written, and presentation skills.
• Business Judgment: Ability to make well-reasoned conclusions and recommendations regarding new investment opportunities, and relative to specific transaction execution and portfolio management situations.
• Data Management: Rev1 is a data-driven organization, and overall team success requires individual responsibility to identify, document, and report consistently and accurately on objectives and outcomes.
• Team-Oriented: Comfortable working in cross-functional teams and able to collaborate with diverse professionals, including university researchers, entrepreneurs, venture capitalists, angel investors, strategic vendors, and the Rev1 marketing and venture acceleration teams and other staff. Ability to function effectively in a matrix management setting.
• Sector Knowledge: General interest in the property and casualty insurance industry.
Who You Are:
• Comfortable on a Diverse Team: We believe that gender, racial, ethnic, and cultural diversity are key elements in startup success, and we foster this belief on our own team as well.
• Flexible and Collaborative: Willing to work with a variety of companies, partners, and projects. Able to deal with complex, ambiguous situations effectively. Must be able to participate in programs/events that may occur on nights/weekends as an advocate of Rev1 Ventures.
• Continuous Learning: We foster an encouraging environment that is always learning, always asking questions and challenging assumptions.
• Self-Starter: Comfortable managing a process from start to production and delivery. Willing to self-educate in fields outside of personal experience.
• Entrepreneurial: Have a strong and demonstrated interest in early-stage companies, understanding the stress and concerns entrepreneurs face.
• Positive and Polished: High level of professionalism, composure, confidence, and emotional maturity. Ability to interact effectively with executives, entrepreneurs, professional service providers, co-investors in a productive manner.
• Ethical: High integrity; trustworthy with confidential information. We ensure transparency and intellectual honesty are at the core of every interaction.
What’s in it for you?
• Collaborative work environment at one of the Best Places to Work in Columbus
• Access to exciting tech startups and trends in the national arena
• Competitive compensation package, including performance-based incentives
• Generous paid time off
• 401(k) matching
• Health, dental, and vision benefits
Location: Rev1 Ventures – Columbus, Ohio
Start Date: For those with college degrees, start date can be immediate. College students with a spring 2019 graduation date are encouraged to apply and can begin working after graduation. For spring 2019 graduates, there may also be an opportunity to begin working part-time prior to graduation and move to full-time after graduation.
Applicants must be eligible to work in the United States and able to work 8am-5pm Monday – Friday with some night and weekend availability to attend related events.
Travel: ~10% of time, typically related to conferences and due diligence trips for potential investment opportunities.
If interested, please apply here.