COLUMBUS, Ohio — Telhio Credit Union said it has entered into a partnership with Rev1 Ventures aimed at supporting startup growth and innovation across Ohio.
The $1.35-billion credit union said in a statement it has joined Rev1 as a funding partner, becoming the first credit union to participate in the organization’s network of more than 40 corporate partners focused on advancing innovation and economic development.
Rev1 Ventures describes itself as a “venture studio and investor that works with entrepreneurs and corporations to build and scale high-growth companies, particularly in software-as-a-service, artificial intelligence, deep technology and life sciences.” The organization also said it helps prepare startups for early-stage investment and provides programming and resources designed to support an innovation ecosystem.
More Than 200 Companies Funded
According to Rev1, its efforts have contributed to $7.5 billion in startup impact, supported more than 1,600 startups, funded more than 200 companies and helped create more than 2,700 jobs.
As a funding partner, Telhio said it will gain access to early insight into emerging technologies, as well as participation in Rev1’s programming and expertise, while helping to support startups that create jobs and drive regional economic activity, the credit union said.
Long Role in Business Community
Telhio said the partnership builds on its long-standing role in Ohio’s business community. Founded in 1934 as a credit union serving employees of the Columbus Telephone Company, later part of AT&T, the institution has grown into one of the largest credit unions in central Ohio and is the top Small Business Administration lender among credit unions in the state.
“Telhio has always believed that strong communities are built by supporting the people and ideas driving them forward,” Nick Biratsis, Telhio’s vice president of marketing, said in the statement. “Partnering with Rev1 allows us to deepen our commitment to Ohio’s innovation economy by connecting with the entrepreneurs and startups shaping the future.”
