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367 Ventures is an early-stage investment and advisory firm founded in 1993 by serial entrepreneurs Ross Freedman and Brad Schneider. The firm is based in Madison, Wisconsin, and has established a reputation for advising, mentoring, and investing in early-stage companies led by visionary founders. The name '367 Ventures' references both the UW-Madison Computer Science 367 course and the elevator meeting where the co-founders met on their first day of college. Over its 30-year history, the firm has developed a strong emphasis on data and technology, aiming to help companies maintain competitiveness in a rapidly evolving digital landscape.
Currently, 367 Ventures manages a modest portfolio of six companies, reflecting a selective investment strategy that prioritizes hands-on engagement over volume. The firm operates with a hybrid model that combines investment with advisory services, allowing them to provide tailored support to their portfolio companies. This approach has enabled 367 Ventures to build a strong network and a solid reputation within the startup community.
367 Ventures invests in early-stage companies across various sectors, including artificial intelligence, healthcare, SaaS, and commerce. The firm targets companies at the pre-seed, seed, seed-plus, and Series A stages, emphasizing the importance of strong and coachable management teams. They seek startups that demonstrate a commitment to customer acquisition and the development of next-generation technologies. The firm’s investment thesis posits that every company today must either be a data and technology company or reinvent itself to become one.
In addition to sector focus, 367 Ventures looks for companies that have scalable customer retention strategies and innovative technology solutions. Their investment strategy is designed to align with the evolving needs of the market, ensuring that their portfolio companies are well-positioned for growth in a competitive landscape.
367 Ventures has a diverse portfolio of six companies, each contributing to various sectors:
Notably, 367 Ventures co-founded Rightpoint, which was acquired by Genpact, a multi-billion dollar professional services firm, marking a significant exit for the firm.
Ross Freedman: Co-founder and Managing Director of 367 Ventures, Ross has extensive expertise in sales and marketing team building, company culture, fundraising, and mergers and acquisitions. His background as a serial entrepreneur informs his approach to mentoring and advising portfolio companies.
Brad Schneider: Co-founder and Managing Director, Brad specializes in operational systems and culture development. He has a strong track record in fundraising and M&A, bringing valuable insights to the firms and startups he works with.
To pitch to 367 Ventures, founders should visit their website at 367 Ventures. The firm prefers direct applications through their online platform. In the pitch deck, it is important to include a clear overview of the business model, customer acquisition strategies, and the technology being developed. Founders should be prepared for a response time that may vary, as the firm evaluates each application carefully. Warm introductions are beneficial but not strictly necessary.
In recent months, 367 Ventures has continued to expand its portfolio, actively engaging with companies such as Origin and Slate. The firm has also been involved in advisory roles for companies like Vation and Duro, providing strategic guidance to enhance their growth potential. Notably, the firm co-founded Rightpoint, which was successfully acquired by Genpact, marking a significant exit in their investment history.
As of October 2023, 367 Ventures remains focused on identifying and supporting innovative startups that align with their investment thesis centered around data and technology.
What are the investment criteria for 367 Ventures?
367 Ventures looks for early-stage companies with strong and coachable management teams, a focus on customer acquisition, and a commitment to developing next-generation technologies. They prioritize startups that can demonstrate scalable retention strategies and innovative solutions.
How can founders pitch to 367 Ventures?
Founders can pitch their ideas by visiting the 367 Ventures website at 367 Ventures. The firm encourages direct applications through their online platform.
What makes 367 Ventures different from other investors?
367 Ventures combines investment with an advisory model, providing mentorship and strategic guidance to portfolio companies. This hands-on approach allows them to build strong management teams and develop scalable customer acquisition strategies.
What is the geographic focus of 367 Ventures?
The firm primarily invests in North America, with a strong emphasis on the Midwest, leveraging its Madison, Wisconsin base to access underserved deal flow.
What is the typical check size for investments?
While specific check sizes are not disclosed, the firm operates with a hybrid investor and advisory model, suggesting a focus on angel or micro-fund investments.
What is the post-investment involvement of 367 Ventures?
367 Ventures actively engages with its portfolio companies, providing mentorship, strategic guidance, and support in customer acquisition and technology development.
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