VentureSouth completed its investment in MemberHub last week, as the company finalized its Series A investment round of over $3.3 million. VentureSouth structured and originally led the round, investing over $500,000 in the company, and was joined by co-lead AIM Group and others. VentureSouth’s investment in Reveal Mobile, which was also over $500,000, was announced by the company last week.
Both companies are based in Raleigh, N.C. Paul Clark, a VentureSouth Managing Director, noted these investments underscore VentureSouth’s activity in the Triangle, commenting that “while we do not currently have an active chapter in the Triangle, we appreciate the opportunity to invest in the talented entrepreneurs building great companies there. MemberHub joins over a dozen other Triangle-area companies in the VentureSouth portfolio.”
MemberHub is the largest and fastest-growing developer of software for K-12 parent groups, such as Parent Teacher Associations (PTAs), PTOs and boosters. MemberHub helps over 13,000 K-12 parent groups, representing over 2 million parents, engage their communities with communication tools, e-commerce, and virtual fundraising technology, and its new “Givebacks” that allow parents and businesses to support their schools through everyday purchases.
Will Bowen, CEO of MemberHub, added: “We are pleased to complete our fundraising and to have high-caliber early-stage investment firms like VentureSouth and AIM on our team. With the disruptions schools and families are facing, there has never been a more important time for K-12 organizations to use technology to engage and support their communities. MemberHub is custom-built to help all non-profits, especially K-12 groups, and is proud to offer this new technology to help bring back local businesses while directly supporting schools through Givebacks.”
Reveal Mobile provides location-based marketing, analytics, and foot traffic attribution to agencies, brands, and data driven companies. VentureSouth first invested in Reveal in 2017 and is excited to continue supporting the company with additional capital as its growth accelerates.
MemberHub and Reveal Mobile mark the 11th and 12th investments by VentureSouth members in 2020. The group invested $1.4 million in the first quarter, and $1.4 million more during the second quarter so far – a total of $2.8 million into both new and existing portfolio companies. VentureSouth members are continuing the group’s mission of investing in the leading early-stage companies in the Southeast despite the ongoing public health and economics challenges. The company is honored to be able to make positive contributions during these challenging times.
About VentureSouthVentureSouth is one of the largest early-stage investment groups in the Southeast, with more than 300 private investors in 13 local chapters across the Carolinas. The firm has invested nearly $50 million in over 70 companies.