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The Venture Codex

Relevance Capital

112 Westwood Place Suite 110, Brentwood, Tennessee, 37027, United States

Overview

Relevance Ventures is an early-stage venture firm, based in Nashville, Tennessee, that focuses primarily on companies providing solutions in two sectors: fintech/enterprise software and health + wellness solutions. Since 2011, Relevance has grown from a public-private partnership with the state of Tennessee concentrated on regional technology investments into a leading investment firm targeting major disruptors across the nation with more than $115M in total assets under management. Relevance is fixated on deploying capital into startups that create positive change for the everyday consumer, empower businesses to reach their full potential, and help reduce the burden on our nation’s healthcare system. The Relevance team is comprised of unique, battle-tested members that have worked in a variety of industries including Fintech, EdTech, CPG, Healthcare and on Wall Street. Their experiences evaluating, expanding, and exiting businesses allows them to establish relationships with founders and industry partners that are built upon robust guidance and strong interpersonal relationships. The firm’s investment mandate and geographic location enables them to anchor deals across the country contributing anywhere from $250K to $2.5M in financing rounds depending upon stage, size, growth trajectory, and the long-term potential of the business. Frequently investing alongside top-tier coastal venture partners, the firm has built a robust, collaborative deal-making network throughout the venture community. The team’s relatively small size enables them to move quickly while leveraging their network to syndicate deals to ensure timely completion. Relevance Ventures is considered an entrepreneur-friendly venture firm focused on creating mutually beneficial opportunities and long-lasting partnerships with founding teams. Relevance’s two principal general partners are members of the Patawomeck Indian Tribe of Virginia, making it one of the few (if not only) Native-owned independent early stage venture firms in the United States.

Total investments
19
Lead investments
4
Investments · 12mo
0
Active investors
5

Sector focus

  • B2B
  • B2C
  • Mobile Payments
  • Payments
  • Therapeutics
  • Wellness
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Investment portfolio

  • Rootine

    Led · Series A · Sep 2022

    Rootine builds precision nutrition products for athletes by combining AI with individual DNA, blood, and lifestyle test results to generate tailored nutrient formulas and precise dosages. Its service offerings include at-home lab tests such as the Rootine DNA Test, Blood Vitamin Test, and Blood Mineral Test. The company reports delivering over 1 million precision multivitamin packs to customers and is used by professional athletes and team registered dietitians. Rootine plans to use new funding to hire talent, forge partnerships, and create new distribution channels. Founded in 2018 by Rachel Soper Sanders and Dr. Daniel Wallerstorfer, the company is based in Nashville, TN. To date it has raised $14.5M. Rootine builds precision nutrition products that combine at-home testing, DNA, blood, lifestyle and activity data to generate personalized micronutrient recommendations and actionable insights. Members access a dashboard with digital health tracking, health data analytics, and precision-personalized daily microbead micronutrients. Rootine’s technology uses AI to ingest and match individual data with thousands of clinical studies to optimize health and human performance. The company reports helping thousands of members, including professional athletes, celebrities, and high-performing individuals across the U.S. Rootine emphasizes a test-take-track process and is developing advanced technology and personalized solutions to improve fitness, sleep, mental acuity, nutrition, and metabolic health. Founded by Rachel Soper Sanders and Dr. Daniel Wallerstorfer, the company is remote-first with headquarters in Nashville, TN.

  • CivicEye

    Participated · Series A · Jul 2022

    CivicEye provides cloud-based software solutions that support public safety professionals, including prosecutor case management software called CivicCase. The company launched as a brand in 2022 after operating formerly as Agisent Technologies and has grown its customer base across the United States. Current customers include small to mid-market police agencies, statewide district attorney networks, and fusion centers. CivicEye plans to expand its operations to meet increasing demand for its cloud software and to broaden its reach across the U.S. The company will invest in product development to further address the needs of law enforcement, court professionals, judges, and other public-safety stakeholders and to help reduce silos across municipal and state governments. The company is led by CEO Khristian Gutierrez.

  • Easyvet Clinic

    Led · Series A · Oct 2021

    Easyvet operates walk-in veterinary clinics offering wellness exams, core vaccines, parasite screening and prevention, microchipping, flea/tick and heartworm prevention, and behavioral and lifestyle counseling. The company franchises a turnkey business model, providing franchisees support in inventory management, financial automation, digital marketing, HR and recruitment, clinical training, facilities, and IT/data reporting. As of May 2022 Easyvet has 19 open locations across eight states and reports 27 additional locations in development across 20 unique markets, with expansion on track to double in size in 2022. The company positions itself as the nation's first walk-in veterinary franchise and focuses on making pet care more convenient and affordable while enabling veterinarians to own clinics. Easyvet announced a $5 million Series A-1 round to support growth initiatives. The company plans to use the capital to grow clinical support resources, expand learning management tools, and improve technologies for franchisee success. Easyvet is a walk-in veterinary clinic franchise founded in 2013 that offers comprehensive primary pet care including wellness exams, core vaccines, parasite screening and prevention, microchipping, and behavioral and lifestyle counseling. The franchise model is designed to make clinic ownership accessible to veterinarians and investors while lowering costs of care for pet parents by eliminating in-house surgeries and partnering with nearby practices for surgical needs. Easyvet also price-checks local veterinary practices in each market to ensure affordable rates and packages. As of the announcement the company comprises 30 franchisees with twelve locations open across seven states and leasing and construction underway for 27 additional locations in Arizona, Florida, Texas, Georgia, Tennessee, Alabama, and Colorado. Management says it will use new capital to grow resources and hires, expand learning management tools, improve the veterinary experience, and invest in technologies to support franchisees. The company reports rapid expansion and was on track to triple in size by 2022.

  • Petabyte Technology

    Participated · Series B · Sep 2021

    Petabyte Technology provides a patient management software platform for veterinary hospitals. Its flagship products are Rhapsody, a cloud-based Practice Information Management System (PIMS), and Boop, a mobile client companion app offering virtual check-in, on-the-go communications, a built-in payment system, and comprehensive wellness plans. The platform is backed by standardized clean data via Petabyte’s proprietary migration technology, The Matcher, which also powers Petabyte Analytics, an enterprise-level analytics platform usable with Rhapsody or as a standalone tool. Founded in 2019 and led by CEO Michael Hyman, the company is based in Bellevue, Washington and maintains additional offices in San Francisco, Cleveland, Naples, and New York. Petabyte intends to use the funds to continue to grow and extend industry partnerships. Petabyte Technology’s flagship product, rhapsody.vet, is a cloud-based enterprise practice management platform designed to help veterinary practices modernize and streamline operations. The platform includes mobile tools, standardized codes and a virtual medical exam to simplify workflows and enable easier transitions to the cloud. Petabyte emphasizes simple design and intuitive usability, supported by robust customer service teams that assist both small clinics and large groups. The company plans to use new funding to accelerate product development and expand its customer service and training capabilities. Leadership highlights include co-founder and CEO Michael Hyman and co-founder and COO Alex Krooglik; Tim Mahlman has joined the board and will act as President. Petabyte says it leverages its team’s experience with large-scale platforms and big data to bring innovations to the veterinary industry. The company has offices in Bellevue, New York, Cleveland, Naples, and San Francisco and positions itself to capture a market where fewer than 10 percent of veterinary practices currently use the cloud.

  • Prepaid2Cash

    Participated · Series A · Jul 2021

    Prepaid2Cash Holdings, Inc. is a Birmingham, Alabama-based leader in the gift and prepaid card redemption space. Launched in 2016 and led by CEO Peter Vogt, P2C enables consumers and business clients to convert gift and prepaid cards (Visa, MasterCard, Amex, Discover) into cash. The company's technology and partnerships allow users to exchange cards and receive cash or Bitcoin directly to their bank account or crypto wallet within minutes. Prepaid2Cash closed a $5.1M Series A financing round. The company intends to use the funds to accelerate customer acquisition and to continue development of its financial technology and feature set. It also plans to hire engineering, product, and operational talent out of its Birmingham headquarters. Prepaid2Cash offers a mobile app that lets consumers scan network-branded (Visa, MasterCard, Amex, Discover) prepaid and gift cards and receive cash via direct deposit in as little as 24 hours or by check in a few business days. The company leverages advanced technologies and partnerships with banking and payment institutions to enable faster payouts than peer marketplaces that require selling to other users. Prepaid2Cash was founded by two financial-technology entrepreneurs in San Francisco and launched to the public in 2016. Since inception the platform has processed millions of dollars in transactions, has thousands of users, and is described as growing quickly. In connection with a recent investment, the company is relocating its worldwide headquarters from San Francisco to Birmingham, Alabama, and its leadership has cited the move as a way to scale, access new customers, and tap regional connections.

Team