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Refinery Ventures

Founders Tim Schigel

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Investments

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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.

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Total investments 20
Average round size
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The average size of a deal this fund participated in
$8M
Portfolio companies 16
Rounds per year 2.86
Lead investments 4
Follow on index
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How often the fund supports its portfolio startups at next rounds
0.20
Exits 1
Key employees 3
Stages of investment
Early Stage Venture

Areas of investment

  • Software
  • Artificial Intelligence
  • SaaS
  • Machine Learning
  • Procurement
Summary

Refinery Ventures appeared to be the VC, which was created in 2017. The leading representative office of defined VC is situated in the Cincinnati. The venture was found in North America in United States.

The current fund was established by Tim Schigel. The overall number of key employees were 3.

The typical case for the fund is to invest in rounds with 4-5 participants. Despite the Refinery Ventures, startups are often financed by M25, Connetic Ventures, Router Ventures. The meaningful sponsors for the fund in investment in the same round are Grand Ventures, Bain Capital Ventures, Wireframe Ventures. In the next rounds fund is usually obtained by Y Combinator, West, South Carolina Research Authority.

Considering the real fund results, this VC is 30 percentage points more often commits exit comparing to other organizations. This Refinery Ventures works on 12 percentage points less the average amount of lead investments comparing to the other organizations. The top activity for fund was in 2019. The fund is constantly included in 2-6 investment rounds annually. The common things for fund are deals in the range of 5 - 10 millions dollars. The top amount of exits for fund were in 2019.

Among the most successful fund investment fields, there are Cloud Computing, Software. Among the most popular portfolio startups of the fund, we may highlight Fooji, ENGAGE Talent, Torch Leadership Labs. Besides, a startup requires to be at the age of 4-5 years to receive the investment from the fund. For fund there is a match between the country of its foundation and the country of its the most frequent investments - United States. The fund has no specific favorite in a number of founders of portfolio startups. When startup sums 5+ of the founder, the probability for it to get the investment is little.

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Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

Redi.Health

B2C
Health Care
$14M28 Feb 2024 Columbus, Ohio, United States

Bitewell

Food and Beverage
Mobile Apps
$4M22 Jun 2023 Chicago, Illinois, United States

FRAYT

Last Mile Transportation
Logistics
$7M11 Apr 2023 Cincinnati, Ohio, United States

StoryFit

Artificial Intelligence
Computer
Machine Learning
Software
$5M20 Oct 2022 Austin, Texas, United States

Redi.Health

B2C
Health Care
$3M31 Aug 2022 Columbus, Ohio, United States

Livegistics

Civil Engineering
Cloud Computing
Construction
Logistics
Software
$6M07 Apr 2022 Detroit, Michigan, United States

Titaniam

Cyber Security
Security
$6M10 Feb 2022 San Jose, California, United States

tealbook

Artificial Intelligence
Machine Learning
Procurement
SaaS
Supply Chain Management
$40M14 Dec 2021 Old Toronto, Ontario, Canada

RedCircle

Information Services
Information Technology
Software
$6M02 Sep 2021 San Francisco, California, United States
News
Enterprise Supplier Data Optimization Company Tealbook Raises $14.4 Million

– Tealbook is a trusted source of supplier data.
– The company raised $14.4m in Series A funding.
RTP Global led the round and joined by BDC Capital, Grand Ventures, Reciprocal Ventures, Refinery Ventures, S&P Global, Stand Up Ventures and Workday Ventures.
– The company plans to use the funds to support the platform’s continued innovation, and drive sales and marketing initiatives further expanding the company’s global footprint.

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Total investments 20
Average round size 8M
Rounds per year 2.86
Peak activity year 2021
Lead investments 4
Follow on index 0.20
Exits 1
Group Appearance index 1.00

Latest deals

CompanyIndustryRound SizeDateInvestorsLocation

Redi.Health

B2C
Health Care
$14M28 Feb 2024 Columbus, Ohio, United States

Bitewell

Food and Beverage
Mobile Apps
$4M22 Jun 2023 Chicago, Illinois, United States

FRAYT

Last Mile Transportation
Logistics
$7M11 Apr 2023 Cincinnati, Ohio, United States

StoryFit

Artificial Intelligence
Computer
Machine Learning
Software
$5M20 Oct 2022 Austin, Texas, United States

Redi.Health

B2C
Health Care
$3M31 Aug 2022 Columbus, Ohio, United States

Livegistics

Civil Engineering
Cloud Computing
Construction
Logistics
Software
$6M07 Apr 2022 Detroit, Michigan, United States

Titaniam

Cyber Security
Security
$6M10 Feb 2022 San Jose, California, United States

tealbook

Artificial Intelligence
Machine Learning
Procurement
SaaS
Supply Chain Management
$40M14 Dec 2021 Old Toronto, Ontario, Canada

RedCircle

Information Services
Information Technology
Software
$6M02 Sep 2021 San Francisco, California, United States
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