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Contents
Profile
Rachel Friedman
A cultured approach Tenfold’s Rachel Friedman has built a design and business strategy company valued by clients looking to understand what makes their corporate cultures tick. Departments 04 Editor’s Note Pandemic advice for business leaders from a 2-star general.
54 Leaderboard Columbus region nonprofits
56 Office Space: Bailey Cavalieri Shiny new Capitol Square digs.
September 2021
08
Cover design by
Photo Rob Hardin
YOGESH CHAUDHARY Cover illustration by Getty Images
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62 E. Broad St., P.O. Box 1289 Columbus, Ohio 43216 Phone: 614-540-8900 • Fax: 614-461-8746
ColumbusCEO.com
VOLUME 30 / NUMBER 9 Columbus Site Manager
Alan D. Miller Publisher/General Manager
Ray Paprocki E d ito r ia l
EDITOR
Katy Smith associate eDITOR
Jess Deyo CONTRIBUTING EDITORs
Jeff Bell, Linda Deitch
Meet 6 companies you should know more about
They’re growing quickly and attracting lots of venture funding, but many people might be foggy on their next-century business models. Here are the details on Olive, Branch, Path Robotics, Forge Biologics, Loop Returns and Lower.com.
D es i g n & P ro duct ion
Page 24
PRODUCTION/DESIGN DIRECTOR
Craig Rusnak ART DIRECTOR
Yogesh Chaudhary Digita l
EDITOR
Julanne Hohbach ASSISTANT DIGITAL EDITOR
Jack Long
Insider
07 Breakdown
36 Succession planning
New business formations surged during the pandemic.
Companies need to add the “culture quotient” to their formulas when selecting their next top executive.
Ph otog raphy
14 Tech Talk
Tim Johnson
Hair Drop helps barbers and stylists keep clipping away.
PHOTO EDITOR
Associate photo editor
Rob Hardin A dvert ising
Vice President of Sales
Eugene Jackson Senior Multimedia Sales Executive
Tia Hardman, Jackie Thiam CLASSIFIED SALES
Amy Vidrick Production designer
Rebecca Zimmer M arke t ing
MARKETING MANAGER
Lauren Reinhard PRESS RELEASES
pressreleases@columbusceo.com ADVERTISING
advertise@columbusceo.com Columbus CEO (ISSN 1085-911X) is published monthly by Gannett. All contents of this magazine are copyrighted © Gannett Co., Inc. 2021, all rights reserved. Reproduction or use, without written permission, of editorial or graphic content in any manner is prohibited. Publisher assumes no responsibility for return of unsolicited materials. Known address of publication is 62 E. Broad St., Columbus, Ohio 43215. Periodicals postage paid at Columbus, Ohio, and additional mailing offices. POSTMASTER: Send address changes to Columbus CEO, PO Box 460160 Escondido CA 92046
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In-Depth
Special ad sections
16 Briefing PSI’s Keith Stevens branches out with UpRys, and Matriots gets a new CEO in Emily Quick Schriver.
18 Spotlight: Small Business
Business 2021
Despite struggling during the pandemic, dry cleaners Hari and Uma Patel are hoping for a comeback.
Page 43
Reli Solu
20 Spotlight: Nonprofit The Columbus Literacy Council is using online programming to stay connected with those it serves.
BBB A
22 Spotlight: Commercial Real Estate
2020
ReAlpha has ambitious plans to become a force in the short-term rentals space. It’s Plan Airbnb for ReAlpha.
Continuing Education resources Page 49
8/19/21 5:13 PM
Media Sponsor:
LIVE TO LEAD. We live to ensure the Columbus Region is a vibrant place to build businesses and careers. Partners for Regional Growth & Prosperity
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Editor’s Notes * ksmith@ColumbusCEO.com
W
e thought we had left COVID behind. We went back to work. We had parties, ate in crowded restaurants, packed into jubilant bars. On June 2, I took a photo of a group of us out at happy hour— all vaccinated—sheepishly beaming in disbelief that we were together again, unmasked. On Aug. 18, I attended the Columbus Chamber’s first in-person gathering since COVID ushered in the era of the virtual event. It was a timely agenda: Colleen Marshall in conversation with OhioHealth CEO Steve Markovich about his incredible accomplishments—he is an Air Force fighter pilot who has done tours in Iraq, a two-star general and a medical doctor—and about the incredible 18 months we have just lived through. Markovich, with his military training, laid out the scenario for us immediately. Cases of COVID-19 are at levels not seen since December 2020 [when I barely left the house]. At the time of the event, OhioHealth had between 160 and 200 COVID patients in its hospitals, he told us. Then, he went to strategy and weapons: “All we have right now are masks, social distancing and the vaccine,” he says. His mission? Keep his employees alive and healthy, so they can keep all of us alive and healthy, to the extent that we let them. The workforce at OhioHealth—and undoubtedly everywhere in healthcare—is exhausted. Care providers there saw patient deaths increase 500 percent to
Dr. Stephen Markovich, president and CEO, OhioHealth
Courtesy OhioHealth/Stephen Webster
The mission: Keep your employees safe
600 percent, Markovich said. People started to see their loved ones fall ill. And four OhioHealth employees died from COVID. What does Markovich, who earned an MBA from Wright State University while he was waiting around for his Air Force pilot training to commence, advise employers to do to support their teams? “First, you got to have a great leadership team,” he says. “If you’re trying to get everybody engaged, you’ve got to have constant communication. You’ve got to lean on your frontline managers to work with your people.” When data being regularly collected by OhioHealth showed the frontline leadership team was getting burned out, they were offered $250 extra per week to stay home and rest. And to support staff systemwide, the organization created an employee resiliency team charged with making sure people were getting the support they needed to stay healthy. As revenue plunged with elective surgeries canceled and people staying away from hospitals in general, associates were assured no one would be laid off. Bonuses were tripled. Funds from the government paid the bills, Markovich said. This month, the health system joined Ohio State University Wexner Medical Center and Nationwide Children’s Hospital in requiring employees to get COVID vaccina-
tions. Mount Carmel Health System announced its requirement in July. Isn’t that perceived as a bullying tactic by employers, Marshall asked Markovich? “Every employer has to balance that against their workforce needs,” he says. “And I’ll tell you our story. We were watching the clinical numbers and when the curve shifted, that’s when I made the decision that we needed to change the rules around the health system and require employees to get vaccinated. And that’s kind of a misnomer—we’re treating it essentially the same way as the flu. You have to get immunized by Dec. 1, or you have to get tested every week. So it’s not a guarantee you’re fired. “We don’t want to make this a judgmental situation or a punitive situation. There are a number of reasons people fail to vaccinate, their religious or cultural benefits. The goal is to do a better job of informing everyone, to get as many people as possible. The goal isn’t to say, if you’re not vaccinated, you lose your job. If we get to that situation where people are losing their jobs, we all lose.”
Katy Smith, Editor
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Future 50
Class of 2022
Sponsored by:
For a third year, we're excited to honor Columbus' most creative, altruistic changemakers with a program that goes beyond awards. Future 50 is a vehicle for emerging leaders to build a better community and advance Columbus into the pivotal time ahead.
Learn more about the Annual Project, the special section in the January issue and opportunities to connect at ColumbusCEO.com.
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Breakdown Compiled by katy smith + Infographic by Yogesh Chaudhary
May 2021
New businesses were launched in Ohio at dramatically increased rates beginning in the early days of the coronavirus pandemic, mirroring the national trend, Census Bureau data show. People who found themselves laid off as businesses faltered turned to entrepreneurship. Others left jobs where they weren’t happy or launched side gigs amid the work-from-home revolution.
17,164 July 2020
16,791
Monthly new business applications, Ohio
July 2019
7,750
Courtesy Getty Images
Source: Survey of organizations by United Way and Human Service Chamber of Franklin County
(July 2004 - May 2021)
July 2004
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profile By Virginia Brown + Photos by Rob Hardin
Rachel Friedman Founder and CEO
Tenfold and Tenspace Age: 51 In position since: 2014 Previous: Executive vice president, branding and marketing, 3d branding, Continental Office Environments; global accounts manager, Herman Miller; designer, Continental Office Education: Bachelor’s in fine arts-design,
University of Michigan; master’s in business strategy, Ohio State University
Community involvement: Columbus Chamber, Lifesports, Ohio State University Personal: Friedman and her husband live in
New Albany; two children in college (at the University of Rochester and University of Michigan) and one in high school. They have a dachshund-border collie named Summer.
Champion of culture How Rachel Friedman, founder and CEO of Tenfold, blended design talent and strategic vision to build a successful cultural development business.
R
achel Friedman has always been interested in space. A fine arts major at the University of Michigan, Friedman started her career as a designer and, after graduation, went to work at Continental Office in Columbus. There, she created business spaces intended to inspire creativity and increase productivity. But she also learned a lot about the businesses themselves. “One of the really valuable, fun
aspects of being a designer was that I had the opportunity to get introduced to businesses across a lot of different industries,” Friedman says. “To be a successful designer, you want to dig into a better understanding of those business models and company cultures.” That experience inspired her idea of the workplace as a strategic business tool. In 1998, she left Continental for a job at Herman Miller, a design and furnishings company headquartered in Michigan. As global accounts manager, she managed a portfolio of some of the company’s largest Fortune 500 clients, working to align their workplace and business strategies. “Seeing all of those kinds of companies and organizations awakened a curiosity that I had around business,” she says. “Throughout my roles, my mindset was very entrepreneurial: I wanted to better understand how I could create a value proposition that was compelling for these companies.” Another benefit at Herman Miller: full coverage of employees’ education. “When I heard about that, my ears perked up,” she says. While employed full time, she applied to Ohio State University’s Fisher College of Business, where she enrolled in 1999. “I had a toddler; I was pregnant with my second; and I was working full time,” she says. “It was definitely rigorous.” Jay Barney, chair of Fisher College’s strategy department at the time, who’s now at the University of Utah, had a lasting effect. “The minute he started to lecture about business strategy, I thought, This is me. This is the way my brain works,” Friedman says. “That’s when I realized, at my core, that I thought I was a designer, but I was a strategist.” A business degree under her belt, she eventually left Herman Miller and took a job as the vice president of marketing and sales with her previous company, Continental. “Part of my role there was to think about how we differentiate in a really competitive industry,” she says.
Rachel Friedman
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While there, in 2006, she came up with the idea for Tenfold. “That’s where I got the whole idea of what that suite of services could be: leveraging space as a medium to communicate the brand and culture story,” she says. She thought about launching her own company, but felt torn with the demands and responsibilities at her job. Barney, who continued to mentor Friedman, challenged her to spend more time on her own venture. “He said, ‘I can hear the passion in your voice. You need to be doing this full time,’” Friedman says. “So many entrepreneurs roll out of their college dorm room as entrepreneurs,” she says. “My path was very different.”
Tenfold is born In 2014, 22 years into her career, Friedman launched Tenfold, a strategy and creative firm that researches and unveils brands’ culture and reflects that culture through their space. Clients have ranged from ESPN and NBCUniversal to Big Lots and Huntington National Bank, among many others. “When I would sit down with leaders to help brand their space, they would say, ‘Our culture is our secret sauce,’” Friedman says. “I would say, ‘That’s amazing, tell me more, so I can use it for inspiration.’” Most leaders couldn’t say exactly how or why. “They just had a feeling,” she says. Friedman took those feelings and, through a blend of qualitative and quantitative research, dug deeply into what made the brand tick. “If we can’t name it and articulate it, then how can we protect and reinforce
So many entrepreneurs roll out of their college dorm room as entrepreneurs. My path was very different. Rachel Friedman, Founder and CEO, Tenfold and Tenspace September 2021 l ColumbusCEO
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Rachel Friedman
Q&A
With the future of the workplace in flux—how much space will we need? How will people use it?—Rachel Friedman wrote a 17-page white paper called “Culture in the Flexible Workplace.”
What does your paper say about how office space will be used going forward? It goes through a pretty extensive point of view around what purpose the build environment needs to serve. Moving to a post-pandemic era, especially since now people are given a lot more choice and flexibility about where they want to work, if people want to be isolated and be engaged in heads-down work, then they need to work from home. And so why, then, should they want to come into the workplace? It’s all about connection and how we reimagine and repurpose spaces to drive the types of interactions you miss when you’re working from home. You say tiny interactions at the office carry great cultural significance. Can you elaborate? I spent a lot of time talking about those mi-
cro-interactions that you have at the office—spontaneous interactions that really have an impact on really important dimensions of company culture: coaching and mentoring, learning and training, innovation, building trust and authentic relationships; feeling connected to the mission and vision of the organization. So without a physical place to be, you really struggle to hit on those important dimensions of healthy company culture. What about digital interactions? So what we’re encouraging companies to do is to be very strategic and intentional and really think about the experience they’re trying to create for their employees, but also not ignoring the digital channel. Over this period of time during COVID, where we were disconnecting physically … the hits you’re taking on company culture aren’t
traumatic things … they’re the small, little chipping away [parts] of your culture that you don’t see. It’s like watching your kids grow: You don’t notice the changes day to day, but six months from now, [you see the change]. That’s what I think is happening with organizations. They’re not going to see what’s happening until it’s too late. What’s the reaction been from people who read the white paper? The kinds of businesses that get what we do see how important the built environment is. They’re not saying that the physical workplace is going to be what it was before COVID, but they are saying that they realize how important the physical environment is, and that [they] need to make sure [they] leverage their investment in real estate to help build, preserve, and drive company culture.
what makes you great?” she says. Her team, which now includes 21 people, works with clients on language, to first be able to create a message and then find the best ways to drive it forward. “Then we create experiential activation aligned with the whole brand and culture story,” she says. Tenfold also works with clients on succession planning and strategic or generational leadership changes, providing leaders with a blueprint of the key ingredients of their company culture. One early culture practice client was Hot Chicken Takeover. Owner Joe DeLoss was a peer advisor and friend whom Friedman met as part of a group called Vistage, a coaching and peer advisory organization for smalland midsize business leaders. “Rachel has an ability to listen to a business like no one I’ve ever met and put a pulse on what’s happening,” says DeLoss. “It’s really remarkable.” At the time, his restaurant had grown from its initial location to three in a nine-month span. “Everything was broken,” he says. “We put ourselves under a dramatic amount of strain and stress associated with what we were building, and our team and culture dramatically shifted.” He engaged Friedman and the Tenfold team. “We wanted to better articulate and understand what kind of magic was happening at Hot Chicken Takeover from a culture perspective,” DeLoss says. Friedman stepped in and started to identify and correct broken or nonexistent systems. “She held stakeholder meetings with everyone on our team—people with varying levels of responsibility— and synthesized [the data] down into key trends and takeaways,” he says. “They were immediately actionable, and in the months that followed, we were able to recalibrate and invest in systems we needed.” Today the popular chicken chain can be found in seven locations throughout Columbus and Cleveland. “A lot of that foundational work, Rachel helped inform,” DeLoss says. “It was the first time, in a sophisticated way, that we looked at what we were building. Prior to that, it was about intuition.” Big Lots once was a breakthrough
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supporting SERIOUSFUN CHILDREN’S NETWORK
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Tenfold brand, and one of the largest headquarters projects in the city. “We went up against some large national firms,” Friedman says. “I look back, and still can’t believe that they hired us as a team of four—that really propelled us in the direction we wanted to go.”
The vision expands In early September, Friedman took the principles she learned in branding into retail with the
Tenfold
launch of Tenspace. Tenspace is an ever-changing, brickand-mortar store in the Short North that will share stories of rising online brands with the public in an interactive, experiential format. Every two months, the space is transformed to immerse customers with new brands. Web Smith, founder of 2PM, a subscription-driven media and ecommerce company, was integral in the Tenspace launch. Smith met Friedman at a forum through Entrepreneurs’ Organization, a global network for entrepreneurs. “I’ve long believed that people should know who she is and what she does,” Smith says. “She has done a wonderful job helping large corporations identify their cultural touchpoints, and she expresses those through interior design.” With Tenspace, Friedman has created a space for online companies to execute pop-up strategies. “Oftentimes, those spaces aren’t very well designed, and they’re not very interesting or intriguing to the customer,” says Smith.
[Friedman] has done a wonderful job helping large corporations identify their cultural touchpoints ... Web Smith, founder, 2PM
“Either they lean too heavily on the art side or too heavily on the retail side. What Rachel is building is a combination of both.” When Friedman was looking for brands that would fit the Tenspace mold, she looked to Smith. “I had the opportunity to work with her in identifying the brand and convincing the brand to work with her,” he says. Her first customer was Rudis, a long-established wrestling apparel and equipment brand based in Marysville founded by three Ohio State wrestlers. “The beauty of Rudis is that it’s steeped in storytelling, which makes Rachel’s job a lot easier,” says Smith. “There’s a lot you can do with the story, both in the name and the history. It’s going to be a pretty rich display, and I’m really excited to see it.” Inside, customers will be able to view things, experience and purchase goods. “It also drives more attraction to the actual website so the entire store is essentially going to be an Instagram-able experience that will generate a lot of user-generated content for these retailers,” says Smith. “There isn’t another platform that can really do that. Not for individual brands.” Whether in branding or leadership changes or cultural shifts, one thing Friedman says is a common thread with her clients: “The types of clients that hire us are really good leaders; they take brand and culture very seriously.” Virginia Brown is a freelance writer.
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Tech talk
Getting it done
Hair Drop is making life easier for stylists with one-hour delivery of beauty supplies.
A
Columbus founder has a cutting-edge solution for an old trade—the hair and beauty industry. Maurice Womack, co-founder of San Francisco-based Simplr, STEM education company Oasis and more recently, the online learning platform Wokanda, sees a future in rapid delivery of hair and beauty supplies. Womack says he got the idea from speaking with his younger brother, a recent barber school grad. Always looking for ways to apply
Courtesy Hair Drop
Hair Drop
Hairdrop.app Co-Founder/CEO: Maurice Womack Business: One-hour delivery of hair and
beauty supplies Employees: 4
Investment to date: $40,000 from angel investors Launch date: May 1
tech to old problems, Womack asked his brother if he was finding any pain points in his new career. His brother pointed out that barber shops often run out of product in the middle of the day and have to take time away from the chair to run out and purchase more. “If you’re not there cutting, you’re not getting paid,” Womack says. “We did market research, talked to other stylists, and I built the technology.” Hair Drop’s soft launch came in May. With one-hour delivery of hair and beauty supplies, the company is already selling more than 700 different products through its website and app, which is available for both Apple and Android platforms. Womack says Hair Drop is starting out with a focus on African American beauty supplies because the community spends significantly in that sector, and his research says the best way to get a foothold in the industry is through stylists and barber shops. Right now, Hair Drop is working in partnership with a local beauty supply distributor and some contract drivers, but sooner than later, Womack says, “Our goal is to own the entire vertical.” “We don’t just want to be a delivery service. Beauty products have a hefty margin. We want to take advantage of that, pass savings on to the consumer and from the convenience standpoint, go above and beyond what’s out there in hair and beauty.” This summer, Hair Drop became one of Rev1 Ventures Startup Studio’s latest clients. Womack says his team is looking at Hair Drop as a high-growth startup, aiming to raise venture capital to hire a network of drivers and build warehousing and distribution infrastructure. The team has some heavy hitters already on board. Hair Drop’s COO is James Ross III, formerly Walgreen’s director of pharmacy and retail. Erica Womack, founder of Black Gurl Institute, is the community engagement officer. Maurice Womack says that position is key because the company is
Courtesy Kevin Fitzsimons
By Cynthia Bent Findlay
Dhabaleswar Panda
Future of AI lands at OSU Ohio State University is now home to two new research institutes aimed at advancing the United States’ artificial intelligence capacity. The institutes are part of a $220 million initiative funding 11 new National Science Foundation-led National Artificial Intelligence Research Institutes. This builds on a first round of seven AI institutes totaling $140 million that were funded in 2020. The NSF is working to build a strong domestic AI research and development ecosystem to foster innovation across industries, encouraging public/partnerships in research, commercialization and workforce education. The AI Institute for Intelligent Cyberinfrastructure with Computational Learning in the Environment (ICICLE) will concentrate on the next generation of cyberinfrastructure and is led by OSU professor Dhabaleswar Panda. The AI Institute for Future Edge Networks and Distributed Intelligence (AI-EDGE) will focus on advancing AI innovation throughout mobile and stationary devices, wireless and wired access, and computing and data servers. It is led by OSU professor Ness Shroff. working to spread Hair Drop’s name and also goodwill by giving back from day one. Hair Drop is already working to spend marketing money with organizations that impact underserved communities such as Eryn Pink, for instance, working to empower girls in Columbus. Cynthia Bent Findlay is a freelance writer.
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briefing By Katy Smith And Jess Deyo
Matriots names new CEO Endorsements by the womenled PAC for fall races are underway.
O
hio isn’t dead last among states when it comes to women in elected office, but it’s not that far from it, at No. 39. Here, 26.5 percent of mayoral and council positions are held by women, according to Rutgers University research from 2021, while 31 percent of statewide officeholders were women. The Matriots, a Columbus-based political action committee (PAC), would like that to be at least 50 percent. To lead the way, it has hired its first full-time CEO. And for the first time since it launched in 2017, this fall it is endorsing candidates in every kind of non-judicial race, from school boards to village councils to township trustees and state senate seats. Emily Quick Schriver comes to the top role at the Matriots with a history of activism — she joined the Women’s March on Washington in 2017 — and service as an attorney.
Columbus Dispatch/BARBARA PERENIC
Emily Quick Schriver
The new CEO most recently was assistant vice president and senior associate general counsel at Ohio State University. The Matriots, which has a $750,000 budget this year, includes more than 1,800 members in more than half of Ohio’s counties. Schriver will be able to capitalize on a wave of women engaging in the political process at historic levels. For a candidate, an endorsement from the organization means financial support, introductions in its influential network and general support. The Matriots has endorsed 248 candidates with a win rate of 59 percent since 2018 — Democrats, Republicans, independents, Greens and
Libertarians. Candidates must align with its values, which are economic empowerment, equity and independence, women’s access to health, education for women and families, and safe communities to live and raise families. “The political process right now, there are so many challenges with it. We’re at a lot of loggerheads with each other. And if we were to distill things back to what we what we value, core principles that we value as people, I think we’d get a little further,” Schriver says. Schriver resides in northwest Columbus with her husband, John Schriver, and their three daughters. –Katy Smith
Keith Stevens
File/Columbus CEO/TIM JOHNSON
Consulting firm UpRys uproots traditional business models Former Columbus Chamber chair Keith Stevens is targeting nonprofits and small businesses with his next venture, designed to breathe life into tired company routines. UpRys is a business consulting firm and sister company to his first business, Proteam Solutions, founded in 1992, and is led by president and CEO Anthony McIntosh. It hopes to offer an affordable solution to companies looking to focus on their mission
and less on non-core business processes, Stevens says. The inspiration came over years with Proteam Solutions, where Stevens observed that while years flew by, business models at small organizations could be weak or inherited and couldn’t be sustained through economic downfalls. “My whole thought process is if you’re not solving a problem, you really don’t have a business,” Stevens says. “We know
there’s problems out there for us to solve, and we’re proving that on a day-to-day basis.” UpRys offers a competitive edge: Its services are 30 percent to 40 percent cheaper than its competitors, Stevens says. The venture already has clients, including Alvis, Workforce Development Board of Central Ohio, IMPACT Community Action, Columbus Metropolitan Library and Southside Early Learning. –Jess Deyo
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spotlight By Sarah Donaldson + Photo by Rob Hardin
Small Business
Trying to stay positive
The dry cleaning industry, including Neighborhood Cleaners, has taken a serious blow during the pandemic.
F
or the first three months of the pandemic, Hari Patel sat inside his silent storefront every day. Sometimes, he sat with just a single light on. With business at “near zero,” he was waiting for somebody to walk through the glass doors; for them to set off the ‘chirp, chirp,’ of the alarm above the silver frame, with fabric in tow that needed care and attention. Hari and Uma Patel own Neighborhood Cleaners in Upper Arlington. They immigrated from England in 1995 and opened their dry cleaning, laundry and tailoring business two years later, in the same location it stands today.
“We never missed paying her rent until the pandemic hit. [The landlord] has patience.” Hari Patel, owner, Neighborhood Cleaners
Neighborhood Cleaners 2140 W. Henderson Road, Columbus 43220 Owners: Hari and Uma Patel Business: Dry cleaning, laundry and
tailoring services.
Annual revenue: Would not disclose
But more than two decades later, in the early months of 2020, Hari Patel did what he could to make the time go by. Patel washed dentists’ and doctors’ scrubs, who were initially hesitant to take their uniforms into their homes; they feared passing the virus along to the people they lived with. “I never closed my doors for one day at all,” he says. But the snaking metal racks once full with dangling plastic-wrapped charcoal suits and floral dresses were nearly empty then, and they still have plenty of room now. A “normal” flow of business hasn’t really returned. “It should be full on Friday,” Patel says. “I should be working, actually, on Friday.” Instead, Hari and Uma Patel run the machines twice a week, as opposed to five days a week pre-pandemic. It’s not just Neighborhood Cleaners that felt the sting of the last year and a half. Dawn Avery, who works in digital marketing and IT for the National Cleaners Association, says that while other industries have seen business return in recent months, many of its members haven’t. Patel says revenue was fairly aver-
age before March of last year, but that they also had seen a decline in business for several years. With the rise of fast fashion brands and the growing trend of younger professionals dressing more casually, the pandemic accelerated something already in motion, Avery says. Amid such trends, dry cleaners have been left out to dry. The national association believes one in six dry cleaners will close, while the Dry Cleaning and Laundry Institute estimates that the industry will shrink by nearly 30 percent. Some of this is due to an aging population of dry cleaners retiring earlier as a result of the pandemic. But for cleaners who rent, commercial evictions might mean a death sentence. Paying rent has been a challenge for Patel. He says the shop’s landlord has been extremely understanding, but he and his wife have to pull from their pockets to pay. “We never missed paying her rent until the pandemic hit,” Patel says. “She has patience.” In July, the shop’s door chime was chirping slightly more often. It was a welcome relief for the Patels. One Friday afternoon, the door chime announced Brent
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Hari and Uma Patel
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Coakley’s entrance. “Hari and Uma!” Coakley calls out. “Good seeing you guys.” Coakley, who lives in Dublin, works across the street as a senior vice president for wealth management at the Upper Arlington branch of UBS. He was referred by a colleague to Hari and Uma over a decade ago, and the rest was history. “If you meet them, in two minutes you know,” Coakley says. “Every time I come in here, they’re working.” Coakley is back in his office, but not full-time. Patel, who knows most of their customers by their first and last names, says he only started seeing Coakley regularly again in the last few weeks. Patel worries about his own store, but he also worries about a domino effect—businesses that produce polythene bags for clothing, and businesses that produce hangers are hurting, too, he says. Avery is optimistic that dry cleaners will rebound. And in Upper Arlington, Patel says they haven’t hit a breaking point. “I think, this is America,” Patel says. “So we will come back.” Sarah Donaldson is a senior journalism student at Ohio University. September 2021 l ColumbusCEO
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spotlight By Jess Deyo + Photo by rob hardin
Nonprofit
Creating connection The Columbus Literacy Council is enabling underserved communities through language lessons and professional programming.
“L
et him read it his way.” Joy Reyes was a little girl, only 3 or 4 years old, but remembers her parents telling her to let her grandpa, an immigrant from Sweden, read “his way.” Though she knew the plot of the stories he read, he told the tale
“The lives that we’ve touched through the years … I think that’s why we’re important here in central Ohio.” Robert Esomar, the director of volunteer services, Columbus Literacy Council
Columbus Literacy Council 92 Jefferson Ave., Columbus 43215 clcworks.org Locations: Courtright Road, Jefferson Avenue and Chantry Drive in Columbus, and Coffey Street in Cincinnati Mission: To increase employability, enable
future education, encourage civic involvement and promote family stability and support.
Employees: 35 Revenue: $2.8M in 2020 Funding: Contracts 65%, government 15%,
grants 13%, donations 6%, United Way 1%
Joy Reyes, CEO, and Robert Esomar, Director of Volunteer Services for Columbus Literacy Council differently, and she wasn’t sure why. The answer came when a high school literacy lesson brought that memory up for Reyes, whose parents later told her, “He could not read.” Though she had her answer, Reyes wasn’t bound to tuck her findings away in the back of her mind. Instead, she has dedicated her life to changing the community through her role as CEO and director of strategic initiatives for the Columbus Literacy Council, the 51-year-old nonprofit that serves underserved communities. “It really hit home with me,” Reyes says. “When I saw the opportunity [to join the organization], I really felt like this was a great way for me to make a contribution to the community.”
The Columbus Literacy Council offers programs and services for children and adults ranging from etiquette lessons to a citizenship preparedness course and a GED attainment program. Core English lessons are for those who cannot yet speak English, and those who do but need assistance with reading and writing. The organization also offers American Sign Language, Spanish and Russian on a rotating basis each year. In 2020, the nonprofit had $2.8 million in revenue. While other organizations offer similar services, the Literacy Council offers it all under one roof, Reyes says. “What we find is that immi-
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GALLERY HOP
I N T H E S H O RT N O RT H A RTS D I ST R I CT
Artwork: Mark Gingerich, Brandt-roberts Galleries
grants find us,” Reyes says. “And they’re coming to us for a spectrum of services.” The organization has four offices, three in Columbus and one in Cincinnati with a combined total of 35 paid employees and around 100 volunteers this year. A full staff is usually around 48 employees with 300 volunteers, but COVID-19 took a toll on the organization, Reyes says. There are currently nine open positions. Despite a staff shortage and strict CDC guidelines in the wake of the pandemic, Reyes and her team took no time off in establishing a 2020 action plan: CLC Connect. The team began using Zoom last March to bring all its offerings online and even added new programs like cooking shows and game shows while posting content on YouTube and Facebook. The brains behind much of the online platform came from Robert Esomar, the director of volunteer services who has been with the organization since 2013. While in-person activities have resumed, he doesn’t see CLC Connect going away anytime soon. “A positive thing that we noticed, even though it was virtual, was that there was still a lot of participation,” Esomar says. Within a few months of establishing CLC Connect, the nonprofit managed to host its annual “Marvel*US’’ kids summer camp online last year. The camp is for kids ages 5 to 13 and analyzes the social and emotional aspects of popular superheroes while providing other educational activities. It’s Reyes’ favorite program. Despite being online, the camp had 92 participants last year. This year, it will be held in person in Reynoldsburg with 45 campers. The organization has a waitlist of around 100 children, Reyes says. While participation is free, the team is talking about creating a paid option to allow for more attendees. Reyes says the nonprofit wouldn’t be where it is today without the community’s immigrant population. For both her and Esomar, the experience has been life-changing. “I think it’s so incredible,” Esomar says. “The lives that we’ve touched through the years … I think that’s why we’re important here in central Ohio.”
SAT U R DAY, S E P T E M B E R 4 STA RT I N G AT 1 : 0 0 P M
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spotlight By Jim Weiker + Photo by Courtney Hergesheimer
Commercial Real Estate
Plan Airbnb ReAlpha is looking to buy 15,000 short-term rentals within five years.
A
Dublin startup is planning to buy up to $1.5 billion in homes with the goal of becoming the nation’s largest owner of shortterm rental property. The company, called ReAlpha, is seeking to reinvent the industry by allowing individual investors to own shares of specific properties that would be rented through Airbnb. ReAlpha hopes to buy at least 15,000 Airbnb homes within five years, starting in the U.S. but eventually extending across the globe. “In the next few years, we hope to
“In the next few years, we hope to be the largest owner of Airbnb properties. There are 660,000 U.S. properties on Airbnb. There’s no clear leader.” Giri Devanur, CEO, ReAlpha
ReAlpha 6515 Longshore Loop, Suite 100, Dublin 43017 realpha.com Business: Startup planning to buy up
to $1.5 billion in homes with the goal of becoming the nation’s largest owner of shortterm rental property.
CEO: Giri Devanur Lead investor: Brent Crawford Launching: 2021
be the largest owner of Airbnb properties,” says ReAlpha Chief Executive Officer Giri Devanur. “There are 660,000 U.S. properties on Airbnb. There’s no clear leader.” The company says it is raising $75 million privately for the venture by selling 7.5 million shares at $10 each. The largest initial investor is the Dublin development firm Crawford Hoying, which has committed $6 million to the project. “The short-term rental space is growing rapidly,” says Crawford Hoying founder and principal Brent Crawford, whose firm developed Bridge Park in Dublin and other mixed-use properties. “It’s a natural fit for us; we’re already in the real estate and hotel industries.” Devanur, who moved to central Ohio late last year, came up with the idea for ReAlpha after a friend asked him advice on investing in a rental property. He saw ReAlpha as a perfect fit for his technology background and Crawford’s real-estate expertise. While institutional investors have bought thousands of U.S. homes for monthly rentals, Devanur and Crawford says they know of no Airbnb “host” or investor who owns more than a few hundred short-term rentals. “No one has consolidated in this particular space yet,” Crawford says. “Just because it’s never been done doesn’t mean it’s not a good idea.” ReAlpha plans to supplement the $75 million raised privately with $75 million from small investors who would buy shares of individual properties starting with as little as $2,500. ReAlpha would own 51 percent of each property. “Our business model would generate wealth and democratize real estate investing,” says Devanur. The combined $150 million would allow the company to purchase $1.5 billion in property, assuming a 10 percent down payment. The ultimate goal would be to take the company public. Devanur and other ReAlpha executives see a need for professionally managed Airbnb homes that would
Giri Devanur, left, CEO of the Dublin startup ReAlpha, with one of ReAlpha’s largest investors, Brent Crawford, a partner in the Dublin development firm Crawford Hoying. offer consistency from property to property, even down to the scent. “We want to create a ReAlpha experience for consumers,” says ReAlpha Chief Marketing Officer Christie Currie. ReAlpha homes, for example, might include a ReAlpha branded map or consistent color themes or furnishings. The company plans to lean heavily on technology to purchase and manage the homes. “We are using technology to help us disrupt this industry,” says Devanur, who founded the technology services firm Ameri100 in 2013 and took it public four years later. Homes would include keyless locks, for example, eliminating the need to exchange physical keys. Other possibilities include noise sensors that would alert tenants if they are too loud, or exterior cameras that would provide an alert if more people are in the home than allowed. ReAlpha outlined its business plan in May in a filing with the Securities and Exchange Commission. The company is still awaiting SEC approval before it can go live, but has started acquiring homes including 40 in the Dallas area and several others in greater Miami. The company is also pursuing properties in metropolitan areas in
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California, New York, New Jersey, Colorado, Washington and Illinois. ReAlpha is seeking properties with strong year-round demand in cities large enough to support at least 100 properties to allow them to be efficiently managed. Company executives say homes can earn far more rented short-term than they can rented by the month. They cited one of their Dallas properties which rented for $1,400 a month in a long-term lease but now generates about $3,000 a month in short-term stays. According to Airbnb, which declined to comment on ReAlpha’s plans, the average Airbnb home generated $9,600 in revenue in the 12 months ending April 30. Big returns-on-investments have drawn the attention of institutional investors to the short-term rental industry, says Scott Shatford, the founder and CEO of AirDNA, which analyzes the industry. At least one major real estate firm, Roofstock, which helps individuals invest in rental properties, is looking to convert some properties into shortterm rentals, he says. “Institutional money is very interested in this,” Shatford says. “The yields are great. You can make as much in a week’s time as you can in a month with a long-term rental.”
The company confirmed its interest. “Roofstock ... is continuing to build and expand our offerings to support all real estate investors, including those who are looking for opportunities beyond long-term single-family rentals, and adjacent offerings, such as short-term rentals, are in our consideration set,” the company says in a statement. Still, Shatford says, the strategy comes with a lot of challenges starting with finding properties, which are in huge demand. “It’s going to be a struggle, inventory is so constrained now in the rental market,” he says. ReAlpha is identifying properties to buy using in-house technology called reAlphaBRAIN that examines 28 criteria such as crime, walkability and proximity to attractions. The firm is also seeking properties with a strong opportunity for appreciation to allow the homes to be easily sold if cities restrict short-term rentals, as several cities have done, including San Francisco, New York, New Orleans and Honolulu. “We can analyze thousands of properties within a minute,” says Devanur. ReAlpha is working with several partners to find the properties, most of which, such as banks, property “wholesalers” and investors, deal in multiple properties at a time. While
some properties may be rent-ready, ReAlpha expects to remodel many of the houses it buys. “We’ll be buying dozens or hundreds at a time, in portfolios of 50, 60, 100 homes,” Crawford says. “We can move very quickly.” Investors would receive quarterly income dividends and build equity in properties, according to the plan. They would also be allowed to stay in the properties in the off-season for a number of days depending on how much they invested. Shatford, with AirDNA, is intrigued by ReAlpha’s idea, and says his firm has had discussions with ReAlpha on trying to predict revenue for properties it might buy. But, he says, the strategy comes with a lot of challenges. “Short-term rentals can be very difficult to manage,” he says. “Having 50 people checking into property in a year instead of one is a big difference.” Managing thousands of properties compounds the challenge. “It’s a different beast to do it at scale,” he says. “There’s so many complications. It’s a herculean task.” Still, he added, “Do they have an opportunity to scale this? Absolutely. Absolutely.” Jim Weiker writes about real estate for the Columbus Dispatch. September 2021 l ColumbusCEO
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to know—and what they do, in simple terms.
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I
By Tim Feran t’s been one heck of a ride over the past few years for six central Ohio startups that are using technology to provide remedies for business problems both old and new. All of them have followed the simple advice to entrepreneurs in creating their businesses: “Find the pain.” Whether it’s creating robots that can learn to work as welders, or answering the need for manufacturing gene therapy products, or simplifying healthcare paperwork or providing cheaper and easier ways to get loans, insurance policies and retail merchandise returns, all six companies have found a niche and are growing rapidly. Venture capital firms have taken notice and are lining up to pump money into these six companies to fuel further growth, with the lowest total investment at $75.5 million and the highest at a whopping $902 million. That should ease a lot of pain. Here are the Emerging Six, in no particular order:
Loop Returns 797 N. Wall St., Columbus 43215
LoopReturns.com
Path Robotics 528 Maier Place, Columbus 43215
Path-Robotics.com
Lower.com 8131 Smiths Mill Road, New Albany 43054 • lower.com
Forge Biologics 3900 Gantz Road, Grove City 43123
ForgeBiologics.com
Olive AI 99 E. Main St., Columbus 43216
OliveAI.com
Branch Insurance Illustration by Yogesh chaudhary & Getty Images
20 E. Broad St., 12th floor Columbus 43215 • OurBranch.com September 2021 l ColumbusCEO
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File/ColumbusCEO/Rob Hardin
Loop Returns 797 N. Wall St., Columbus 43215
LoopReturns.com Founded: 2016 Business: A software company that handles the costly and inefficient process of retail/e-commerce returns. Top officer: CEO Jonathan Poma Employees July 2021: 92 Projected employees by July 2022: 180 Projected 2021 revenue: Would not disclose Investment to date: $76 million, from CRV venture capital firm, e-commerce company Shopify, venture capital firms Renegade Partners, FirstMark Capital, Peterson Ventures, Lerer Hippeau and Ridge Ventures private equity firm. Late July 2021 valuation: $340 million
T
he dirty little secret of online retail is that roughly 30 percent of merchandise is returned — which can mean a huge chunk of money for tight-margin retailers. Customers aren’t thrilled with the hassle either, and studies indicate that difficult returns are the main reason shoppers leave retail websites without buying. Loop Returns was created to ease that pain. “We believe that post-purchase is the next frontier of commerce,” says CEO and co-founder Jonathan Poma. “The post-purchase journey is where brands and customers will build relationships with one another, and it’s where we’re focused — on love after purchase.”
ColumbusCEO/Rob Hardin
Loop Returns’ Downtown Columbus office What problem is this company trying to solve? Returning merchandise is costly and difficult for both customers and online companies. Who are its customers? Nearly 800 companies that sell merchandise online, especially retailers on Shopify. How does it make money? Loop charges the online companies for its services. How fast is this company growing? The company has grown in the past couple years to 92 employees from 20, to serving 700 online businesses from 200, and to more than $100 million in returns processed from $26 million. As the company says, “Over the last 12 months, annual recurring revenue tripled, employee and customer count doubled. Over the next 12 months, annual recurring revenue will double again.” What’s the story of its founding? Poma was working at an agency and consulting with a big Shopify brand to help them with returns and exchanges. He partnered with longtime friend Corbett Morgan to start Loop Returns.
Jonathan Poma
ColumbusCEO/Rob Hardin
What’s the story behind its name? The company describes “the complete loop” as customers finding an online company easily, loving all its products every time and coming back again and again. But the loop breaks because customers don’t always order the right versions of the products. Loop Returns aims to keep those customers happy and restore the complete loop. What will this company look like in one year? Five years? 10 years? The company’s 36-month vision is, “Innovating between the return and the refund, Loop will build a multi-billion dollar ecommerce infrastructure business by 2024.” And, it says, “first thing’s first, Loop will be a 200-plus person, remote-first organization, building the market leading, exchange-first returns platform for Shopify’s best brands.”
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Path Robotics 528 Maier Place, Columbus 43215
Path-Robotics.com Founded: 2014 Business description: Path produces autonomous welding robots that use proprietary artificial intelligence and computer algorithms. Top officers: CEO Andy Lonsberry, Chief Technology Officer Alex Lonsberry Employees July 2021: 103 Projected employees by July 2022: 160 Projected 2021 revenue: $27 million
File/Columbus Dispatch/Adam Cairns
Andy Lonsberry
What problem is this company trying to solve? A shortage of skilled welders, which the American Welding Society predicts could reach 400,000 by 2024. Who are its customers? Manufacturing companies in need of welders. How does it make money? Path sells its autonomous robots to industries that want to automate their manufacturing plants. How fast is this company growing? The company started 2020 with 20 employees, is currently at just over 100 and plans to be over 200 in a few years. It is rushing to fill an unmet need in the manufacturing industry and has added a second manufacturing space in Columbus. What’s the story of its founding? While working on their doctorates at Case Western Reserve University, the Lonsberry brothers developed the “world’s first truly autonomous robotic welding system,” that identifies what needs to be welded, welds it and learns along the way. What’s the story behind its name? In the world of robotics, “path-planning” is what robots do to find a collision-free way of going from one place to another, something that humans do with ease. So “Path Robotics” is the appropriate name for a company that builds robots that can accomplish on their own a physical task like welding. What will this company look like in one year? Five years? 10 years? Path sees growth beyond welding. “Most robots merely repeat what they are told, with no ability to improve themselves. The future of manufacturing hinges on highly capable, flexible robotics,” CEO Andrew Lonsberry said in a statement. “Robots that can truly see and learn.”
Investment to date: $171 million from New York City investment firm Tiger Global, Silicon Valley Bank, Silicon Valley venture capital firm Lemnos Labs, Columbus venture capital firm Drive Capital and New York City venture capital firm Addition Capital. Late July 2021 valuation: N/A
N
Courtesy Getty Images
ot everyone welcomes our new robot overlords, but manufacturers in need of welders just might — or at least the autonomous welding robots from Path Robotics. While working on their doctorates at Case Western Reserve University, brothers Andy and Alex Lonsberry developed the “world’s first truly autonomous robotic welding system,” that identifies what needs to be welded, welds it and learns along the way. The welding robots are hardly there to replace humans, though. In fact, the robots are an elegant answer to a growing shortage of human welders. And, thanks to the proprietary technology the Lonsberry brothers developed, their robots will be able to learn how to do other tasks in addition to welding. September 2021 l ColumbusCEO
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Lower.com
The Columbus Crew at Lower.com Field
8131 Smiths Mill Road New Albany 43054
Lower.com Founded: 2014 Business: A digital one-stop shop for homebuyers and homeowners, allowing customers to save for a home, find a real estate agent, get a mortgage, refinance an existing mortgage and obtain home insurance. Top officer: Dan Snyder, co-founder/CEO Employees July 2021: 1,700 Projected employees by July 2022: 2,500 Projected 2021 revenue: $300 million Investment to date: $100 million, led by California-based venture capital firm Accel. Late July 2021 valuation: N/A
T
he power of technology is behind the startling growth of “the best-kept secret in town,” Lower.com. The online service for prospective home-buyers provides just about anything that a home buyer needs, even connecting shoppers with real estate agents. “Anything that allows a home buyer to obtain a home for less money and more easily, we want to offer,” company co-founder and CEO Dan Snyder told The Dispatch in June. “Our mission is to help people who want to build wealth through homeownership,” he says. The result: In a little more than two years, the company received more than 140,000 loan applications and funded more than $2 billion in loans.
Who are its customers? Anyone thinking about buying a home. How does it make money? Closing fees associated with one of the lines of business, such as insurance premiums. How fast is this company growing? Very quickly. Doubling profits year over year, and growing its workforce from 750 in July 2020 to more than 1,700 with 1,000 of them based locally in the former Bob Evans headquarters in New Albany. What’s the story of its founding? Snyder saw the success of SoFi and Rocket Mortgage, two fast-growing web companies, and together with four co-founders — Mike Baynes, Grayson Hanes, Chris Miller and Robert Tyson — started the company as mortgage company Homeside Financial, adding the Lower brand four years later. File/Columbus Dispatch/Barbara Perenic
Dan Snyder
What problem is this company trying to solve? Lower seeks to offer a comprehensive online service for prospective homebuyers who aren’t sure where to begin and don’t understand how the process works.
What’s the story behind its name? Lower’s name was meant to be a simple, easy-to-remember brand that represents what the company does — provide its services at a lower cost and with lower barriers in the process than traditional companies. What will this company look like in one year? Five years? 10 years? The company has been profitable since the beginning, doubling its revenue every year and has grown large enough to go public. But Snyder plans to grow it more before doing so. Eventually, “Our goal is to be No. 1 lender in the country,” he told The Dispatch in June.
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What problem is this company trying to solve? “The unmet need for gene therapy manufacturing not just in the country, but in the world,” CEO Miller told The Dispatch in April. Who are its customers? Scientists, physicians, biotech and pharma companies and patient groups.
Forge Biologics 3900 Gantz Road, Grove City 43123
ForgeBiologics.com Founded: 2020 Business: Forge manufactures gene therapy products that it develops as well as for clients. Top officer: Timothy Miller is co-founder, president & CEO. Employees July 2021: 110 Projected employees by July 2022: 200 Projected 2021 revenue: $15 million Investment to date: $160 million, from Boston-based Perceptive Xontogeny Venture Fund, Boston-based RA Capital Management, New York-based Perceptive Advisors, Columbus-based Drive Capital, Chicago-based Surveyor Capital, New York-based Octagon Capital and London-based Marshall Wace.
How does it make money? The company manufactures gene therapies for clients and develops its own products as well. How fast is this company growing? Forge started with three co-founders a year ago. This year it has more than 100 employees and will double that in 18 months. In April, the company closed the largest Series B fundraise in Ohio history. What’s the story of its founding? The company was initially conceived solely as a contract manufacturer, but executives realized they could use revenue from manufacturing to develop new gene therapies. What’s the story behind its name? Like a mill that put raw material into a forge and creates steel, the company takes ideas and manufactures or “forges” them into real products. The company’s custom-designed, 175,000 square foot facility — “The Hearth” — is a similar play on words. What will this company look like in one year? Five years? 10 years? In a year, Forge expects to be in the top five from a capacity standpoint of gene therapy manufacturers in the world, and is poised in the next few years to become the largest manufacturer of its kind in the world.
Late July 2021 valuation: N/A
Forge Biologics’ Xin Tan September 2021 l ColumbusCEO
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Columbus Dispatch/Courtney Hergesheimer
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ne of the many issues that the coronavirus pandemic brought into sharp focus is the lack of medical manufacturing capability in the United States. So the entrepreneurial phrase “find the pain” is quite literal in the case of Forge Biologics. “Our driving force is to get gene therapies to patients suffering with rare disease as quickly as possible,” says Tim Miller, co-founder, president and CEO. In the year since it launched, the Grove City gene therapy company has ramped up at eye-popping speed, opening a custom-designed manufacturing and therapeutics development facility. Investors at home and on both coasts have been impressed: In April, Forge raised $120 million in series B financing, the largest such round in Ohio’s history.
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Olive AI 99 E. Main St., Columbus 43215
OliveAI.com Founded: 2012 Business: Olive AI uses computerized artificial intelligence to connect various parts of the healthcare system, so that patients and office workers don’t have to keep filling out the same forms over and over. It is “the de facto payments company for healthcare,” one venture fund executive said. Top officer: CEO Sean Lane Employees July 2021: 800 Projected employees by July 2022: More than 1,600 Projected 2021 revenue: $110 million Investment to date: $902 million from various venture funds including Tiger Global Management, Vista Equity Partners, Base10 Partners Advancement Initiative, Alphabet’s GV, Sequoia Capital, Dragoneer Investment Group, Transformation Partners, General Catalyst and Drive Capital. Late July 2021 valuation: $4 billion
A
nyone who has gone to a medical facility for treatment knows this fact all too well: The biggest pain (other than the illness itself, of course) is filling out form after form, many of which ask for the same information. “Healthcare doesn’t have the internet,” CEO Sean Lane says. “The systems aren’t connected and they don’t talk to each other and the software doesn’t talk to each other.” Computer technology was invented to eliminate exactly that kind of problem, and Olive AI is the company that is applying the latest and greatest in computer tech — artificial intelligence — to cut out all that duplicative paperwork. There’s genius in that simple answer to a grinding problem, and investors realize it. Olive AI was valued most recently at $4 billion.
Olive’s offices What problem is this company trying to solve? The time- and labor-consuming task of repetitive paper work that sometimes results in data and billing errors, and denial of coverage, among other issues. Who are its customers? More than 600 hospitals, as well as insurance companies and health plans. How does it make money? Health systems and insurance companies pay an annual fee to use this “internet of healthcare.” How fast is this company growing? Very quickly. The company was valued at $1.5 billion in 2020 and has more than doubled that valuation. What’s the story of its founding? “When I entered healthcare a decade ago, it felt like a broken record of grumbling in panels and fireside chats,” Lane says in a statement. “The problem is healthcare technology companies. … As an industry, we weren’t putting our resources to work to solve the hard technology problems in the same way every other industry had done.” What’s the story behind its name? “We decided … that we wanted to create an artificial intelligence, which means we wanted it to be difficult to distinguish from a human… so we picked a person’s name,” Lane told The Dispatch in July. What will this company look like in one year? Five years? 10 years? Lane expects to not only double Olive’s workforce in a year, but eventually to become a publicly traded company.
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Branch Insurance 20 E. Broad St., 12th floor Columbus 43215
What problem is this company trying to solve? Lengthy forms and long phone calls with insurance agents that discourage customers from getting policies. “More grandly, our mission is to make insurance less expensive and more people insured as a result,” Lekas says. Who are its customers? Anyone who wants home, renter or car insurance.
OurBranch.com
How does it make money? Like any insurance company, from customers paying premiums.
Founded: 2017, launched in 2019
How fast is this company growing? The company started the year with 35 employees and now has around 100.
Business: Branch’s technology is able to offer customers a firm quote for bundled home and auto insurance within seconds using just a few pieces of information. Top officer: Steve Lekas, co-founder and CEO Employees July 2021: 100 Projected employees by July 2022: 200-250 Growth: Revenue is up 1,000 percent over the past 12 months Investment to date: $82.5 million, from venture funds including Londonbased Anthemis Group, New York-based Greycroft, and HSCM Bermuda, the reinsurance arm of Stamford, Connecticut-based Hudson Structured Capital Management.
What’s the story of its founding? Lekas, the youngest person ever to be promoted to director level in the history of Allstate, was talking with tech entrepreneur Joseph Emison, later co-founder and chief technology officer at Branch, and they realized that the technology existed to allow insurance companies to assess risk—and serve customers more efficiently and more cheaply—in seconds rather than hours. What’s the story behind its name? Originally just a placeholder, Branch is a metaphor for the way the insurance company covers clients and is growing naturally. It also is named “after a lost part of insurance history,” Lekas said, in which a home insurer in the mid-1700s decided it couldn’t insure someone with trees around their house because early firefighters couldn’t get past the branches to put out a blaze. What will this company look like in one year? Five years? 10 years? “We have all of the foundational assets to eventually be one of the biggest companies in this space,” Lekas says.
B
ig insurance companies spend a lot of money on advertising. Geico, one of the biggest, spent $1.6 billion on advertising in 2019 alone. But Steve Lekas, co-founder and CEO of Branch Insurance, believes that the industry is changing so rapidly that, “10 years from now, you’ll never see another insurance commercial. It’s structurally too expensive.” After all, if a company is spending that much on ads, that means insurance premiums have to be higher to cover the cost. Branch uses technology “to distribute insurance the most logical way, and as a result, be meaningfully less expensive,” Lekas says. So, when people buy a house or a car, as they complete the purchase they can get insurance without filling out endless forms. Branch also uses its powers for good, not just profit, by operating a nonprofit, SafetyNest, “to bring the uninsured driver rate to zero.”
Steve Lekas
File/Columbus CEO/Rob Hardin
Late July 2021 valuation: N/A
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That’s Columbus, OH
While still tiny on the VC map, Columbus has come into its own. Here are some funds based and doing significant business here.
S
ince Mark Kvamme and Chris Olsen left vaunted Silicon Valley VC firm Sequoia Capital and formed Drive Capital in 2013, Columbus’ venture capital landscape has grown up. Successes like Root Insurance have turned heads from the coasts, and local venture funds have formed. Last year, Ohio tech companies were able to raise a record amount of venture capital—$1.5 billion, according to PitchBook and the National Venture Capital Association. In some ways Columbus’ venture scene could be seen as stagnant. According to that same data, the state’s proportion of venture dollars hasn’t moved above 1 percent of U.S. venture capital investment in the past five years. But consider where things stood not long ago. Industry insiders say the region is attracting the attention of coastal investors, and raising money for startups is much easier today than five years ago. For example, Ohio Innovation Fund’s Bill Baumel says while it was a struggle to find investors to pitch to a few years ago, today they’re finding competing offers for Series B raises. And as successful exits like CoverMyMeds, Root and Stirling Ultracold multiply, so will Columbus’ venture scene—and investors attracted to it from around the globe. Cynthia Bent Findlay is a freelance writer.
Heartland Ventures heartlandvc.com Specialty: Heartland Ventures is an early-stage venture capital firm that invests in high-growth technology startups that it connects with large corporations as customers in the Heartland. This gives its corporate partners early access to technologies being developed around the world and its founders access to early-adopter customers in the Midwest. Since 2016, it has invested in 11 portfolio companies and created over $220 million in revenue. Leadership: Max Brickman, managing director Partners: 3 Founded: 2016
Amount invested since 2016/amount of assets under management
$70 million Portfolio highlights: SPIDR (acquired by Versaterm Public Safety in July); Grabango (closed $39M Series B round in June); Third Wave Automation (announced a strategic partnership with Toyota Industries to produce next generation autonomous material handling vehicles); StrongArm Tech, Soil Connect, Workstream, Parkade
Drive Capital
Ohio Innovation Fund
629 N. High St. Columbus 43215
629 N. High St., Columbus, OH 43215
drivecapital.com
OhioInnovationFund.com
Specialty: Investing in market-defining technology companies outside of Silicon Valley. Leadership: Co-founded by Mark Kvamme and Chris Olsen Partners: 12 Founded: 2013
Specialty: Early-stage Ohio startups in med tech (Stirling Ultracold, ScriptDrop, Enable Injections) and tech (Aware, Immuta, eFuse). The fund was launched by Ohio State University, Ohio University and Kent State University. Leadership: Bill Baumel, managing director; Faith Voinovich, principal Partners: Two general partners, three additional venture partners Founded: 2016
Assets under management
$1.2 billion Portfolio highlights: Investor in more than 50 technology startups outside of Silicon Valley. Investments include Olive, Duolingo, Root Insurance, Path Robotics and Branch.
Amount invested each year since 2016
$10-$15 million Portfolio highlights: Seven early-stage companies have achieved exits or fundraises at nine-figure valuations, and overall have partnered with Microsoft, Facebook, Salesforce, Sanofi, Genentech, ESPN, UPS, and Cardinal Health among others.
Illustration by Yogesh chaudhary & Getty Images
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Loud Capital
Rev1 Ventures
Ohio Capital Fund
Ikove Capital’s Sun Fund
375 N. Front St., Suite 125, Columbus 43215
1590 N. High St., Suite 200, Columbus 43201
303 Broadway, Suite 1200, Cincinnati, OH 45202
1330 Kinnear Road, Suite 100, Columbus 43212
Loud.vc
rev1ventures.com
OhioCapitalFund.com
ikovecapital.com
Specialty: Alternative investments, specifically early-stage venture and revenue-based financing. Industry agnostic. Leadership: Co-founders Navin Goyal MD (CEO) and Darshan Vyas (chief growth officer) Partners: 7 Founded: 2015
Specialty: Rev1 was formed with a mission to help develop and grow the Columbus innovation economy. Leadership: Tom Walker, CEO Partners: 47 corporate funding partners/investors Founded: 2013
Specialty: Ohio Capital Fund is a “fund of funds” investing in venture capital funds that have targeted Ohio early-stage companies as part of their investment strategy. The fund was established by the state of Ohio. Leadership: Stephen Baker, managing director and Tarik Adam, senior investment manager Partners: 2 Founded: 2005
Specialty: Ikove pursues early-stage investments with an emphasis on technology commercialization. Through its startup nursery, in partnership with multiple U.S. research institutions, Ikove identifies and validates developing high-impact technologies. Leadership: Flavio Lobato and Rodolfo Bellesi, cofounders and principals, John D’Orazio, co-founder and managing partner, David Moritz and Robert Lee, partners Founded: 2014 Portfolio highlights: Ikove Startup Nursery has launched 24 companies since it was founded in 2014.
Assets under management
Amount invested on Rev1 funding to startups since 2016
About $50 $54.2 million million Vision: Loud is driven by the ethos of “Venture for People.” It believes venture capital can create a positive impact on society; in pursuing investments in diverse and underrepresented communities; and in a responsibility to educate and empower the next generation of entrepreneurs to embrace this mindset. Portfolio highlights: Hyperion Motors (hydrogenpowered vehicles), Raydiant Oximetry (innovative medical devices), Offor Health (mobile healthcare providing accessible, affordable care)
13 company exits with value of $4.11 billion since 2016. Total Assets under management
$130 million Portfolio highlights: Mobikit, Ubihere, Updox, 3Bar Biologics. Boasts $2.9 billion all-time startup impact including revenue, capital and exits.
Assets under management
$138 million Portfolio highlights: OCF has invested $138 million into 30 venture capital funds, 26 funds with an office in Ohio. The underlying funds have invested $340 million into 107 early-stage Ohio-based companies. A total of $1.3 billion has been invested into those 107 companies. Nearly 3,000 jobs have been created and retained in the 107 Ohio companies since inception.
invested as of 2019
$70 million
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Guide to venture funding Series A, Series huh? Breaking down venture capital. By Cynthia Bent Findlay
V
enture funding is not for the faint of heart, or for those in a hurry for return. Forbes says 90 percent of startups are bound for failure; venture firms aim to throw many seeds on fertile ground in hopes a few will take off and become the “unicorn” companies valued at $1 billion or more a decade or more into the future. Experts recommend only risking a small portion of your investment portfolio on startup funds. In fact, the Securities and Exchange Commission requires sellers of nonregistered securities—read private equity, hedge funds and venture capital funds—to sell only to accredited investors. Those are investors with an income of $200,000 or higher ($300,000 for a married couple) for at least two years and with a reasonable expectation of that income continuing in the current year—or, an individual with a net worth of more than $1 million excluding the value of their primary residence. Still all in? Read on for a guide to venture capital terminology.
in the U.S. by mid-2021 is around $8 million. These companies are usually already valued in the tens of millions. Series B: Goal is to scale a company to the next level. Usually a larger round—in mid-2020 the mean Series B raise in the U.S. was $33 million.
What are angel investors? Angel investors are single high net worth individuals who invest time, money or both to get a company off the ground in its very earliest stages, often in exchange for equity in a company. They often provide very favorable terms to companies as their interest lies more in a company’s success than in high profits. Investors in venture funds can also be committed to the mission of the particular fund. Some funds are very mission-driven, seeking to boost, for example, enviro-tech startups, socio-
economically underserved populations or geographic areas—while providing a return.
Do they ever get tax incentives? There are no specific federal tax breaks currently for venture investing. Many states do offer those incentives for different types of early stage funding investment. Ohio, for instance, offers a personal income tax credit of up to 10 percent of cash investments in Ohiobased small businesses.
What’s the return on a typical VC investment? Venture firms all shoot for the sky, but any individual investment could also tank completely. The goal of individual investments is a successful exit, meaning a sale of the company for
What are the different funding rounds? Most founders raise money to take a company from back-of-the-napkin to matured more than once at various stages of need and size of investment. Pre-seed: This is money most often raised to get an idea off the ground, for initial costs and plans. Often from founders themselves or friends and family, often not for equity. Seed: Usually the first official raise of funds. Often funds R&D—and the people behind it—for determining business direction. Also often involves investments in exchange for equity. Series A: Funding sought to take a going company with some discernible product, usually to enable hiring, execution of strategy and development. Most often raised from venture capital, this is the first series of preferred stock. According to Fundz, the median Series A raise
Courtesy Getty Images
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a large profit. Most firms/funds, however, have targets or track records over a set period of years over all investments. The National Bureau of Economic Research has said a 25 percent return on a venture capital investment is the average.
How do VC and private equity intersect? Private equity (PE) refers to ownership of companies that are not publicly traded. High net worth individuals and firms invest in privately held companies or in public companies with the intent to take them private, and many are older companies long in business. Venture funding refers to money in newer, startup-type companies, which PE may not necessarily be. While both venture and PE funds may be interested in high-growth potential investment, and both have a high tolerance for risk, PE firms often prefer to focus on obtaining majority ownership and then “fixing” or streamlining businesses for growth, while venture funds aim to grow companies through minority investment of funds and expertise, and often attracting other outside capital.
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How are company valuations determined? Potential investors want to know the value, and potential value, of what they want to buy into. There are several ways to calculate that, including market capitalization— multiplying a public company’s share price by its total number of shares outstanding—looking at multiples of a company’s revenues or earnings, or simply looking at the value of a company’s assets minus its liabilities (book value). But that’s tricky for a new entity with no or little cash flow. Investors then may look at what similar companies are actually selling for, such as, say, five times that company’s sales, and then apply a similar formula— that’s called the “market multiple.” Or they will look at the stage of the company’s development and the human, intellectual and physical infrastructure it has in place, and apply various known calculations often used in the industry to score the company’s worth. Cynthia Bent Findlay is a freelance writer.
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Succession Planning
How to identify the next CEO: The culture quotient Choosing the next company leader is all about making sure the person brings something truly new to the organization’s culture, experts say. Because same-old equals stagnation. scenery, which meant trading the bright lights of Times Square for the five-and-dime feel of Bentonville City Square. Christie was given a nine-month onboarding opportunity, and on day three she was assigned a “culture coach.” She says the biggest gift she received from the retailer continues to pay dividends today as she coaches C-level leaders across North America and touts the value of a culture coach. “It’s hard to transition into the world’s largest company if you don’t have a culture go-to leader to ask the awkward questions you have when you are new,” Christie says. “The culture coach translates what’s being said and, just as importantly, what’s not being said. During this onboarding period, I was deliberately educated on the history and evaluation of the culture and knowing the moments where I could comfortably fit in and stand out. My (coach) also opened up his network to me to build relationships quicker and assimilate into the culture. It’s an invaluable way to create a level of confidence for someone new.”
By Laura Newpoff
A
Audra Christie
Courtesy Ian Alexander Photography
udra Christie is a human resources executive and certified executive coach who began her career as a financial analyst at the Federal Reserve Bank of New York. She later took on leadership positions across multiple industries, including working at the world’s largest company, Walmart. That opportunity led Christie and her family to Arkansas so she could lead human resources in merchandising and international divisions. It was a dramatic shift in
“Most corporate cultures aren’t staying the same these days. When you are hiring a CEO, you want that person to be a culture-add based on their experience, expertise and what they can bring as a dynamic leader.” Audra Christie, coach and founder, Mindset Change Coaching
Through her company, Mindset Change Coaching, Christie now specializes in helping newly appointed leaders transition into their first Clevel position and claim their executive presence. As companies evaluate their succession planning strategies following a turbulent year filled with the stress of a pandemic, remote work, caring for and teaching kids at home, racial injustices, protests and a contentious presidential election, Christie says a focus on culture is more important than ever. “Most corporate cultures aren’t staying the same these days,” Christie says. “When you are hiring a CEO, you want that person to be a cultureadd based on their experience, expertise and what they can bring as a dynamic leader. That helps build upon a culture, so it doesn’t stay stagnant. That helps lead the organization forward.”
Pandemic impact The unexpected nature of COVID-19 has put a spotlight on the importance of succession planning so companies have skilled leadership at the ready to navigate times of crisis. The pandemic has had five important effects, according to the Center for Executive Succession at the Darla Moore School of Business, University of South Carolina. It has: • Focused corporate boards on the criticality of talent management. • Taken off succession blinders. • Shown a need to develop talent to capabilities and not profiles. • Shown a need to expand how companies interact with candidates. • Revealed that board meetings can be done virtually and at a fraction of the cost of in-person gatherings. Eric Douglas Keene, an Ohio native who runs Keene Advisory Group and is managing director of board and CEO Services at New York-based RSR Partners, says boards need to be especially proactive these days to ensure there are enough candidates in the C-suite talent pipeline. That’s because a booming stock market has given some leaders the flexibility to step away from corporations to pursue other interests. The pandemic has prompted people to search for work they consider
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File/ColumbusCEO/Rob Hardin
Special advertising opportunities coming in Columbus CEO
Dr. Eric Schertel
For advertising information, call 614-540-8900 today or email advertise@columbusceo.com
more fulfilling. And the social justice movement has moved some leaders to direct their energy toward causes that can help minority communities. Keene, an advocate for increasing the diversity of boards and C-suites, recommends boards expand their definition of what “qualified” means as they cultivate talent pipelines, internally and externally. “Instead of emphasizing prestige of education (at Ivy League schools) or popular companies worked for, understand the demonstrated accomplishments of a candidate and the situation in which they occurred,” he says. “During a succession process, leaders can be identified early, especially within the organization, and their capabilities can be developed over time.” Keene also is having more conversations with boards and corporate leaders about the importance of moral quotient, emotional intelligence, empathy and desire for leaders who can influence a team through humility, grace, transparent communication and compassion. Artie Isaac has chaired CEO peer groups with Vistage Worldwide since 2011. He, too, says the pandemic may cause some companies to focus more on finding leaders who demonstrate emotional intelligence and a passion for developing relationships. While those skills always have
been important, the health crisis and a dramatic shift in how people work – including increased expectations around child and family care – have made them even more sought after. “I think you’ll see executive competence and executive humility,” Isaac says. “I don’t believe any of us in the workplace, in the community or in families are going to get away with ‘might makes right.’ Emotional intelligence skills are going to get a lot more attention and be embraced by those who power through.”
Sharing a cultural vision Dr. Eric Schertel joined MedVet in 1999 as a veterinary surgeon and partner and in subsequent years took on the roles of president, chief medical officer and head of surgery. He became CEO in 2010. He thinks it would be a mistake for CEOs not to prioritize identifying a successor, not just because they will retire one day, but because unexpected events like a death or illness could occur. Knowing there would come a day where he would want to spend more time with his family, Schertel began the succession process by promoting Dr. Linda Lehmkuhl to chief medical officer in 2015. She became CEO in 2019. Lehmkuhl joined the veterinary practice about a year after Scher-
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tel did. Being able to work closely together for all those years and know each other on a personal level built up trust between the two. “When you can develop your successor and work with them over a number of years, you increase the odds of success,” Schertel says. “I found out that we had similar problem-solving skills. We also came to similar conclusions around data that was put in front of us. We also had the same vision of the culture of our organization. Those factors told me she could be the future leader.” Alex Shumate and his successor, Traci Martinez, also worked together for more than a decade at Squire Patton Boggs. Martinez became managing partner in January and Shumate remains active as a senior partner. Throughout Shumate’s 30-year run leading the firm, he made it a point to develop future leaders. That included establishing an advisory group made up of the heads of the various practices at the firm so he would be aware of the firm’s rising stars. Martinez stood out for a number of reasons. She was a well-respected lawyer who demonstrated leadership by serving on the firm’s global board, was active in the community and mentored others. She also was active in the firm’s hiring processes and specialized in labor and employment law and human resources. Known to have a warm personality, Martinez also made it known that firm culture and diversity initiatives were important to her. All that, combined with demonstrated skills in recruitment, retention and talent development, including among millennials, elevated her to the top of the firm’s list as Shumate’s successor. So far, the transition has gone off without a hitch. His focus now is on client relationships while firm leadership matters are up to Martinez. Still, the two communicate often and meet regularly for breakfast or lunch. “We work well together and it’s important for the firm to see that,” Shumate says. “It gives everyone great confidence we made the right decision that will benefit the organization for many years to come.” Laura Newpoff is a freelance writer.
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Business 2021
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Special Advertising Section
continuing Education Resources
OHIO’S PMBA Boosts Careers by Combining Convenience and Connection Whether considering a shift to a new industry or just trying to get ahead, advancing your career can feel overwhelming. That’s why Ohio University’s Professional Master of Business Administration program supports students every step of the way, with a flexible blend of engaging online classes and learning modules, plus once-a-month Saturday residencies in Dublin, designed for busy professionals. Shane Colvin (PMBA ’21) was searching for a program that could offer the convenience and connections he needed to help elevate his skills and network. He found both at OHIO, where expert faculty guide small cohorts through an award-winning, customizable curriculum—and nine possible concentrations—that balances vital business knowledge with crucial interpersonal and leadership skills. “Having the ability to discuss ideas, concepts and scenarios with both professors and members of my own cohort provided me with outstanding and far-ranging
viewpoints,” Colvin explains. “As a business leader, it is imperative to be able to quickly analyze numerous portions of a business and make decisions; this program will teach you how to do both.”
Forever Invested in Your Success
The OHIO PMBA not only added useful tools and experiences that increased Colvin’s confidence and skillset as an innovative business leader, it also immediately drew positive attention from his employer and meaningfully impacted his career path. “My employer has noticed my growth from the program, which in turn has led to additional opportunities [and] responsibilities, as well as higher earning potential,” says Colvin, VP of Business Development at Magnum Manufacturing. No matter where Colvin (and all the University’s College of Business grads) go from here, OHIO remains forever invested in their success. That isn’t just a warm sentiment— every PMBA student receives a dedicated “career acceleration
team.” These coaches, branding experts, and career concierges will help them make the connections and impressions needed to achieve their career goals today, tomorrow and beyond, with career coaching for life. “This is a game changer,” notes Kari Lehman, Assistant Dean of Graduate and Professional Programs Administration at OHIO. “We know that our part-time students here in Ohio and around the country are hungry for this level of career support. We are so proud to be able to be among the first in the nation to provide this level of meaningful, lifelong career coaching and support. Our students now have an entire team in their corner, providing expert advice to help them map out a plan and achieve their goals, even as their career evolves or they face the unexpected. And as we’ve all seen over the past year, the unexpected does happen—this helps ensure our graduates will always adapt, succeed and thrive.”
Experience the OHIO PMBA
OHIO’s PMBA can be completed in as little as 24 months; applications are accepted year-round, and requirements do not include a GMAT or GRE score. Cohorts begin in January and August. As both a highly ranked College of Business and the state’s No. 1 leader in online learning, OHIO PMBA ensures students earn a highly reputable degree, with minimal disruption to their schedule, at an unparalleled value. “I feel strongly about and want to endlessly promote Ohio University,” adds Colvin. “Not only because of the opportunities they continue to afford me as both a student and alumnus, but because I think everyone should have such a wonderful educational experience.” To begin your career boost, visit ohio.edu/pmba
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PROFESSIONAL MBA
THE CAREER BOOST YOU NEED. The customized experience you want.
Figuring out how to advance your career—whether moving up or changing it up—can feel overwhelming. Thankfully, students in Ohio University’s Professional Master of Business Administration program are supported every step of the way. In OHIO’s PMBA, expert faculty guide you through an award-winning curriculum that will elevate your business knowledge and build crucial interpersonal and leadership skills. Customize your 24-month experience with one of nine concentrations such as Business Analytics or Executive Management. Build lasting relationships with your cohort and faculty through an engaging blend of virtual classes and once-a-month Saturday residencies at our Dublin campus. No GMAT or GRE scores are required, and applications are accepted year-round for January and August starts. What’s more, OHIO offers every PMBA student a dedicated “career acceleration team”. A coach, branding expert, and career concierge will help you make the connections and impressions you need to achieve your goals now; career coaching for life means you’ll always be ready for whatever comes next. Successful careers are never built alone. Earn your PMBA at OHIO, where we’re forever invested in your success. Learn more at
ohio.edu/pmba
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Special Advertising Section
continuing Education Resources
Franklin Fits: Scalable Learning Solutions for Individuals and Teams Accredited and adult-focused since 1902, Franklin launched its first online course in the 1990s to increase access to education for busy adults with schedules that didn’t fit the traditional model. Today, Franklin is Ohio’s No. 1 nonprofit university for online degrees. With more than 90 percent of students taking advantage of online course options, we’ve created an educational environment where students thrive.
Ohio’s No. 1 Online MBA
Elevate your skills and broaden your career options with Ohio’s No. 1 online MBA. Franklin’s 12-month accredited MBA unites the realworld expertise of our faculty with a personalized online learning experience to help you get ahead. Tailor your MBA to your career aspirations by pursuing optional focus areas in human resources, marketing and organizational psychology.
Boost Your Marketability with a Graduate Certificate in Data Analytics
Data analysis is a valuable skill for any professional seeking a competitive edge—regardless of your industry or current role. Frank-
lin’s Graduate Certificate in Data Analytics builds your knowledge of statistics, databases, data visualization, data mining and big data technologies using high-demand tools such as SAS, R or Tableau—no STEM background required. Earn your certificate 100 percent online in as few as eight months.
Up Your Game with an Accounting Data Analytics Certificate
Franklin’s 12-month Accounting Data Analytics Certificate will equip you with the skills you need to get, or stay, on top of your game amid growing reliance on data. This 100 percent online certificate program will deepen your knowledge of the technology and processes necessary to prepare data for analysis and presentation. Whether you want to advance your accounting career, prepare for the CPA exam or better understand how data analysis capabilities can enhance various accounting roles, this four-course certificate is a great investment in your professional development.
Build In-Demand Skills Quickly with Microcredentials Microcredentials provide an op-
B S W
portunity to add new skills and proficiencies in specific areas. In addition to embedding microcredentials into many of our degree programs, the university offers stand-alone options in Professional Sales and industryaligned programs in Asana Project Management, Facebook Digital Marketing, Tableau Data Analytics and Salesforce Administration.
Get a Learning Solution Tailored to Your Organization
With a diverse portfolio of nearly 100 partner organizations—like OhioHealth, Nationwide Insurance and the City of Columbus—FranklinWORKS provides educational programs to advance workforce skills. From regional powerhouses to Fortune 100 companies, our partners value education, business growth, professional development and talent retention. Through FranklinWORKS, organizations can help associates: • Maximize tuition reimbursement benefits with tuition discounts and free books • Acquire job-specific microcredentials quickly • Earn an in-demand master’s degree in 18 months with $0 out-ofpocket costs A single-point solution for training and development needs, FranklinWORKS provides partners with dedicated partnership support, as well as discounted partner pricing on microcredential and bachelor’s degree cohort programs. Find more information on all Franklin’s degree, certificate and microcredential programs at franklin.edu. To learn more about how FranklinWORKS can customize programs to fit your organization’s needs, contact Whitney Iles, director of partnerships and client management, at whitney.iles@franklin.edu or 614-947-6702.
Fra Fra
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Franklin
8/19/21 1:55 PM
Build a Stronger Workforce With Franklin University For more than 115 years, Franklin University has served our students and the central Ohio community by providing in-demand programs that work for busy adults. Through our FranklinWORKS initiative, we partner with nearly 100 organizations, like OhioHealth, Discover Financial Services and the City of Columbus, to provide innovative education options that foster employee development and business growth.
Partner Services + Offerings Tuition Discount Programs No-Cost Master’s Degree Cohort Programs Leadership Development Programs Customized Curriculum Skill-Specific Microcredentials Seamless Administrative Processes Dedicated Partnership Support Team
To learn more about the education options available through FranklinWORKS, contact: Whitney Iles, Director of Partnerships and Client Management Whitney.Iles@franklin.edu 614.947.6702
Franklin makes it possible. Franklin makes it personal.
franklin.edu/ newpartnerships
Franklin University is nonprofit and accredited by the Higher Learning Commission (hlcommission.org/800.621.7440).
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COLUMBUS REGION NONPROFITS Ranked by Columbus region revenue in 2020
ORGANIZATION
1 National Church Residences 2335 North Bank Drive, Upper Arlington 43220 • 614-451-2151 nationalchurchresidences.org
2 Goodwill Columbus
1331 Edgehill Road, Columbus 43212 614-294-5181 goodwillcolumbus.org
3 PrimaryOne Health
2780 Airport Drive, Ste. 100 Columbus 43219 • 614-859-1901 primaryonehealth.org
4 Lutheran Social Services 500 W. Wilson Bridge Road, Ste. 245 Worthington 43085 • 614-228-5200 lssnetworkofhope.org
5 Community Shelter Board 355 E. Campus View Blvd., Ste. 250 Columbus 43235 • 614-221-9195 csb.org
6 LifeCare Alliance
1699 W. Mound St., Columbus 43223 614-278-3130 lifecarealliance.org
7 United Way of Central Ohio
360 S. 3rd St., Columbus 43215 614-227-2700 liveunitedcentralohio.org
8 Open Door Columbus
(formerly Columbus Center for Human Services)
540 Industrial Mile Road Columbus 43228 • 614-641-2900 opendoorcolumbus.org
9 Netcare Access
199 S. Central Ave., Columbus 43223 614-276-2273 netcareaccess.org
10 Community Refugee
& Immigration Services 1925 E. Dublin-Granville Road Ste. 102, Columbus 43229 614-235-5747 • crisohio.org m = million Source: Survey of nonprofits
Information compiled by LINDA DEITCH
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2020 Revenue
2020 Expenses
Columbus region
Columbus region
Nationwide
Nationwide
$336 m
$317 m
$336 m
$317 m
$51.2 m
$51.5 m
$51.2 m
$51.5 m
$42.1 m
$39.3 m
$42.1 m
$39.3 m
$39.5 m
$39.1 m
$55.7 m
$53.9 m
$34.6 m
$34.4 m
$34.6 m
$34.4 m
$28.7 m
$27 m
$28.7 m
$27 m
$27.7 m
$26 m
$27.7 m
$26 m
$25 m
$22 m
$25 m
$22 m
$18.6 m
$17.3 m
$18.6 m
$17.3 m
$2.7 m
$2.8 m
$2.7 m
$2.8 m
Employees in COLUMBUS Employees across organization
Locations Columbus region Nationwide
Top Officer Year Founded
954 2,429
36 340
1,087 1,087
17 17
342 342
12 12
341 594
18 48
32 32
1 1
Michelle Heritage
222 222
3 3
Charles Gehring
44 44
2 2
518 518
5 5
255 255
3 3
50 50
1 1
Mark Ricketts
1961 Ryan Burgess
1939 Charleta Tavares
1997 Stacy Martin
1912
1986
1898 Lisa Courtice
1923 Rebecca Sharp
1983 Brian Stroh
1972 Angela Plummer
1995
Description Affordable housing; permanent supportive housing for the formerly homeless and disabled; service coordination; home and community services; hospice care
T H R G
De (6 de
Workforce development; day services for adults with developmental disabilities; supported living; retail
Primary care; behavioral health; vision; dental; pediatrics LSS Faith Mission; LSS Choices for victims of domestic violence; LSS Food Pantries; LSS 211 (information and referral services, formerly HandsOn); senior affordable housing Homelessness prevention; shelter; street outreach; rapid re-housing; permanent supportive housing
Meals-on-Wheels; Columbus Cancer Clinic; Central Ohio Diabetes Association; Wellness Services; Help-at-Home
W R G
Am (6 am co
Support and funding for basic needs services for families in crisis; access to education; free tax preparation services; support and funding to promote family stability Residential services; adult day services; supported community living; Open Door Art Studio and Gallery; career coaching 24/7 crisis intervention and assessment services; probate and forensic services; mobile crisis services; and residential, community and developmental disability programs Refugee resettlement; employment/ESL; mentorship; immigration legal services; early Intervention
The CEO Leaderboard features selected topics each month. The December Leaderboards will feature Columbus region colleges and universities, credit unions, and office furniture companies. The deadline for inclusion in those surveys is Oct. 11. If you want your company or organization to be considered for an upcoming CEO Leaderboard, contact Linda Deitch at ldeitch@columbusCEO.com. Information included in this survey was provided by organizations listed and was not independently verified.
8/19/21 3:30 PM
R A
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anent e formerservice ommue
Wouldn’t you like to be looking at your home? Ask your Realtor to market your home in the Executive Living section of Columbus CEO Magazine!
East of I-71 call Telana Veil at (614) 469-6106 or e-mail at tveil@dispatch.com West of I-71 call Amy Vidrick at (614) 461-5153 or e-mail at avidrick@dispatch.com
THE ALLANHUNTER REAL ESTATE GROUP
CUTLER REAL ESTATE
Denise Price (614) 374-1553 denise@ahreg1.com
Neil Mathias (614) 580-1662 neil@themathiasteam.com
day evelported
ealth;
hoices olence; 11 services, afford-
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WEICHERT, REALTORS - TRIUMPH GROUP
RE/MAX TOWN CENTER
Amy Whetro (614) 519-4447 amywhetro@gmail. com
Joe and Patty Evans (614) 975-7355 www.joeandpattyevans. realestate
DREAM PRIVATE ESTATE ON ALMOST 6 ACRES - Custom brick home with 5 BRs, 4 full/2 half baths, 3+ car garage. Wrap around front porch and pond. Marble foyer with dining rm, 1st home office, sweeping staircase. Huge kitchen with granite countertops, Amish built cabinets, lg island, eat-in area and morning room. Family room w floor to ceiling brick fireplace with built-ins. Private 1st floor master suite w/steam shower, double walk-in closets and own porch. 1st floor laundry. 42’x24’ inground pool w/ spacious paver patio and outdoor kitchen. $1,200,000
asic s in criree tax port and stability
t day unity dio and
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5548 RIVERSIDE DRIVE - You’ve driven along the Scioto and seen this gated circular driveway & the rolling front yard full of mature trees overlooking the water. The interior of this home is just as impressive as the view. Classic architecture meets modern living w/a spacious & bright open floor plan full of hardwood floors, stone, moldings, & walls of windows. The great room is the heart of the home w/soaring ceilings & two stories of natural light. 3.22 acres of natural beauty await to run & play on. $1,145,000
LOCH LOMOND HILLS - A limited number of building lots available in this exclusive custom community. Loch Lomond Hills is a secluded community in Powell. Bring your own builder and build your custom, free standing, dream condo in this exceptional location off 315 near 270. Pricing starting at: $175,000
F
11450 Canby Court, Plain City - Former model Custom RANCH w/luxury touches-wood flooring; lots of windows; crown molding; custom built-ins; cabinets & shelving; custom lighting. The front office/den is ideal for today’s work from home environment. The open concept kitchen w/walk-in pantry & barn door is ideal for unexpected guests arriving. Granite countertop island w/enough room for 6 people. The dining area has lots of glass & oversized doorway to the 2 outdoor living spaces. Primary suite is large & has an incredible bathroom w/an oversized shower & large custom wood closet. $869,000
RE/MAX ALLIANCE
RE/MAX ALLIANCE
Patrick Hamilton (937) 652-1100 patrickh@ remax.net
Patrick Hamilton (937) 652-1100 patrickh@ remax.net
520 S. URBANA LISBON RD, SOUTH VIENNA - This amazing, luxury home is a short 30 minute drive to downtown Columbus. Offering 9100 sq ft of living space to include 6 BR, 5 BA & is situated on 8.35 acres, the amenity list for this estate goes on & on. This property features a Mother-in- Law suite, 3 car garage, geothermal heating/cooling & a full, finished walkout basement. Other features are the main level owner’s suite & a great room with walls of windows. This home is built for entertaining! $1,400,000
LLY
FU
ED
ISH
N UR
141 COUNTRY ROAD, URBANA - This country/contemporary, trophy residence is the pinnacle of sophistication, discretely located on 1.27 acres on a quiet road. The serene & secluded retreat has been purposefully crafted and has 3 BR, 3 BA & 4 car gar. The home overlooks a large pond with a one of kind waterfall for your enjoyment. An outdoor kitchen has a stone fireplace, a Memphis Grill, Green Egg Smoker & pizza oven. Urbana is a short 45 minute drive from Downtown Columbus. $599,900
d.
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Office Space By JESS DEYO + Photos by Rob Hardin
Bailey Cavalieri 10 W. Broad St. Columbus 43215 baileycav.com
The law firm gave its 1987 office a lively refresh. Greet and gather The 35,000-square-foot space offers a spot for clients and staff to grab coffee and chat. Timeless accents The office’s 1987 dark wood finish was left untouched during its 2019 renovation.
Lady Justice Gallery owner Sharon Weiss collaborated with local creators for the firm’s art. Chance to connect Community areas were crafted with the goal of being together more.
Lower level Stairs that once led to a third floor of the firm have been covered after consolidating and maximizing space. Reshaped, reconfigured Conference rooms were removed to offer an open concept with plenty of natural light for the team to gather.
Visit columbusCEO.com for a full article on the space.
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The James Cancer Diagnostic Center At The James, we understand that cancer is a complex disease that when detected early has more opportunities for successful treatment and cure. For this reason, experts at The James Cancer Diagnostic Center provide patients who may have cancer with expedited access to diagnostic testing. The center offers a first step in determining each patient’s specific type of cancer, delivered by the experts who study and treat cancer every day. To make a same-day or next-day appointment, visit cancer.osu.edu/diagnosticcenter or call 800-293-5066.
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