One of my most rewarding experiences in 2017 is Ketner Group’s involvement with REVTECH, a Dallas-based venture accelerator and seed fund that works with early-stage retail and restaurant technology companies. Ketner Group became a REVTECH sponsor in 2016, I signed on as a mentor, and it’s been full-speed ahead ever since. We just completed our first year with REVTECH, and it’s been eventful, to say the least.
REVTECH hosted three Tech Trends events in Dallas, opened a 13,000 sq.ft. co-working space, announced its largest fund to date this year, participated in numerous retail industry events and grew exponentially in industry recognition. Ketner Group helped several REVTECH portfolio companies with PR launches, and we’ve worked to earn recognition for REVTECH as one of retail’s premiere growth accelerators.
David Matthews, REVTECH’s managing partner and a veteran retail tech investor, is an evangelist for retail technology role, and he’s become a good friend to Ketner Group. We share a similar passion for retail technology and a firmly held belief that technology is vital to retail’s continuing transformation. REVTECH’s portfolio companies are doing groundbreaking work in AI, machine learning, robotics, IoT, voice and other technologies that are helping retailers break away from the pack.
Last week REVTECH announced the winner of its first REVTECH Entrepreneur of the Year award. Carly Nance and Rachel Bentley were honored for co-founding The Citizenry, a socially conscious, ethical home décor retailer that sells goods from artisans around the world, donating 10% of their profits back to the artisans’ communities. In addition to its online business and brick-and-mortar showroom, The Citizenry launched a pop-up show in New York last week just in time for holiday shopping. It’s a great example of the kind of fresh retail concept that can thrive in today’s fast-changing retail world and a worthy recipient of REVTECH’s Entrepreneur of the Year award.
As we enter the final count-down for holiday 2017, retail sales are up, along with consumer confidence, and Cyber Monday set a record with $6.6B in sales, the largest online shopping day in history. The industry has reason to be upbeat about 2018, and organizations like REVTECH will play a big role in ensuring a bright future for the retail industry.