←RAVIIOWA.COM 04 / VENTURE
04 / VENTURE

BUILT BY
IOWA

Backing ambitious founders with Iowa roots before the rest of the world sees what they can become. Founded in Iowa City in 2013, Built By Iowa backs early-stage, Iowa-connected founders with capital, operating experience, and conviction.

PART OF RAVIIOWA.COM
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BUILTBYIOWA.COM
2013
FOUNDED — IOWA CITY
25+
COMPANIES BACKED
5+
EXITS
$1B+
PORTFOLIO VALUE
BUILT BY IOWA
LAST LIGHT, IOWABUILT BY IOWA — RAVIIOWA.COM
04.1 / THESIS

BET ON IOWA

Built By Iowa was founded when Iowa’s early-stage ecosystem was still taking shape. Beyond investing, its principals have helped connect founders, investors, universities, and operators across the state.

We back ambitious Iowa-connected entrepreneurs with early capital, operator experience, and the conviction to lean in before the opportunity is obvious.

The thesis was never to build companies only for Iowa. It was to prove that world-class companies could be built from here.

INVESTOR OF THE YEAR
SILICON PRAIRIE NEWS
“GAME CHANGER”
BIG TEN NETWORK
04.2 / PORTFOLIO

THE PORTFOLIO

COMPANYWHAT THEY DOSTATUS
TELEPHARMTELEPHARMACY SOFTWARE FOR RURAL PHARMACIESEXIT — CARDINAL HEALTH · 20X
PEAR DECKINTERACTIVE CLASSROOM PRESENTATIONSEXIT — GOGUARDIAN · 25X
LENDEDUCONSUMER LENDING COMPARISON MARKETPLACEEXIT · 15X
DWOLLAACCOUNT-TO-ACCOUNT PAYMENTS APIEXIT — VIA NLV
ELLISONEYEWEAR BRANDEXIT — MARCUS LEMONIS FASHION GROUP
SMARTSCRIPTSPOUCH-PACKAGED PRESCRIPTION DELIVERYVIA NLV
HIGHER LEARNING TECHNOLOGIESMOBILE TEST-PREP + EXAM APPSGROWTH
ONERORXPHARMACY + TELEHEALTH FOR RURAL COMMUNITIESGROWTH
41°N42°N43°N96°W95°W94°W93°W92°W91°WSTATE OF IOWACEDAR RAPIDSDES MOINESDAVENPORTAMESCEDAR FALLSBURLINGTONCOUNCIL BLUFFSSIOUX CITYDUBUQUEIOWA CITY — HQ50 MINPORTFOLIO MAP — FOUNDERS BUILDING FROM IOWAEST. 2013
FIG. 04 — PORTFOLIO MAP, STATE OF IOWABUILT BY IOWA — RAVIIOWA.COM
04.3 / PRINCIPALS

THE PRINCIPALS

OPERATOR · INVESTOR
RAVI PATEL→

Scaling companies, allocating capital, and building organizations for the long term.

FOUNDER · OPERATOR
ADAM INGERSOLL

Decades of experience building education businesses and developing people.

FOUNDER · BUILDER
ROBY MILLER

Built TelePharm from an Iowa startup through national scale and acquisition by Cardinal Health.

04.4 / PLATFORM DATA

PLATFORM DATA

FOUNDED2013 · IOWA CITY
STRATEGYEARLY-STAGE VENTURE INVESTING
THESISIOWA-CONNECTED FOUNDERS
PORTFOLIO25+ COMPANIES BACKED
APPROACHCAPITAL · OPERATOR EXPERIENCE · NETWORK
RECOGNITIONSILICON PRAIRIE NEWS INVESTOR OF THE YEAR · BIG TEN NETWORK “GAME CHANGER”
IOWA ROOTS. NATIONAL AMBITION.