Austin-Based Venture Capital Fund Continues to Grow In-house Team with Leading Technology Executive
AUSTIN, Texas–(BUSINESS WIRE)–July 15, 2020–
Next Coast Ventures, an Austin-based enterprise capital agency investing in entrepreneurs on the ‘Next Coast’ of innovation, at the moment introduced Cotter Cunningham as its new Entrepreneur-in-Residence as a part of its mission to accomplice with revolutionary entrepreneurs creating firms that match its funding themes.
Cunningham was beforehand the founder and CEO of RetailMeNot, Inc., a number one financial savings vacation spot. Cunningham raised almost $300 million from traders together with JP Morgan, Austin Ventures, GV (Google Ventures), Norwest Venture Partners and IVP. He grew RetailMeNot organically and thru quite a few acquisitions from a startup to a publicly-traded firm (NASDAQ: SALE) with roughly $300 million in income and 600 workers within the U.S. and EU. In 2017, RetailMeNot offered for $630 million to a subsidiary of MacAndrew & Forbes. After the sale, Cunningham remained Chairman of RetailMeNot and served as Managing Partner of MacAndrews & Forbes’ Ventures, actively evaluating expertise initiatives and potential investments.
“Cotter is one of the most successful consumer Internet executives in Austin’s history,” stated Thomas Ball, co-founder and managing director of Next Coast Ventures. “I had the honor of being the first outside investor in RetailMeNot and his first Board member. While at RetailMeNot, Cotter balanced rapid growth and profitability while creating a culture of innovation that attracted world class software engineering and product talent. It is always important to us to have a strong entrepreneur in our office to provide their perspective on market trends. Cotter brings his expertise in entrepreneurship, success as a great CEO and leader, and knowledge of the Austin ecosystem to Next Coast Ventures, and we could not be more thrilled to be partnering with him as he identifies his next project.”
Prior to RetailMeNot, Cunningham was Chief Operating Officer of Bankrate, Inc. serving to take the corporate public in 1999. He was additionally an government at VML and H&R Block and wrote his personal guide known as Your Financial Action Plan: 12 Simple Steps to Achieve Money Success. Cunningham has an MBA from Vanderbilt University and a BA from the University of Memphis. Cunningham will proceed to function a member of Next Coast Ventures’ Entrepreneurs Council.
“I am very pleased to expand my role at Next Coast Ventures to become an Entrepreneur-in-Residence,” stated Cunningham. “The last time I was an EIR, Tom and I worked on an idea that became RetailMeNot. I am excited to see what we can create this time. Also Next Coast’s deep experience in consumer Internet and emerging platform companies, and its ‘built for entrepreneurs by entrepreneurs’ ethos make the firm a great partner as I explore potential opportunities.”
About Next Coast Ventures
Next Coast Ventures is an Austin enterprise capital agency that companions with daring entrepreneurs constructing revolutionary firms in massive markets. It offers early-stage capital to high-growth startups in ‘Next Coast’ markets, utilizing macro developments and themes to information its funding technique. Next Coast offers its rising group of portfolio firms hands-on, firm constructing sources by means of its robust trade community, Entrepreneurs Council program and the founders’ personal experiences as entrepreneurs. Learn extra at https://www.nextcoastventures.com/.