Navigating the startup landscape can be overwhelming. There are countless industries buzzing with innovation and immense potential. Let's examine the fastest-growing startup industries quickly becoming hotbeds for entrepreneurship and innovation.

Artificial Intelligence (AI)

Artificial Intelligence (AI) has been a dominant player in the tech sector for some time now, and its subsets like Conversational AI are catching up swiftly. These technologies, such as language models and chatbots, are revolutionizing various sectors by automating tasks and offering personalized user experiences.
Among the AI success stories, OpenAI’s ChatGPT stands tall. The language model has been used for everything from customer service to education, showcasing the immense potential and versatility of this technology. The AI industry, and particularly Conversational AI, represents a fertile ground for startups to thrive in these dynamic startup sectors.

Mental Health Tech

As a subset of Health Tech, Mental Health Tech has seen a surge in interest and growth, driven by the increased awareness and destigmatization of mental health issues. It's certainly one of the best industries to start a business today.
As noted in Andreessen Horowitz's Marketplace 100 report, the interest in mental health tech is not merely a trend but a necessity. Startups in this sector are creating platforms to provide virtual mental health services, apps for mindfulness and cognitive behavior therapy, and AI-powered tools for diagnosing mental health conditions.

Climate Tech

One of the fastest-growing startup industries taking center stage in our contemporary era is Climate Tech, a burgeoning industry devoted to addressing climate change challenges through innovative technologies. This industry is soaring due to the escalating global awareness of environmental issues and the necessity for sustainable solutions.
At last year's Venture Atlanta, we witnessed a transformative Climate Tech panel. The discussion highlighted the significant role of this industry in facilitating a green transition and providing sustainable business opportunities. Startups in this space are developing products and services ranging from carbon capture technologies to sustainable energy systems and green transportation solutions.

E-commerce

E-commerce, while not new, is an industry that continues to redefine itself with innovations in technology and changes in consumer behavior. With a boom in online shopping, driven further by the global pandemic, e-commerce is one of the best startup industries for entrepreneurs to tap into in 2023.

E-commerce startups are not just about selling products online anymore. They are about providing unique customer experiences, leveraging AI for personalized shopping, implementing AR to help consumers visualize products, and using blockchain for secure transactions. As brick-and-mortar stores continue to digitalize and consumers demand seamless online shopping experiences, opportunities in the e-commerce industry continue to abound.

Educational Technology

Educational Technology (or EdTech) has seen a surge of growth as the world adapts to new methods of learning. As traditional education models are reevaluated, EdTech startups are pioneering solutions that foster accessible, personalized, and engaging learning environments.

Startups are developing platforms for online learning, virtual reality (VR) experiences for immersive education, AI-driven personalized learning pathways, and much more. EdTech has the power to democratize education, making it one of the best startup industries to invest in, with the potential for significant social impact.

Delivery Services

Delivery services have emerged as a vital industry even after the pandemic. From meal deliveries to grocery deliveries and even same-day delivery for e-commerce, this industry has seen an impressive growth curve.
Startups in this space are leveraging technology to streamline the delivery process, improve logistical efficiency, and meet growing consumer expectations for fast and reliable deliveries. With the rise of contactless and drone deliveries, this industry presents a plethora of opportunities for innovative startups. Delivery services are not just a pandemic-era phenomenon, they're part of a shifting trend towards convenience and instant gratification in our everyday lives.

Charting the Course for Startup Success

The startup ecosystem is rich with possibilities across various markets, each teeming with innovation. While industries such as Climate Tech, Mental Health Tech, AI, Space Tech, and Fintech take center stage, other sectors like E-commerce, EdTech, and Delivery Services are also offering incredible opportunities for entrepreneurs. With the right combination of vision, innovation, and execution, startups in all of these sectors can shape the future of technology, society, and the planet.

FAQ

The annual Venture Atlanta kickoff event officially launches the Venture Atlanta season and serves as a preview for the big Venture Atlanta conference in October. This year’s sold-out event, sponsored and hosted by Invesco QQQ, gathered 200+ investors and entrepreneurs to connect, network, and gain valuable insights from two exciting panels covering the future of startup funding in Atlanta. In the first panel, Building AI in the Southeast, moderator Andrew Davis sat down with Sema4.ai CEO, Rob Bearden, to discuss the state of venture capital in relation to AI. Here’s what you missed:

Building AI in the Southeast

Why Now Is the Perfect Time for AI

Rob Bearden, who has built and scaled multiple companies such as Hortonworks and Cloudera, shared his journey and insights into why the present moment is ripe for innovation in Atlanta.

“In 2014, we saw a big shift called AI. [Enterprises] had all this data under management, insight into their customers, products, and supply chain, but they required humans to take that insight and do something with it.”

Rob Bearden, CEO and Founder of Sema4.ai

For him, the biggest change was the adoption of Large Language Models (LLMs). They allowed him and his team to go from just insights to taking prescriptive actions from LLM plans based on their data.

Due to this change, he decided to start his most recent commercial venture, Sema4.ai. The goal? To completely transform operating models and create value for companies that wasn’t even possible two or three years ago.

Near-term and Long-term Benefits of Building AI Startups

According to Bearden, the near-term implications of building AI startups will redefine personal organization and communication, while enterprises will revolutionize their interactions with customers, streamline supply chains, and radically enhance product distribution efficiency.

In the long term, Bearden sees multi-billion-dollar companies being built and run with less than 100 people on staff due to the automation capabilities of AI. Plus, these companies that adopt AI will take significant leaps ahead of the competition. He knows this from his experience being on the ground floor at Oracle.

“The Fortune 500 companies that embraced ERP in the early days outperformed their peers by 15-18% in terms of operating margin growth and stock performance.”

Rob Bearden, CEO and Founder of Sema4.ai

He thinks we are going to see that same trend for companies that adopt AI. Enterprises will leverage AI, data, and their applications to evolve operating models for products, supply chain, and customer engagement.

Attracting Capital Outside Silicon Valley

As a highly-experienced startup founder, Bearden was asked about the differences and advantages of the state of venture capital in Silicon Valley vs. Atlanta. 

“I think our opportunity in Atlanta is as good or better because AI has had a leveling effect for everything and everybody.”

Rob Bearden, CEO and Founder of Sema4.ai

Essentially, there are no barriers in Atlanta preventing companies from being great.

Bearden says our secret biggest advantage, however, is the number of Fortune 500 companies within driving distance of the city; Atlanta has almost 2x the number of Fortune 500 companies as San Francisco and LA put together. These companies give startups the chance to do a “pressure test” on their products, seeing how they scale under the immense usage of an enterprise.

What Atlanta Needs to Reach the Next Level

Despite Atlanta’s existing strengths, Bearden offered specific steps that may boost Atlanta’s tech ecosystem growth.

1. Resist Early Exits: Founders shouldn’t sell too soon. Stick around to see your company's full potential. And for VCs, keep the funding flowing, especially in those crucial Series A, B, and C rounds.
2. Enhance Government Support: Bearden commended the Georgia Department of Economic Development for their success in attracting capital and industry, particularly within manufacturing. However, he emphasized the need to expand these efforts by subsidizing capital specifically targeted towards Series A, B, and C financing rounds.
3. Strengthen Corporate Partnerships: Bearden highlighted the underleveraged opportunity of deeper integration between startups and Atlanta’s Fortune 500 companies. To him, virtually any software product could achieve $100 million in annual recurring revenue without ever leaving Atlanta.

Recommendations to Founders

Bearden and Davis provided actionable advice for entrepreneurs considering Atlanta as their launchpad:

1. Be Aggressive and Clearly Define Your Value: Identify precisely the problem your product solves and be clear about the value or unique "unlock" your solution provides. Some examples: enhancing top-line revenue, improving bottom-line efficiencies, or transforming customer engagement.
2. Deeply Understand Your Business Model: Map your customer journey meticulously, from initial awareness and engagement to product consumption and payment. Develop a detailed operational plan defining clear deliverables across all business functions, including sales, marketing, engineering, product development, finance, and administration. Set measurable, frequent goals to quickly identify successes and areas needing adjustment each month.
3. Measure Rigorously and Pivot When Necessary: Regularly measure the efficacy of your solution. Continuous, iterative feedback from customers is crucial for timely adjustments to your strategy, whether it’s refining go-to-market approaches or optimizing product delivery.

Q&A Highlights

How do you find interested investors in the pre-seed stage?

For founders seeking pre-seed funding, Davis emphasized leveraging local resources, particularly angel networks facilitated by institutions like Emory University and Georgia Tech. He encouraged extensive networking with investors directly aligned with your current stage and with those who might refer you to the right contacts. 

“Networking broadly is your best bet. Even connections who may seem initially misaligned with your stage can often provide valuable introductions.” 

Andrew Davis, Senior Vice President of Strategy & Investments at Cox Enterprises

How can first-time founders learn to lead at an experienced executive’s level?

Bearden shared targeted advice for first-time founders aiming to execute at a high level:

1. Trust Your Instincts: As a founder, your instincts are crucial. Trust your judgment and your vision.
2. Leverage Experienced Mentors and Partners: Engage closely with experienced mentors, investors, and venture capital partners who have achieved success. Their insights can significantly enhance your efficiency and effectiveness.
3. Set Clear, Aggressive Goals: Clearly define your desired outcomes with specific, short-term milestones. Bearden suggested breaking down goals into four-week intervals, applying this disciplined approach across product development, engineering, sales, and customer feedback.
4. Invest in Top Talent: Prioritize hiring exceptional talent, recognizing that outstanding team members significantly elevate execution. Bearden emphasized that investing in top-tier talent, despite potentially higher upfront costs, is critical. 

“You can never overpay for A-level talent.”

Rob Bearden, CEO and Founder of Sema4.ai

How much time should you spend on fundraising vs. product development?

Addressing the critical balance between fundraising and product development, Bearden and Davis offered practical guidance:

• Prioritize Financial Stability: Bearden underscored the fundamental rule for startups: never run out of money. Allocating sufficient time and resources to fundraising is essential, but founders must swiftly transition back to operational execution once capital is secured.
• Efficient Fundraising: Bearden emphasized that if founders clearly and concisely articulate their value proposition, fundraising should be a streamlined and efficient process. Difficulty in raising funds can indicate deeper issues that may need addressing within the business model or market strategy.
• Leverage Your Team: Davis highlighted the reality that founders' time is a finite and valuable resource. He encouraged founders to delegate aspects of fundraising, leveraging the strengths and skills of capable team members.

What is one piece of advice you’d tell yourself when you first started?

Reflecting on lessons learned, Bearden and Davis shared valuable insights for early-stage founders:

Bearden’s Advice:

• Clearly define and deeply understand your product’s unique value proposition, the specific problem it solves, and its differentiation from competitors.
• Actively seek experienced talent who have previously navigated similar growth paths. Incorporate their insights and advice often.

Davis’s Advice:

• Maintain perspective during the entrepreneurial journey. The high moments will never be as high as you think. And the low moments will never be as low.

The State of Venture Capital

In the second half of this event, Kim Seals, General Partner at The JumpFund, sat down with three incredible speakers to talk about Atlanta’s state of venture capital in 2025. Panelists included:

• Mark Flickinger, General Partner and COO at BIP Capital
• Joe Mancini, Co-Founder and General Partner of Front Porch Venture Partners
• Sean Banks, Partner at TTV Capital

AI Investment Trends

Sean Banks opened the panel discussion by talking about the nuances of building AI startups. While many businesses claim to be AI-driven, investors must differentiate between companies genuinely developing core AI technologies and those using AI to enhance existing business models. 

Don’t chase AI trends without fully understanding the tangible benefits delivered to customers. He drew parallels to previous technology trends, such as blockchain and cryptocurrency, highlighting that the most successful companies were those focused on delivering direct, practical advantages to end users rather than merely capitalizing on popular trends.

“The ones that did very well utilizing distributed ledger technology (DLT) were not the ones necessarily who were hot crypto or token companies, but they were the entrepreneurs who could recognize that the end customer was going to get a benefit because of that DLT, not because it was crypto.”

Sean Banks, Partner at TTV Capital

Venture Capital Trends in the Southeast

While there has been a contraction in the Southeast’s venture capital market in 2023 and 2024, Mark Flickinger is optimistic about the state of venture capital in Atlanta.

2024 saw approximately 30% fewer dollars invested than the peak years of 2021 and 2022, yet the region is still performing above 2018-2019 levels. Flickinger expects renewed growth in 2025 as the venture ecosystem continues to mature.

Comparative Analysis: Atlanta and the Southeast

Joe Mancini shared insights from Front Porch Venture Partners' recent survey, emphasizing Atlanta's role as the regional hub for venture activity. 

“Right now, Atlanta is a solid 8th in the nation for venture activity.”

Joe Mancini, Co-Founder and General Partner of Front Porch Venture Partners

He noted that surrounding cities like Birmingham, Chattanooga, and Greenville have significantly increased their startup density due to Atlanta's growth.

The survey Mancini conducted also indicated that early-stage startup capital investors demonstrated greater optimism due to the encouraging investment practices of early-stage investors. Additionally, the data revealed that investors with a broader focus beyond software sectors were notably more bullish than those exclusively investing in software ventures.

Fundraising Realities

Banks addressed practical fundraising strategies, emphasizing the pitfalls founders face due to extended fundraising cycles. He warned against the investing practices that occurred in 2021 and 2022, including the reliance on SAFE notes, which can cause substantial dilution if valuations drop.

“You should also be asking yourself, ‘Will the money I raised get me to cash flow profitability?’ You don’t want to be beholden to a situation where you have to raise capital or go out of business, because that’s the worst place to be.”

Sean Banks, Partner at TTV Capital

Banks advised founders to:

• Clearly define milestones tied to each fundraising round.
• Ensure capital raised can sustain the business to cash-flow positivity if future rounds are uncertain.
• Consider measured growth and profitability as viable, less risky alternatives to aggressive fundraising.

Atlanta’s Path to Becoming a Top-Five Tech Hub

Mancini emphasized that the state of venture capital and Atlanta’s continued success as a tech hub rely heavily on growth and collaboration.

He pointed out that investors in Atlanta currently enjoy the advantage of acquiring stakes in high-quality, high-growth recurring revenue businesses at approximately a 30% discount compared to other major markets nationwide. 

Highlighting the sentiment of a notable local investor, Mancini confidently stated, "Atlanta has all the ingredients needed to become a top-five tech hub; we just can't mess it up."

Flickinger concurred with the 30% cost advantage of Atlanta, noting that operating a business in Atlanta similarly offers substantial cost efficiencies. He advised founders and investors to approach capital strategically:

“Only take the necessary capital to get to your next fundraising stage. Take the capital and do something with it over the next 12 to 18 months.”

Mark Flickinger, General Partner and COO at BIP Capital

Flickinger says this increases your probability of success as a founder, and you retain more of your business along the way.

Obstacles to Becoming a Top-Five Venture Market

One of the obstacles to innovation in Atlanta? Banks says “executive apathy”.

“Atlanta is an executive graveyard in a lot of ways. The quality of life is good, the weather is good, money goes far, and there are a lot of places to play golf. The obstacle you run into is apathy.”

Sean Banks, Partner at TTV Capital

Banks says this is a different mindset than Silicon Valley. What Atlanta needs to see is founders who have had successful exits coming back and reinvesting in the ecosystem from the seed stage and onward.

Q&A Highlights

What are your thoughts on venture studios?

Banks answered that while he likes Venture Studios, he implores entrepreneurs to choose an investor who isn’t a generalist. You should find somebody who knows your industry very well.

Mancini says that if you are in a venture studio, be thoughtful around the economics for downstream investors and the founding team. It can get complicated going through future funding rounds. Otherwise, the focus, intensity, and creativity that come from venture studios are beneficial.

How do you deal with moving goalposts from investors?

Flickinger took this question head-on, saying the market for fundraising for newer companies is tougher than ever before. To break through, however, you need to talk to a lot of people.

“Yes, you’re going to hear a lot of no’s. But you need to talk to a lot of people, so one person doesn’t hold the future of your business.”

Mark Flickinger, General Partner and COO at BIP Capital

He emphasized that business fundamentals never go out of style. If you're building a business that's creating value and solving a problem, you can articulate that. Eventually, someone will see the story the way you see it, and they're going to say yes.

Which industry verticals have the most opportunity for growth?

Mancini answered by saying through his research, each vertical has the most success in a different market.

But he sees opportunity across the board.

“AI in the pocket of founders is going to dramatically bend the cost curve of innovation at the earliest stages and make it such that you don't ever have to raise as much money as you used to.”

Joe Mancini, Co-Founder and General Partner of Front Porch Venture Partners

My company is profitable. Should I continue raising money or bootstrapping?

Flickinger started by talking about the advantages of bootstrapping.

“You get to keep all of your company, and you get to do it how you want to do it. There's no one saying it should be X, Y, or Z.“

Mark Flickinger, General Partner and COO at BIP Capital

He added that it’s important to ask yourself, “Does the value of me taking money from a venture capitalist outweigh what I can do on my own?”

Banks jumped in by saying the most important thing to remember is that not everybody needs to take venture capital. He then gave an anecdote about how his college roommate and his wife started a company together. Private equity was knocking on their door for 30-40% of the company. They needed $750,000.

Banks gave the advice that they probably have the money, they just don’t know it. They ended up borrowing against their life insurance policy. Now, their company is cash flowing $3 or $4 million a year, and they own 100% of it. 

His final thought: Consider alternative funding sources that might be hiding in plain sight.

Experience the State of Startup Investing in Atlanta

This panel was just the start of the Venture Atlanta season. If you want to see more innovation in Atlanta, attending Venture Atlanta is a must.

Venture Atlanta is the Southeast’s largest venture capital conference. From pitch competitions to thought leadership sessions by some of the biggest names in tech, we bring together founders, investors, and more each year.

Want to learn more? See some of the highlights from Venture Atlanta 2024. If you want to experience Atlanta’s biggest venture conference for yourself, register for Venture Atlanta today! 

Frequently Asked Questions

What is the current state of venture capital in the Southeast?

The current state of venture capital in the Southeast is complicated. While recent years have seen contraction, many experts are optimistic about more growth, cash flow, and investments as the market expands.

How is AI transforming startups in Atlanta?

AI is transforming startups in Atlanta by enabling automation, enhancing operational efficiency, improving customer engagement, and creating opportunities for rapid scalability and innovation across various industries. 

What are the key fundraising strategies for early-stage startup capital?

Key fundraising strategies for early-stage startups include clearly defining your value proposition, leveraging local angel and VC networks, setting measurable milestones, and building relationships with investors aligned with your industry and growth stage.

Is Atlanta a good place to build a startup in 2025?

Yes, Atlanta is one of the top ten cities in the United States to build a startup in 2025. Atlanta offers access to Fortune 500 companies, top tech talent from the local universities, a growing VC ecosystem, and relatively low operating costs.

What sectors are gaining the most investor interest in the Southeast?

Sectors gaining the most investor interest in the Southeast include AI, fintech, healthtech, logistics, life sciences, and enterprise SaaS.

Ortez Gude is the founder and CEO of Citiri, a fast-growing startup that’s rewriting the playbook for how major infrastructure—airports, hospitals, transit systems—gets from the planning phase to successful operations.

Fresh off winning the Venture Atlanta 2024 Early-Stage Pitch Competition, Citiri is doing more than digitizing an old process—it’s defining an entirely new category. In an industry where billion-dollar projects can be undone by last-minute surprises, Citiri replaces guesswork with real-time intelligence, giving leaders the visibility and control they need to open complex facilities smoothly, safely, and on time.

And it's working. Since launching, Citiri has experienced incredible growth not just by automating a complex process—not just by automating a complex process, but by truly taming the chaos associated with bringing massive projects to successful openings and efficient long-term operations. Major international airports—including San Francisco (SFO), Los Angeles (LAX), Seattle-Tacoma (SEA), and Atlanta (ATL)—are among the customers that have used Citiri to guide complex projects to smooth, successful openings.

We sat down with Gude to talk about building trust in high-stakes transitions, creating a new category from scratch, and why owners of the world’s most critical infrastructure can’t afford to fly blind anymore.

What Problem Does Citiri Solve in the Construction Industry?

Citiri addresses a critical, often overlooked issue: infrastructure project owners are underprepared to manage the handover and operational readiness of facilities. This issue leads to costly delays and, in some cases, devastating consequences.

The platform aims to empower the organizations responsible for delivering critical infrastructure because successful project handover demands careful planning, thorough documentation, and purposeful execution.

How Did Ortez Gude Come Up With the Idea For Citiri?

Gude’s journey started in the construction industry, where he witnessed firsthand the breakdown between project completion and operational handoff. He noted that the root of the problem sits with the project owner, who is often ill-equipped to handle a complex facility’s transition into active use.

For Ortez Gude, this problem became personal. While in college and expecting his first child, his family needed life-saving cancer treatment only available at Duke University. However, the hospital had reduced its bed count due to delayed construction.

“That delay was literally a matter of life or death,” Gude said.

He first tackled this issue through Corvado, a consulting company, before realizing that true scale would only come through specialized software he was uniquely qualified to develop.

“No one was bringing on technology to help this issue,” Gude recalls. “I recognized that was because no one was looking at the problems from a project owner perspective.”

This experience ignited a 30-year obsession that led to the creation of Citiri—software designed to guarantee construction projects, especially critical ones like hospitals and transportation hubs, are delivered ready to operate. Citiri collapses the information silos and presents all stakeholders with a clear view of the project flow.

How Has the Startup Ecosystem of the Southeast Influenced or Supported Citiri’s Growth?

According to Gude, the Southeastern startup scene offers something unique: brotherhood.

Being a CEO of a startup is a tough job, and one that requires a lot of tough decision-making. It can be hard for your family, friends, and peers to understand the “why” behind your choices.

“Being a tech startup CEO is one of the hardest and loneliest jobs,” said Gude. “There are people here [Atlanta] who really understand what you’re going through.”

He explains that Southern charm mixed with high-tech grit is a recipe that not only helped Citiri thrive, but what makes the Southeastern startup ecosystem elite.

What Are the Biggest Things You’ve Learned on Your Entrepreneurial Journey?

Building Citiri has been a masterclass in prioritization and resilience. One of the things he speaks candidly about is the struggle of moving from a service-based business to a product-based one.

“It’s hard to let go of a revenue stream,” he admits, “but if you want to scale and solve the root problem, you’ve got to go all in.”

That leap required strategic shifts and a deep internal alignment.

“You have to prioritize what’s important for the company,” Gude says, “but also who you need to become in order to serve that vision.”

For him, that meant finding his own success formula. He had to learn to balance ambition, clarity, and relentless focus. He also emphasizes the importance of being “obsessed with the problem” and never stopping the learning process, especially when serving a market with high stakes like construction.

How Has Venture Atlanta Impacted Citiri's Growth?

Gude’s connection to Venture Atlanta began over a decade ago.

He first attended the conference back in 2011, during his early efforts to transform Corvado into a product-based company. Gude was eager to learn how other CEOs were navigating the same “product problem” he was facing. By 2019, Citiri had earned a spot as a showcase company. And in 2024, things came full circle—Citiri took the stage as the Early-Stage pitch competition winner.

Over the years, Venture Atlanta has not only been a place to gain exposure for him but also a gateway to meaningful connections with fellow founders, investors, and industry leaders.

“Allyson has been phenomenal for us,” Gude says, referring to Venture Atlanta’s CEO, Allyson Eman. “She is a beacon for the tech industry.”

Winning the Early-Stage pitch competition has accelerated Citiri’s growth in several ways. He credits Venture Atlanta for expanding their network, creating visibility for recruiting, and giving their team access to resources they wouldn’t have had otherwise.

Most importantly, it opened doors with investors and has exponentially grown those relationships since the conference. For a construction technology startup like Citiri, those relationships are game-changing.

How Did You Prepare For Your Pitch?

Interestingly, Gude didn’t carve out special time to prepare for Citiri’s pitch. As someone deeply immersed in solving a painful industry problem, pitching is second nature.

“I don’t know if I really prepared,” he says, “Because really, you’re preparing yourself every day.”

He emphasized that in enterprise software, it’s not just about showcasing your product—it’s about demonstrating that your company is built to last. Enterprises want to work with partners they can trust to be around for the long haul. That’s why clearly articulating both your value proposition and the long-term viability of your business is essential.

“When you’re obsessed with the problem, you naturally learn how to convince customers that you can solve it for them,” Gude says.

For him, a strong pitch is rooted in clarity of purpose and message. It’s about constantly refining your story to align with the needs of the market you’re aiming to serve.

What’s Next for Citiri After Venture Atlanta?

The exposure to over 450 investors from more than 250 funds nationwide, combined with strategic coaching, media coverage, and networking opportunities, gives early-stage companies like Citiri a powerful platform to grow.

With its Early-Stage pitch competition win under its belt, Citiri is focused on building momentum and scaling for the next phase of growth. The team is currently rebuilding the platform to support its vision, leveraging embedded AI to further streamline operational readiness software and solve infrastructure challenges faster and more intelligently.

AI in construction has become a hot topic in the industry, and for good reason. AI technologies, such as machine learning and computer vision, are being integrated into various aspects of construction, from project planning to on-site safety monitoring. These tools enable real-time decision-making, risk assessment, and resource optimization, leading to more streamlined and cost-effective projects.

As Citiri builds on this momentum, Gude and his team are committed to refining their technology, expanding their reach, and continuing to lead innovation in the construction technology startups space. The road ahead is ambitious, but Citiri is more ready than ever.

What’s Your Advice for Entrepreneurs?

Gude leaves us with candid wisdom that is applicable to everyone in the startup ecosystem:

1. Align Your Life

When you’re young and starting to get into the startup world, it can be hard to break through the noise, but it’s easier to drop everything and have fewer responsibilities holding you back. However, when you begin to have a family or marriage, it gets even harder.

“Your spouse has to be 100% bought into your idea and willing to take this ride with you, or else you will not succeed,” Gude says.

This piece of advice goes back to Gude, explaining that the startup world can be a lonely place where your family may not understand what you’re going through. However, the most important thing is not that they understand, but that they are willing to go along with it.

2. Don’t Join a Pitch Competition Just for the Sake of It

Gude feels that a lot of CEO’s lose sight of the main goal: selling.

“You’ve got to sell,” says Gude. “If you’re putting all of your time into these pitch competitions, it’s just a distraction.”

While pitch competitions can offer valuable exposure and resources, they’re no substitute for traction. At the end of the day, it’s sales, not slides, that truly scale a business.

3. Never Quit

Gude understands what it feels like to want to give up.

“It’s going to seem like there are multiple times you should quit, or your company might almost die five times,” says Gude. “But you’ve got to push through.”

That kind of resilience, he explains, is part of the entrepreneurial journey. Expecting setbacks—and pushing forward anyway—is what separates those who build lasting companies from those who burn out too soon.

Be the Next Venture Atlanta Pitch Competition Winner

Each year, Venture Atlanta amplifies the voices of startups like Citiri—putting them in front of the investors and leaders who can help bring their vision to life.

Think you have what it takes to be the next Early-Stage pitch competition winner? Stay tuned to Venture Atlanta’s event page to make sure you don’t miss your chance to be on stage next year!

In the meantime, read through our pitch competition winner spotlights from 2023:

• Seed-Stage Pitch Competition Winner Enrichly,
• Early-Stage Pitch Competition Winner Rainforest,
• Growth Stage Pitch Competition Winner Cloud Range

Another year, another incredible Startup Showcase Live at Venture Atlanta 2024! This year’s pitch competition brought together dozens of the Southeast’s most promising tech startups, all vying for a chance to take home $500,000 for their company. 

These startups went through intensive preparation, mentorship sessions, and rigorous pitch coaching, all leading up to an in-person finale in front of a panel of all-star judges and a packed audience of investors, founders, and industry leaders.

But in the end, only one startup could walk away as the 2024 Seed-Stage Pitch Competition winner—and that honor went to SmartWiz.

Keep reading to learn more about Tevin Harrell, Founder and CEO of SmartWiz tax software, and explore SmartWiz’s journey, the biggest lessons he’s found as an entrepreneur, and of course, what he and his company plan on doing with the $500,000 investment prize.

What Is SmartWiz?

SmartWiz tax software is a cutting-edge software platform designed to revolutionize the tax preparation industry by empowering tax professionals and CPAs with automated tax preparation, powered by AI.

While many people think of TurboTax when they hear “tax software,” the reality is that it only serves about 28% of the market—the vast majority of individuals and businesses still rely on tax professionals. However, the traditional tax filing process is time-consuming, often taking four hours or more per return.

How Does SmartWiz Help Tax Professionals?

By leveraging AI-driven tax automation, SmartWiz tax software streamlines the tax preparation process, reducing the time it takes to as little as five minutes. The platform helps CPAs and tax professionals work smarter, not harder—allowing them to increase efficiency, reduce errors, and serve more clients without added stress.

What Was the Idea That Sparked SmartWiz?

Tevin launched Taxx Wiz, a virtual tax prep business, in 2018. 

From the beginning, Taxx Wiz was ahead of the curve. Long before COVID normalized remote services, they were handling tax filings virtually—using Zoom and other online tools to collect documents, prepare returns, and serve clients across the country. And it worked.

The company grew rapidly, doubling revenue year over year and amassing 20,000 Instagram followers. Within four years, Taxx Wiz hit seven figures in revenue. But growth brought new challenges—demand was outpacing their ability to keep up. Like most tax firms, they found themselves overwhelmed during tax season, scrambling to hire people just to handle data entry.

Then, the pandemic happened.

During that time, Tevin and his team built an internal system that allowed them to 5x the number of tax returns they could process. That’s when the light bulb went off:

“What if we could sell this system to other tax pros and CPAs?”

That question set everything in motion. Over the next two years, they worked through IRS approvals and e-filing licenses, transitioning from a tax preparation service to a full-fledged software company.

Finally, in January 2023, SmartWiz tax software officially launched—marking the transformation from a tech-enabled service business to a true B2B SaaS company dedicated to making life easier for tax professionals.

What Are the Biggest Things You’ve Learned on Your Entrepreneurial Journey?

The entrepreneurial journey has been anything but easy for Harrell. Building SmartWiz tax software from the ground up has been a challenging, relentless process, but through it all, one lesson stands out above the rest:

“The most important thing isn’t just working on the problem—it’s working with the people you’re solving it for.”

Startups come with endless distractions—fundraising, hiring, scaling, operations—but none of that matters if you’re not obsessively focused on your customers. Tevin has learned that by consistently talking to, building for, and validating with customers, everything else becomes more manageable.

“If you stay locked in on the problem and the people you’re solving it for, the rest falls into place. Customers validate your business with their checkbooks. If they’re willing to pay for what you’re building, that’s the best signal you can get.”

That focus on customers makes pitching to investors easier. It makes applying for grants and raising venture capital more compelling. It makes hiring and scaling more strategic. While the startup journey is always going to be tough, staying obsessed with the problem and deeply connected to the people you’re building for makes it just a little bit easier.

What’s Your Pitch Advice for Entrepreneurs?

Delivering a winning pitch isn’t just about knowing your business—it’s about knowing your audience and making them care.

“The first pitch competition we ever did was Alabama Launchpad, and we quickly learned that taxes are a boring subject. People tune out almost immediately.”

That realization changed everything. Instead of just explaining SmartWiz, Tevin and his team started testing and iterating their pitch like they would a product.

They pitched to anyone who would listen—mentors, friends, incubator staff, fellow founders—constantly tweaking their approach based on feedback. Over time, they found ways to make their pitch more engaging, infusing humor and storytelling to break through the noise.

One of their favorite lines?

“There are only two certainties in life: death and taxes… and this isn’t a funeral.”

That mix of strategy and personality helped SmartWiz tax software stand out, even in crowded pitch competitions.

But it wasn’t just about what they said—it was also about how they delivered it. Tevin studied what makes great storytelling compelling, incorporating techniques like:

• Strategic pauses to create anticipation.
• Well-placed humor to keep people engaged.
• Rhythm and pacing to build momentum, like the climax of a movie.

At events like Venture Atlanta, where investors sit through dozens of back-to-back pitches, those small details can make all the difference.

“At the end of the day, your pitch is just another way to think about your customer. Whether it's an investor, a judge, or a room full of potential partners, ask yourself—how do I make them listen?”

How Did You Hear About Venture Atlanta? How Has It Helped?

Venture Atlanta was an opportunity that kept coming up in conversations with mentors, peers, and other founders.

“Everybody just kept talking about it. I was in Goodie Nation, and people there were raving about it. Then, a friend sent me an email saying, ‘Hey, you should really consider this.’ At that point, I’d heard it enough times that I thought, ‘Why not?’ and applied.”

That decision turned out to be a game-changer for SmartWiz tax software, bringing three major benefits:

1. Building a Network of Strong Allies

Venture Atlanta immediately expanded SmartWiz’s network. Whether someone loved the pitch or just connected with Tevin afterward, the exposure led to lasting relationships.

“To this day, I have people reaching out saying, ‘Hey, I was just in a meeting with a friend—turns out he’s the head of sales at Deloitte and would love to meet you.’ And those kinds of conversations keep happening because of Venture Atlanta.”

2. Raising SmartWiz’s Seed Round

Venture Atlanta lived up to its reputation as a launchpad for startups. The event directly led to SmartWiz securing its lead investor for their seed round—a process that moved quickly after the competition.

“We met our lead investor at Venture Atlanta. We had lunch right before they were heading to the airport, and the synergy was immediate. A few quick follow-up meetings later, they led the round. Within 45 days of pitching at Venture Atlanta, we had closed the round.”

3. Attracting Top Talent

Beyond investors and allies, Venture Atlanta helped SmartWiz tax software build a pipeline of potential hires.

“The reach has been amazing. Whether it was someone in the audience or someone who heard about us from a friend who attended, we’ve had incredible talent reach out. It’s helped us start conversations with people we may eventually bring onto the team.”

Even beyond winning, simply being on stage at Venture Atlanta created opportunities that continue to drive SmartWiz forward.

“Win, lose, or draw—Venture Atlanta has been huge for us.”

What’s Next for Smartwiz After Venture Atlanta?

The $500,000 investment prize is going directly to fueling the company’s next phase of growth.

“The biggest focus has been bringing on top-tier talent. We even convinced a PhD candidate in AI and machine learning to drop out and join us full-time.”

That investment in cutting-edge expertise is helping SmartWiz tax software push the boundaries of AI-driven tax automation. But talent isn’t the only priority.

The other major focus? Unmatched customer success.

“We talked about this on stage—our goal is to provide the ultimate customer success and support experience. We know that building a better product and creating massive customer love is what drives exponential growth.”

By doubling down on product development and customer support, SmartWiz tax software is making sure that every tax professional using the platform doesn’t just like it—they can’t imagine running their business without it.

What’s Your Final Piece of Advice for Entrepreneurs?

Success in entrepreneurship boils down to one fundamental truth:

“Build a great business, and they will come.”

And “they” means everyone—customers, investors, talent, and opportunities.

“It’s easy to get caught up in the noise—conferences, panels, speaking engagements—but at the end of the day, none of that matters if you’re not building a strong business.”

So, stay focused on solving the problem.

In the early days of Taxx Wiz, Tevin and his team immersed themselves in understanding their customers and the nuances of the tax industry. They worked relentlessly to build something people actually needed—and had fun doing it.

“It doesn’t have to be miserable. It’s hard, but it doesn’t have to feel like a grind just to get to the next round.’”

He also emphasizes the importance of filtering advice.

“Nobody is an expert on your business but you. Take in advice from mentors and advisors, but at the end of the day, you have to eat the fish and spit out the bones. Stay laser-focused on solving the problem.”

Be the Next Venture Atlanta Pitch Competition Winner

SmartWiz tax software isn’t the only company making waves. Each year, Venture Atlanta showcases the Southeast’s most promising startups, giving them a platform to pitch in front of top investors, industry leaders, and potential partners. 

Think you have what it takes to be the next $500,000 pitch competition winner? Stay tuned to Venture Atlanta’s event page to make sure you don’t miss your chance to be on stage next year!

In the meantime, read through our pitch competition winner spotlights from 2023: Seed-Stage Pitch Competition Winner Enrichly, Early-Stage Pitch Competition Winner Rainforest, and Growth Stage Pitch Competition Winner Cloud Range.

Frequently Asked Questions

Who Is Tevin Harrell?

Tevin Harrell is the founder and CEO of SmartWiz, an engineer-turned-entrepreneur who built SmartWiz tax software to revolutionize the tax industry.

Why Did Smartwiz Win the 2024 Venture Atlanta Competition?

SmartWiz stood out due to its innovative AI-driven tax automation, its rapid growth, and its status as one of only 15 IRS-approved software providers.

The Venture Atlanta 2024 pitch competition was our most competitive yet! Out of an incredible 630 applications, just 88 companies were selected to present their vision on a major stage in front of investors, firms, and potential hires.

Among them, only 18 growth-stage startups had the opportunity to take the stage, making the competition for top honors incredibly competitive.

One company stood out above the rest: Document Crunch, a game-changing platform transforming how the construction industry navigates complex contracts and construction document compliance.

In this blog, we’re shining a spotlight on Document Crunch, the winner of the Growth-Stage Pitch Competition at Venture Atlanta 2024. If you’re thinking of pitching at Venture Atlanta, continue reading to see how Document Crunch’s passion for problem-solving made them a growth-stage winner.

What Is Document Crunch?

Document Crunch is a construction document compliance platform purpose-built for the construction industry—a sector where risk is high, contracts are complex, and external circumstances constantly impact timelines and costs.

How Does Document Crunch Help the Construction Industry?

At its core, Document Crunch helps construction companies quickly understand and de-risk their documents, ensuring they enter contracts with clarity and confidence. But the company’s impact doesn’t stop there.

“Even if you set up those documents well and negotiate fair contracts, construction is an industry where external circumstances happen every day,” Josh Levy, co-founder and CEO of Document Crunch explains. “The administration of those contracts and documents becomes critically important for the people wearing hard hats on-site.”

That’s where Document Crunch provides real-time decision support. The platform doesn’t just simplify contract review before a project begins—it also helps teams maintain construction document compliance with contracts and other essential documents throughout the entire project lifecycle.

By making complex obligations easy to understand and administer, Document Crunch empowers construction professionals—from the back office to field teams—to mitigate risk, stay on track, and make informed decisions in real-time.

From bidding and contract negotiation to day-to-day project execution, Document Crunch ensures that construction companies don’t just sign better contracts—they manage them more effectively, reducing risk every step of the way.

What Was the Moment That Sparked the Idea for Document Crunch?

For Levy, the inspiration for Document Crunch was something he lived every day as a construction attorney.

“I was very familiar with the sophistication, cost, and time associated with reviewing these documents,” Levy recalls. “But the reality is, the vast majority of this massive $14 trillion global industry didn’t have resources like me embedded in their organizations.”

Legal tech was gaining traction across industries, but there was nothing purpose-built for construction document compliance—a sector that, despite its scale, had little investment in internal legal resources. This gap was Levy’s first “aha” moment. There was a massive problem to solve, and no one had tackled it head-on.

But the bigger revelation came from his day-to-day experiences. While Levy was deep in contract reviews, he constantly had people at his door—hard hat in one hand, a piece of paper in the other—needing immediate guidance on pressing job site issues. For every issue brought to his attention, there were dozens more happening on-site that he never saw.

“A superintendent might need to know what rebar was specified before concrete gets poured all over it,” Levy explains. “Historically, they haven’t had the ability to quickly get that answer. That can lead to big mistakes—or even worse, failure to administer construction contract management correctly, which is the number one cause of litigation in our industry.”

His realization? The problem wasn’t just about making contract review easier—it was about empowering construction professionals with the information they needed in real-time to prevent costly mistakes and instill best practices before it spiraled into litigation.

Even at firms with well-funded construction risk management teams, there were still gaps. “I simply couldn’t be everywhere, in every job trailer, making sure the right thing was happening,” Levy says. “And no one in the back office had any oversight into that accrued risk.” And when something did happen? It could mean ripping out rebar from a finished concrete structure. Or worse, a building failing due to a preventable mistake.

That’s when Levy knew: The industry didn’t just need better construction document compliance. It needed an intelligent, accessible solution that put critical legal insights directly into the hands of the people making decisions in the field.

And that’s where Document Crunch was born.

What Have You Learned on Your Entrepreneurial Journey?

The entrepreneurial journey has been more than just building a construction document compliance solution—it’s been about building an environment where people thrive.

“What I’ve really learned is how important authenticity is. As a first-time founder who doesn’t have a software background and has never run a SaaS business before, I’ve had to be open to learning. And that openness has helped me attract the best possible talent.”

Levy believes that strong vision matters, but so does listening. His willingness to acknowledge what he doesn’t know—and to bring in experts who do—has created a culture where top talent naturally gravitates toward Document Crunch. And as that talent joins, they bring in even more exceptional people, creating a flywheel effect that fuels the company’s growth.

But perhaps the biggest realization has been the profound impact this journey has had on the people within the company. “I always knew it would take a great team, but what I didn’t realize is how much this journey would mean to them,” Levy reflects.

Now, with close to 100 employees and growing, he sees firsthand how Document Crunch has become a career-defining experience for so many. And for each person, that definition is different—some are making more money than ever before, some are finding their voice, and others are part of something truly innovative for the first time.

“What I do have control over is creating an environment where people can look back and say, ‘That was a good time in my life,’” Levy says. “We’ve all had those moments in our careers, and I want Document Crunch to be synonymous with that.”

At the heart of it all, his biggest learning has been this: A company isn’t just about the product it builds—it’s about the people who build it. And for Levy, making sure the “Crunchers” have a meaningful, fulfilling experience is just as important as the company’s success itself.

How Did You Prepare for Your Pitch at Venture Atlanta?

“I never prepared for that pitch,” Levy admits. “Because I’ve been preparing for this my entire life.”

Levy’s journey in construction document compliance began nearly 25 years ago as a freshman majoring in construction management at the University of Florida. Since then, every day of his career has been dedicated to understanding, navigating, and improving the industry. That lifelong connection to the problem Document Crunch solves is something that simply can’t be faked.

“The connection I have to this problem is 20-plus years in the making,” Levy says. “It’s my life’s work.”

For him, the pitch was never about crafting the perfect presentation—it was about channeling that deep, unwavering passion for the construction industry. And that’s his biggest advice for other entrepreneurs: Find the problem you are most passionate about solving.

“Founder-market fit is a superpower,” Levy emphasizes. “Of course, there’s product-market fit and good businesses that you can build as a serial entrepreneur. But when you have founder-market fit—when you deeply understand and care about the problem—that’s when magic happens.”

That authenticity and relentless dedication have fueled Document Crunch’s success. Just recently, the construction document compliance solution was named one of Engineering News-Record’s Top 25 Newsmakers for 2024, an honor recognizing the most influential figures shaping the construction industry—not just in tech, but across the entire sector.

And while Levy’s vision laid the foundation, he knows the company’s evolution is now in the hands of a talented team and its customers.

“We’re as far down the path of my original vision as we could be,” Levy reflects. “Now, it’s about listening—to our customers, to our people. If you do that, great things happen.”

At the end of the day, Document Crunch’s success isn’t about one pitch or one moment—it’s the result of a million steps over 25 years. And with the right problem, the right team, and the right mindset, that momentum only compounds.

How Has Venture Atlanta Helped Document Crunch?

The impact of the Southeast’s startup ecosystem—particularly in Atlanta—has been profound for Document Crunch. Winning the Venture Atlanta Growth-Stage Pitch Competition was just one milestone in a pivotal week for the company, which also saw the announcement of its Series B funding the very next day.

“The Series B was already in the works before the competition, so it’s hard to decouple the two,” Levy explains. “But that week—securing the funding, winning the competition—was a major catalyst. We’ve about doubled revenue since then.”

The capital infusion has allowed Document Crunch to scale rapidly, but Venture Atlanta’s impact extends far beyond funding. The event amplified brand awareness, helping to establish the company as a top-tier player not just in construction document compliance, but in the broader business landscape.

“Brand awareness has gone through the roof,” Levy says. “And now, we’re seeing this in effect we’re becoming an employer of choice.”

That momentum is tangible. Document Crunch was recently named one of the top three startups to work for in Atlanta, a recognition that underscores its growing influence in the region. And Levy is fully committed to building something extraordinary.

“We were a remote-first company for a while,” he says. “But last year, we established offices in Atlanta and Austin, which we now consider our primary locations. We’re concentrating hiring efforts here, and we’ve grown to about 30 employees in Atlanta.”

The city’s business-friendly environment and strong talent pool have made it an ideal base for scaling the company.

“I love living here. I think it’s a great business community, and that local recognition has been a huge recruiting tool.”

Levy’s connection to the Southeast’s entrepreneurial ecosystem goes beyond just his own company’s success. He’s passionate about Atlanta’s growing presence in the innovation economy and wants to play a long-term role in shaping its future.

“Venture Atlanta was an incredible experience, not just for the pitch competition, but for the ecosystem as a whole,” he says. “I want to stay involved and engaged with the event because I believe in this community. Atlanta is a major hub for innovation, and I see Document Crunch being a foundational part of that story.”

What Advice Do You Have for Startups Pitching at Venture Atlanta?

Levy’s final words of advice? Focus on the problem.

“It’s very easy to get sucked into features-based marketing or to just talk about the business,” Levy says. “I don’t think that resonates. What resonates is focusing on the problem and being passionate about solving it. Everything else falls into place.”

That problem-first mindset has been a guiding principle for Document Crunch, not just at Venture Atlanta but in every competition they’ve won. The company previously won the gold medal at the Cemex Ventures 2021 Construction Startup Competition, a testament to the power of keeping the focus on why the company exists.

“We’re not an AI company,” Levy clarifies. “We’re a company that improves construction risk management—with AI as part of our solution. That’s the ‘how’ we do it, but the ‘who’ we are is problem-focused.”

And that’s his ultimate advice for founders stepping onto the Venture Atlanta stage: Lead with the problem. Address it authentically. Let the passion for your solution shine through.

Because when a founder is deeply connected to the problem they’re solving, it’s not just a pitch—it’s a story that resonates.

Be the Next Venture Atlanta Success Story

Document Crunch’s success at Venture Atlanta 2024 is a testament to the power of problem-driven innovation and the strength of the Southeast’s startup ecosystem. From winning the Growth-Stage Pitch Competition to doubling revenue and scaling their team in Atlanta, their journey showcases what’s possible when great ideas meet the right opportunities.

Venture Atlanta continues to be a launchpad for high-growth startups, connecting them with investors, resources, and a thriving entrepreneurial community. Whether you're a founder looking to pitch, an investor scouting the next big thing, or an industry leader eager to connect, find your next big opportunity at Venture Atlanta, the largest venture capital conference in the Southeast.

Want to learn more about last year’s Growth-Stage Pitch Competition winner? Check out our piece on The Leading Cyber Range-as-a-Service Platform, Cloud Range. Curious about what makes Atlanta a top destination for entrepreneurs? Read our Atlanta Startup Scene Guide.

Frequently Asked Questions

Why Did Document Crunch Win the Venture Atlanta Growth-Stage Pitch Competition?

Document Crunch won the VA 2024 Growth-Stage Pitch Competition by applying alongside 630 startups and was selected as one of 18 growth-stage participants. On the first day of Venture Atlanta, Josh Levy delivered a compelling pitch, capturing the attention of the audience, who voted Document Crunch into the next round. The final stage required another pitch—this time in front of a panel of top investor judges, where Levy’s deep connection to the problem, authenticity, and passion for the construction industry set him apart, leading to the judges awarding Document Crunch the top growth-stage startup at Venture Atlanta.

It should come as no surprise at this point that healthcare is quickly rising to the top of trending startup industries. At Venture Atlanta 2024, Catalyst by Wellstar kicked off the afternoon of day two with a thought-provoking session titled “Innovating Healthcare: Bridging Clinical Expertise with Entrepreneurial Vision.” Bringing together industry leaders, the discussion explored how healthcare startups, institutions, and venture capital can collaborate to drive transformative change in the healthcare sector.

Moderated by Patric Rayburn, the panel featured Beth Kost (SVP & Chief Compliance Officer, Wellstar), Dr. Daniel Fortes (VP of Thoracic Surgery, Wellstar), Nicole Cook (Founder & CEO of Alvee), and Snehal Doshi (SVP Ancillary and Support Services, Wellstar).

Breaking News: Alvee Joins Catalyst by Wellstar’s Portfolio

One of the standout moments of the session was the announcement that Alvee is now the newest portfolio company of Catalyst by Wellstar, marking an important milestone in Wellstar’s mission to invest in AI-driven healthcare startups.

Nicole Cook, Founder & CEO of Alvee, emphasized the power of AI in improving patient care, particularly in addressing social determinants of health—the non-medical factors that impact over 80% of healthcare outcomes. “AI has the power to uncover hidden challenges and give doctors a superpower to provide holistic care,” Cook said. This strategic investment showcases Catalyst by Wellstar’s commitment to healthcare venture investment, fostering technologies that bridge clinical expertise with innovative solutions.

Navigating Risk in a Traditionally Risk-Averse Industry

With 70% of startups failing, the healthcare startup sector presents unique challenges when it comes to fostering innovation. In healthcare, professionals are trained to “do no harm,” which often leads to a natural aversion to risk. Wellstar mitigates this by hosting think tanks that explore cutting-edge innovations while ensuring patient safety.

Risk-taking in healthcare extends beyond patient safety—it’s also about creating a psychologically safe environment where teams can experiment, collaborate, and challenge the status quo. Doshi emphasized the importance of a culture that supports innovation while maintaining high safety standards. Cook reinforced the need for startups to prioritize regulatory compliance and demonstrate clear ROI. “A great idea isn’t enough,” she said. “You have to prove value in a way that makes business sense for hospitals and providers.”

Bridging the Gap Between Investors and Patient Needs

A recurring theme was the need for investors to better understand the real-world needs of patients to ensure their investments in healthcare startups have a meaningful impact. Dr. Fortes stressed the importance of improving patient access, particularly for individuals with disabilities. “Resistance to change is inevitable, but global accessibility in healthcare must be prioritized,” he noted.

Cook added that social determinants of health are often overlooked by investors, despite playing a critical role in patient outcomes. Alvee is working to surface these hidden challenges, providing healthcare providers with a more comprehensive understanding of patient needs. She emphasized that technology must be used to fill these gaps in care, ensuring that underserved communities receive the support they need.

AI’s Expanding Role in Healthcare

The discussion also delved into the rapidly growing role of AI in healthcare, from predictive analytics to improving patient care. Cook described AI as a tool that enables precision patient care by identifying hidden health risks. She explained that AI-driven insights can help doctors make more informed decisions, ultimately leading to better patient outcomes.

Dr. Fortes expressed concern that while technology is advancing, the human side of medicine is suffering. “Automation should free up time for providers to focus on human connection with their patients,” he said. He emphasized the importance of striking a balance between efficiency and the personal touch that defines quality healthcare.

The Intersection of Business and Healthcare Leadership

As more healthcare professionals earn MBAs and develop business acumen, the panel examined how investors can tap into this dual expertise. Doshi highlighted the importance of partnerships between business leaders and medical professionals to advance patient care. He pointed out that healthcare is a collaborative effort, and diverse expertise is key to solving complex challenges.

Kost reinforced the need to work with regulatory experts who understand the complexities of healthcare compliance. She explained that regulations can often be a barrier to innovation, but those with deep industry knowledge can help navigate these challenges. Cook, a healthcare startup founder and, ironically, the only panelist without an MBA, shared her perspective: “I may not have an MBA, but I know how to build a company that makes an impact.”

Balancing Profitability with a Mission-Driven Approach

For healthcare startups, finding a balance between mission and profitability is crucial to long-term success. Dr. Fortes emphasized that while profitability is essential, patient outcomes must always come first. He noted that a successful healthcare business is one that reinvests profits into improving care and expanding services.

Cook acknowledged that startups must learn how to effectively communicate their mission to investors. “You have to show why your solution is both impactful and financially viable,” she said. She explained that passion and purpose are important, but they must be backed by a solid business model to ensure sustainability.

Q&A: Key Takeaways

The session concluded with an audience Q&A, during which panelists addressed pressing concerns from founders and investors.

Q: What advice would you give investors evaluating healthcare startups?

• Snehal Doshi: Focus on companies that put people first, then profits.
• Beth Kost: Ask this first: How does this solution improve patient care?
• Nicole Cook: Ensure startups understand the regulatory landscape and can clearly prove their impact.

Q: How do hospitals ensure new innovations are adopted by teams?

• Beth Kost: We engage at the ground level to ensure solutions meet real needs.
• Dr. Fortes: Lead by example—adoption happens when leadership demonstrates commitment.
• Snehal Doshi: Find an internal champion—someone who takes ownership of the initiative and drives it forward.

Q: What major changes do you predict in healthcare over the next few years?

• Nicole Cook: Rehumanizing healthcare with AI—using technology to improve, not replace, personal care.
• Dr. Fortes: Restoring the art of medicine, allowing providers to focus on meaningful patient interactions.
• Beth Kost: Accelerating research and innovation timelines through investments like Catalyst by Wellstar.

Final Thoughts: The Future of Healthcare Innovation

This session reinforced the critical role of collaboration in healthcare innovation. As AI, patient care technology, and social determinants of health continue to shape the industry, organizations like Catalyst by Wellstar are helping bridge the gap between clinical expertise and entrepreneurial vision.

Want to explore the latest healthcare startup investment trends? Read our State of Startup Investing Recap to uncover more of the Southeast’s evolving startup landscape.

Wondering what else you may have missed at Venture Atlanta 2024? Check out our full recap of this past year’s conference in our Venture Atlanta 2024 Highlights!

FAQs

How do investors evaluate healthcare startups?

Investors typically evaluate healthcare startups based on market need, regulatory compliance, scalability, and ROI potential. Startups must demonstrate a clear value proposition, a pathway to profitability, and strong leadership with expertise in both healthcare and business.

How can AI improve healthcare outcomes?

AI can enhance healthcare by analyzing vast amounts of data to detect patterns, provide predictive insights, and support decision-making. AI-powered tools help reduce diagnostic errors, personalize treatment plans, and improve operational efficiency, leading to better patient outcomes.

Why do so many healthcare startups fail?

Many healthcare startups fail due to regulatory hurdles, lack of market adoption, high costs of innovation, and difficulties in proving ROI. Without a solid strategy for navigating compliance, securing funding, and demonstrating long-term value, startups struggle to scale successfully.

The startup world is unpredictable. With ever-changing markets, funding opportunities, and economic conditions, one resounding trait separates good founders from the greats: resilience. 

In this thought leadership session from day two of Venture Atlanta 2024, three expert panelists discussed venture capital challenges and why resilience is so important to the success of VCs and founders alike. Thanks to our panelists:

• Kendra Koch, founder of Divergently, a company dedicated to supporting neurodivergent women diagnosed later in life. As an entrepreneur who navigates both the difficulties of starting a business and the additional complexities of advocating for a frequently overlooked community, Koch brings a firsthand perspective on the necessity of resilience in overcoming venture capital challenges.

• Chad Harris, investor at the Open Opportunity Fund, which focuses on building a community of outstanding Black and Latinx founders. Harris’s insights are grounded in his experiences with the highs and lows of funding cycles and the resilience to sustain faith in ventures through various market conditions.

• Brett Haskell, Chief Performance Officer at Momentum Labs and a team psychologist for the New York Yankees and the National Women’s Soccer League, shares her expertise from the realm of sports psychology. Haskell discusses resilience as a critical performance enhancer in sports and business settings, emphasizing long-term success by prioritizing mental health for entrepreneurs.

• Claude Alan Woodruff, serving as the moderator, is a Partner and Chief Growth Officer at Momentum Labs and a Board Member of the Founder Mental Health Pledge. His extensive experience in supporting mental health for entrepreneurs provides a unique lens through which the topic of resilience in startups is explored, particularly concerning founder well-being and sustainable business practices.

Through their unique viewpoints, these panelists address the multifaceted nature of resilience in startups, from mental health and venture capital challenges to the strategic approaches of VCs supporting their investments through unpredictable economic climates. Thanks again to Goodie Nation for sponsoring this thought leadership session!

The Importance of Resilience in Startups and Venture Capital Challenges

Claude, inspired by the thoughts on suffering and resilience from Nvidia CEO Jensen Huang, asked whether resilience in startups was critical to success. If so, how do you see it play out in your areas of expertise?

Founder Perspective

Kendra began by noting that as a founder, resilience is essential. If you don’t have it, you’re going to struggle. 

A lot of times, you have a big vision. You’re idealistic. You have goals, energy, and drive. But a lot can get in the way. Some you can control, most you can’t. These are the types of things that don’t go away in any business, industry, or type of company. If you don’t have resiliency, it will be challenging to get through them. 

She also said that resilience is a measurement of how much stress you can handle. If you’ve never been stress tested, you won’t be able to handle much. 

“The more resiliency you have, the stronger you are. The stronger you are, the more venture capital challenges you can take on. The more you can take on, the bigger and better company you can build.“

- Kendra Koch, Founder of Divergently

People think they need to scale back or take on less stress. Sometimes that’s not true. Often, you need stress to get stronger and handle future adversity.

Sports Perspective

Brett said that in sports, the more exceptional you become, the more failures you’ll face, and the more your exceptionality will be challenged by the exceptionality of others. 

That’s difficult to cope with when you start as a big fish in a small pond and then become a small fish in a large pond.  

Brett teaches her athletes that resiliency is the ability to adapt. To be sustainable in anything you want to be exceptional at, you have to be able to adapt. 

“You may be able to have one good game or season, but if you don’t have resiliency, you won’t be able to adapt over time.” 

- Brett Haskell, Chief Performance Officer at Momentum Labs

Brett teaches a lot about Michael Jordan. One thing people don’t appreciate enough about Michael Jordan is his adaptability. When he came into the league, he was a remarkable physical athlete. But he stayed in the league so long that his physicality stopped being what made him exceptional. He had to adjust and become a much savvier player. So, he adopted his signature fadeaway and excelled at that to overcome his declining athleticism. 

To be exceptional for a long time, you have to be adaptable. Resilience in startups is all about adaptability.

VC Perspective

For Chad, VC portfolio resilience is going up in front of an investment committee to help get an investment by any means necessary.

This means talking about how great a founder is, how great their company is, and painting a rosy picture. But, the startup journey has tons of venture capital challenges. For 5 years, he must talk to the investment committee about why he has faith in this founder or opportunity, even in the downtimes, which can be tough.

How to Find Resilience and Overcome Venture Capital Challenges

Claude mentioned that in 2002, a Harvard Business Review article was released that claimed resilience is something you find out you have after the fact. So, he asked the panel how they gained resilience.

Brett stepped up first, saying when she trains someone for resilience and grit, she focuses on the athlete’s comfort and learning zones. 

“Our brains are built to enjoy control and prediction, rather than uncertainty.  To be resilient, you have to face uncertainty over and over and over again.” 

- Brett Haskell, Chief Performance Officer at Momentum Labs

To get into the learning zone, you must teach your brain how to accept the realities of that environment and sit in discomfort. Once you’re in the learning zone, all of a sudden, you can adopt new strategies and skills, building an arsenal of techniques and tools to cope with those situations in the future. 

But, to capitalize and develop from those moments, you have to reflect on them. We all face difficult situations. Some, from the outside, seem harder than others. But, you can gain insight from any venture capital challenges you face if you go back and ask yourself: 

• What tools did I use?
• How did I get through it?
• How did it positively impact me?
• How could that impact me in the future?

This will help you build your resiliency blueprint for handling difficult moments and situations with consequences in the future. 

The bottom line: We all face difficult things. The more you face them head-on, the more confident you become in handling uncertainty. 

The uncomfortability inoculates you. Over time, you’ll be able to handle more and more discomfort. 

“That’s what mental toughness is. The ability to tolerate more and more discomfort and not have your body react like it’s a threat to your life.” 

- Brett Haskell, Chief Performance Officer at Momentum Labs

Mental Health for Entrepreneurs and Founder Resilience: Key Insights

Kendra said she builds resilience by starting with health: if you’re not sleeping, eating regularly, or taking care of yourself, it's much harder to handle things when you hit a rough patch.

She also emphasized building a support system: 

“It’s important to have friends you can call, have mentors who get it, and have a community. Tough times are even tougher in isolation.”

- Kendra Koch, Founder of Divergently

Brett piggybacked on that by saying the brain is your most important muscle. You need good brain health: it’s a metabolic organ that needs fuel to function. If you’re not fueling it consistently, your brain isn’t going to work at its peak. It’s like putting crappy gas in your car. 

Also, we’re neurobiologically wired for connection. It’s a protective mechanism by which we can handle more. Think about your brain like a rubber band rather than a piece of glass. The more you work your brain muscle, the thicker your rubber band is and the more you can stretch. 

Lessons in Resilience from VC and Founder Perspectives

Claude asked the panelists about the importance of founders having honest conversations with their VCs. Here are the responses:

Chad gave the VCs perspective, saying that in 2023 most VCs were psychologists. He then described the different types of founders:

• The founder who puts their head in the sand and acts like what’s coming is not coming 
• The angry founder who yells at you every time you say anything
• The avoidant founder that ghosts you unless they have good news to tell you
• The founder who sees everything as a challenge

With all of these different founder types, VCs have had to figure out how to best communicate with each one. 

In terms of truly honest conversations, investors have information rights. 

“The sooner founders give information to investors, the sooner VCs can help them make informed decisions.”

- Chad Harris, Investor at Open Opportunity Fund

Other companies view the act of failing as so “insurmountable”, that they have to break all types of legality to prove their success. That’s not the way to do it. 

You need to be able to fail. 

“I know VCs at Venture Atlanta who’ve said they only want to back founders who have failed at the first couple of companies because they have grit.” 

- Chad Harris, Investor at Open Opportunity Fund

Brett jumped in on the conversation to add that Chad is talking about building mindsets around approaching certain venture capital challenges. The two mindsets are:

• Growth mindset: There is no ultimate failure. Because our brains are most primed to learn immediately following a mistake or a failure. 

• Challenge mindset: If I push myself into these challenges, I’m going to get better inherently. 

Often, we miss growth opportunities because we’re ashamed of the possible failure. But founders should see that as an opportunity.

“I was taught to reframe failure as AFOG: Another F***ing Opportunity for Growth.” 

- Brett Haskell, Chief Performance Officer at Momentum Labs

If you can lean into the opportunity in front of you, your brain is in the best place to grow and develop. 

How To Be Resilient in Tough Times

Claude then asked our panelists what founders and VCs can do to prepare for tough times.

To be resilient in tough times, Kendra thinks about why she’s doing what she is doing. She reminds herself why by reading through emails and reviews of customers who say “Thank you” and “Your technology is making a difference.” 

As a former actress, Kendra also has a unique view on resilience. 

“The misconception about acting is that it’s pretending. But for exceptional actors, their skill is getting into the truth of the character, the truth of the moment, and the truth of the story.”

- Kendra Koch, Founder of Divergently 

As a founder, she reminds herself of the truth of the moment. If you do that, the problem is probably not as big as you’re making it, and the solution is easier than it originally seemed. 

She also says to look at the situation from a different point of view. Would my team, customers, or investors also say my company is a disaster? If not, then why should I think it is? 

Building a Resilience Culture in High-Performance Teams

Claude then asked the panel about their high-performance organizations. How do they support resilience in startups with intentionality?

For Brett, their company commits time and energy to it. 

“Time is the premium for anyone trying to be exceptional at anything. What we give our time to shows what we value.”

- Brett Haskell, Chief Performance Officer at Momentum Labs

The high-performance organizations she works with dedicate their time to mental health for entrepreneurs. It’s a systemic part of the culture. They offer ongoing prevention and tools—it’s not something they do only when there are problems. 

Chad says for the Open Opportunity Fund, resilient entrepreneurs are core to their organization. They invest in diverse founders from different walks of life who have gained muscles and calluses that inherently breed resiliency. 

Most of the founders he works with already had a breakeven scenario because they are not used to capital being available. They’re already thinking “How can I continue to grow this company knowing that I can’t go out and raise more money right now?” 

He added that DEI has ebbed and flowed. Nobody in his portfolio wants to receive dollars for being a woman or for their skin color. They want to build high-performing companies that can compete globally. If we invest in a black woman founder, she’s competing against everybody—not just other black women founders. They want people who can think big and who are scrappy. 

Resilience as a Solution to Venture Capital Challenges

Resilience in startups emerges as a key differentiator in the tech space, where uncertainties and venture capital challenges are par for the course. The ability to adapt, learn from failures, and rebound stronger is what sets apart successful startups and venture capitalists. This adaptability fosters a culture of continuous improvement and innovation, enabling businesses to not just endure but excel in competitive and ever-changing markets.

If you want to see more highlights from Venture Atlanta 2024, check out our full conference highlights here. You can also read through our list of startup industries gaining momentum as well as our helpful state of startup investing in Atlanta article.

Be sure to bookmark our Resource Hub to get more insights from our team of tech startup experts.

Frequently Asked Questions

Why is resilience important for startups and their founders?

Resilience is crucial for startups and their founders because it enables them to navigate the inevitable venture capital challenges and setbacks inherent in launching and growing a new business. Resilience helps founders adapt to adverse situations, maintain focus on long-term goals, and manage stress effectively. Founders who cultivate resilience can better support their teams, maintain investor confidence, and lead their companies through volatile market conditions.

How can founders build resilience?

Founders can build resilience by actively developing mental toughness and adapting to venture capital challenges as opportunities for growth. This involves stepping out of comfort zones, facing uncertainties, and learning from failures.

What role does resilience play for VCs and their portfolio companies?

Resilience plays a critical role for VCs and their portfolio companies by helping them sustain faith and support through the fluctuating fortunes of the startup lifecycle. VCs require resilience to manage the narrative with investment committees, especially during downturns. For portfolio companies, resilience cultivates the ability to pivot strategies, withstand market pressures, and seize growth opportunities despite venture capital challenges.

How does resilience relate to mental health for entrepreneurs?

Resilience is deeply interconnected with mental health for entrepreneurs. Resilience helps entrepreneurs manage the psychological stresses of running a business, from handling failure to navigating uncertainty. Building resilience involves maintaining strong mental health through practices such as regular self-care, stress management, and seeking social support.

What practical steps can founders take to improve resilience?

Founders can take several practical steps to improve resilience:

• Develop a Growth Mindset: View venture capital challenges as opportunities to learn and grow rather than obstacles to success.

• Prioritize Self-Care: Regularly engage in good health practices, including adequate sleep, nutrition, exercise, and downtime to manage stress effectively.

• Build a Support Network: Cultivate relationships with mentors, peers, and advisors who can provide both emotional and strategic support.

• Embrace Adaptability: Learn to adapt strategies and approaches in response to feedback and changing circumstances.

• Reflect and Learn from Setbacks: Regularly reflect on both successes and failures to understand what works and what doesn’t, turning each experience into a learning opportunity.

• Practice Mindfulness and Stress Reduction Techniques: Incorporate practices such as meditation, breathing exercises, or yoga to improve mental focus and reduce anxiety.

• Set Clear Goals: Define clear, actionable goals that guide daily activities and help maintain focus amidst chaos.

Starting off day two of Venture Atlanta 2024, we had an incredible bonfire chat with the founders of Scalebound who gave advice to CEOs and founders on scaling startups.

What Is Scalebound?

Scalebound is a consulting company from founders Rob Forman and Eric Spett, built to help scaling startups grow their businesses faster through teaching, coaching, and community.

Who Were the Speakers at the Scalebound Session at VA 2024?

• Eric Spett, Founder & CEO of Scalebound
  • Founder and former CEO of Terminus (VA ‘16) whose most recent raise was $90M at a valuation of $400M.
• Rob Forman, Co-Founder of Scalebound
  • Co-Founder and President of SalesLoft (VA ‘12) which was acquired by Vista at a 2.3B valuation.

At this chat, Eric and Rob, two titans of the startup ecosystem in Atlanta, discussed the process of scaling startups, and how their new joint venture Scalebound can help CEOs scale their businesses with clarity and confidence.

Keep reading to see the questions each of Venture Atlanta’s headline sponsors asked Eric and Rob during the bonfire chat and the advice they gave to scaling startups.

Scaling Challenges for Founders: What Didn’t Go Right When Starting Your Businesses?

This question was asked by Joe Berklund of Morris, Manning & Martin.

Not Embedding Purpose and Values

Rob emphasized the crucial mistake of not placing purpose and values at the heart of scaling startups from the outset.

“Probably my biggest mistake that I thankfully survived predates Salesloft," Rob explained. He didn't initially see the importance of embedding a clear purpose and values within the company's culture, thinking such measures were only necessary once the business reached a certain size or milestone. 

This oversight led to considerable internal misalignment. The experience was profound enough to cause severe chest pains and a period of reflection on what was truly important, which ultimately guided him to prioritize organizational health and align his team around a shared vision of excellence.

Not Focusing on Customer Value and Retention

Eric Spett focused on a different aspect of early-stage startup advice, discussing his initial oversight regarding customer value in his company. 

Eric admitted that while his company was proficient at driving demand and closing deals, they overlooked the significance of customer retention until it was almost too late. 

"For us, a huge mistake learned the hard way was not focusing on customer value soon enough," Eric shared. 

“We were always focused on revenue when we should have been focused on the retention number.”

- Eric Spett, Founder & CEO of Scalebound

Despite impressive annual recurring revenue figures, underlying issues with churn and retention painted a troubling picture. The company was always focused on hitting revenue targets, which masked the critical retention problems that were eroding the business's foundation. 

Eric stressed that retention should have been their rallying cry from the beginning, underscoring the lesson that understanding and delivering customer value is paramount for scaling startups.

Founder Lessons: What Leadership Lessons Have You Learned?

This question was asked by Drew Graves from ExtensisHR.

Honesty vs. Positivity

Eric highlighted the critical role of positivity in leadership, especially when creating something from nothing and managing diverse teams. However, he learned that "positivity runs out," particularly when facing challenges and roadblocks with scaling startups. Eric pointed out that solely leading with optimism can lead to missed opportunities for addressing underlying issues within the company. 

"When you become more honest and less positive, you'll be amazed how many good ideas come out.” 

- Eric Spett, Founder & CEO of Scalebound

This approach not only resolves issues more effectively but also taps into the invaluable insights that employees—often the ones closest to the problems—can provide.

Adding Too Much Value

Rob shared a personal moment of realization that occurred in the spring of 2017 when he debated stepping aside from his leadership role due to the intense pull between his personal and professional life. 

With $15 million in funding and his company beginning to scale, Rob initially thought the problem was balancing his personal and professional commitments. However, a conversation with a coach revealed a deeper issue: "You're not growing as a leader. You're the bottleneck," his coach told him. This was a symptom of Rob's difficulty in holding people accountable and his habit of adding too much value, which often undermined his team's autonomy. 

Rob learned that while leaders might aim to empower their teams, they must refrain from over-influencing their decisions. 

“I learned to stop adding too much value. I had to learn how to just say ‘Go for it.’ That started to increase ownership and empower the next line of leaders.”

- Rob Forman, Co-Founder of Scalebound

Startup Growth Tips: What’s the Biggest Risk You Took That Paid Off?

This question was asked by Jonathan Sawyer from Cherry Bekaert.

Pivoting Product 

Rob shared the story of a major pivot in his company when they initially built a product called Prospector, designed to simplify the extraction of public data from LinkedIn for salespeople and marketers. 

Despite its initial success, Rob realized the business model—essentially building on someone else's platform—was unsustainable. "We realized we were building on someone else's land, and that wasn't going to last forever," Rob explained. 

The decision to pivot from Prospector to what would eventually become SalesLoft was fraught with risks. LinkedIn started to clamp down on their data usage, which forced Rob's hand. He negotiated with LinkedIn for an additional 12 months before agreeing to shut down Prospector, transitioning almost the entire team to focus on developing SalesLoft. 

This bold move to sunset a successful product to focus on a more sustainable one proved pivotal, setting the foundation for SalesLoft’s future success.

Letting Go of Your Original Team

Eric discussed his risky decision to shut down the managed service component of Terminus to focus entirely on software. This shift was necessary as the company grew and the original team members, or "OGs," who were integral at the early stages, no longer fit the evolving needs of the business. 

"Every time you have to let an OG go, it's scary. What’s the cultural impact? Will their team leave? How is it going to impact us? It’s a big risk, but something you have to do over and over again." 

- Eric Spett, Founder & CEO of Scalebound

However, Eric emphasized the importance of aligning the team with the company's growth and strategic direction, acknowledging that while difficult, these decisions were essential for Terminus to progress. The move to focus solely on software, despite the risks involved, allowed Terminus to thrive and adapt along with other scaling startups.

Startup Founder Advice: What Is Your Advice for Someone Going After the First Million Dollars Versus $10 Million?

This question was asked by Brooke MacLean, CEO and Founder of Marketwake.

First Million: Focus

Eric stressed the importance of focus and prioritization in the journey of scaling startups looking to reach their first million. 

“The number one piece of advice: focus" 

- Eric Spett, Founder & CEO of Scalebound

In the early stages, entrepreneurs are primarily engaged in building and selling the product. He suggested a disciplined approach to managing distractions by laying out goals and priorities on paper, starting with quarterly planning, and then breaking it down to weekly and daily tasks. Eric and Rob use this productivity planner from Intelligent Change to help them focus. 

"If it's not about building or selling the product, you have to say no," he advised. Eric underscored the necessity of repeating this cycle of prioritization, focusing on execution, and iterating quickly to see real progress in the business. He also recommended tackling the hardest tasks first thing in the day to make everything else seem easier.

$10 Million: Leadership

Rob highlighted the shift necessary when scaling from one million to ten million, particularly in developing a strong leadership team. He pointed out that success in scaling startups is about more than just focus and resiliency; it involves strategic team building. Here are his four steps:

1. Build a highly cohesive team 
2. Create organizational clarity on why we exist
3. Overcommunicate clarity
4. Reinforce with human systems

He shared practical steps for achieving team cohesion and organizational clarity, such as sharing life stories among team members to overcome biases and establish deep connections. This practice, known as "Lifeline," involves each executive sharing ten personal highlights and lowlights that have shaped who they are, fostering a high-trust environment. 

Rob also emphasized the importance of role clarity within the team, ensuring that responsibilities are clearly defined and understood, with only one person accountable for each decision. 

"Your capacity as a leader is set by the capabilities of your leadership team. If you don’t build the foundation of trust early, you’re in for a rude awakening as the business scales.”

- Rob Forman, Co-Founder of Scalebound

The #1 Venture Capital Conference for Scaling Startups

For founders embarking on this ambitious path, remember that your initial million sets the groundwork, but it’s the approach to scaling beyond that will truly define your startup's trajectory. 

If you want to accelerate your startup’s trajectory, attend Venture Atlanta, the largest venture capital conference in the Southeast!

From the Startup Showcase Live to insightful panels with industry experts, Venture Atlanta has everything scaling startups need to learn, network, and grow their businesses. Click here to learn more about attending Venture Atlanta so you can start scaling your startup!

Frequently Asked Questions

How can founders prioritize effectively while scaling their startups?

To prioritize effectively while scaling their startups, founders should focus sharply on activities that directly contribute to building and selling their products. Set priorities on a quarterly, weekly, and daily basis and say "no" to tasks and opportunities that don't align with these core priorities. 

What challenges did Rob and Eric discuss about scaling their companies?

Rob and Eric discussed several challenges in scaling their companies, including:

• Prioritization and Focus: Both highlighted the difficulty of maintaining focus on the core activities that drive business growth, such as product development and sales, amidst numerous distractions.

• Team Dynamics and Leadership: Rob emphasized the challenges related to evolving the leadership team, particularly the need to ensure role clarity and build a cohesive, high-trust team environment.

• Cultural Impact of Personnel Changes: Eric mentioned the tough decisions required when original team members (OGs) no longer fit the company’s growth trajectory, and the potential fallout from these personnel changes.

• Product and Market Fit: Eric faced challenges related to early product iterations that did not adequately focus on customer retention and value, which initially led to high churn rates.

Strategic Pivots: Rob discussed the significant risk and subsequent challenges involved in sunsetting a successful product to focus on developing a more sustainable one, which required negotiating additional operational time and realigning the company's vision.

On the opening day of Venture Atlanta 2024, attendees packed the outside tent for the J.P. Morgan-sponsored thought leadership panel, “Navigating Capital Currents: Trends in Fundraising for Southeastern Startups.” Featuring insights from industry leaders Howard Lerman (Roam), Vanessa Larco (NEA), and Joe De Pinho (Riverwood Capital), the session provided valuable insights into fundraising trends shaping today’s capital environment. Moderated by Derick Duchodni of J.P. Morgan, the discussion covered critical strategies for raising capital for startups in the Southeast.

Here’s what we learned about venture capital trends and effective strategies for growth.

Key Takeaways

Before we dive deeper into the panel discussion, here are a few actionable insights and takeaways that the panel had for founders:

1. Stay Lean: Raise only what you need, and focus on creating value for customers.
2. Build Obsessed: Delegate administrative tasks, but never lose sight of product-market fit.
3. Strategize Your Board: Keep it small, focused, and composed of experienced advisors.
4. Prioritize Happy Customers: They will drive organic growth and reduce marketing spend.

Key Trends in Fundraising for Southeastern Startups

The State of the Market

Joe De Pinho highlighted a rebound in deal activity in 2024 after recent fundraising challenges. However, he noted that higher interest rates and tightened corporate budgets have impacted net retention rates and sales team productivity. Vanessa Larco emphasized Atlanta’s growing prominence in growth-stage fundraising, noting her optimism for the region’s entrepreneurial energy.

The panel agreed that while challenges persist, strategic fundraising and efficient operations are essential for navigating this capital climate.

Advice for Founders

Howard Lerman encouraged founders to stay bootstrapped for as long as possible, raising minimal capital only when necessary. “You want to work with people who believe in you,” he advised, underscoring the importance of thoughtful partnerships. Vanessa added that founders must resist the allure of inflated valuations, as “higher isn’t always better” during or after a raise.

For early-stage startups, balancing operational intensity with strategic focus emerged as a critical theme. As Joe put it, “Obsession and efficiency in bookings are key to scaling successfully.”

Deploying Capital Wisely

One recurring theme was the importance of prioritizing customer satisfaction over flashy expenditures. Howard stressed that happy customers become a company’s best advocates, lowering acquisition costs and creating organic growth opportunities. Vanessa echoed this sentiment, recounting a founder who raised a fast Series A based solely on glowing customer testimonials. “Your customers should be your best salespeople,” she advised.

Joe urged founders to allocate capital toward go-to-market strategies and product development rather than chasing trends. “Don’t be Google,” he quipped, referencing the dangers of excessive R&D spending without clear returns.

Secondary Trades and Founder Focus

When asked about secondary trades, the panelists shared differing views. Vanessa expressed caution, noting that early-stage founders should prioritize reinvesting in their companies rather than personal financial gains. Howard agreed, emphasizing that obsession with building the business should come first. 

Conversely, Joe highlighted the potential benefits of financial stability from secondary liquidity, which can encourage founders to take bold, calculated risks.

Scaling and Exit Strategies

The panelists stressed the importance of thoughtful board composition for growth-stage fundraising. Vanessa advocated for lean boards of 3-5 members to maintain focus and agility. Furthermore, Joe described the dangers of “party boards” that cheer without offering meaningful guidance. 

For founders eyeing exits, Howard shared a passion-driven philosophy: “I don’t think about exits. Starting a company is my art, and solving problems is the reward.” Vanessa countered with a VC perspective, emphasizing that founders should deliver returns for investors by maintaining valuation discipline and exploring multiple exit paths, including private equity.

Venturing Ahead

As the Southeast continues to evolve into a leading startup ecosystem, the insights from this panel offer invaluable guidance for founders navigating today’s capital currents and fundraising trends.

For more information on J.P. Morgan’s robust venture capital network and resources for raising capital for startups, check out their website here.

And for a deeper dive into all that happened at Venture Atlanta 2024, read through our Venture Atlanta 2024 Conference Highlights blog!

Frequently Asked Questions

What are the key trends in startup fundraising for Southeastern startups?

Southeastern startups are experiencing a rebound in deal activity, with a focus on lean operations and customer satisfaction.

How should startups approach early-stage fundraising in 2025?

Founders should focus on thoughtful, strategic fundraising, maintaining realistic valuations and prioritizing partnerships with aligned investors.

What is the difference between early-stage and growth-stage fundraising strategies?

Early-stage strategies prioritize lean operations and focused spending, while growth-stage strategies focus on scaling efficiently and retaining high-value customers.

How can founders navigate the current capital environment?

By focusing on happy customers, strategic capital allocation, and efficient board composition, founders can build resilient businesses.

What role do board size and composition play in startup success?

Smaller boards of 3-5 members promote accountability and decision-making efficiency, especially during early and growth stages.

The first event on day one of Venture Atlanta 2024 was the 11th annual VC panel and breakfast, sponsored by CBRE, exploring the future of SaaS and focusing on emerging trends, challenges, and opportunities. 

The panel, titled, “Is SaaS Dead?” offered a glimpse into industry perspectives on the ever-shifting landscape of B2B SaaS. Here are our biggest takeaways from the session:

Trends Shaping the Future of SaaS

The panelists addressed the evolution of SaaS and its current relevance. While SaaS isn't "dead," it is evolving, with trends like AI, fintech, and automation driving change. 

AI-Enabled Hardware Is Pushing Boundaries

Panelists expressed excitement in the opportunity of AI-enabled hardware, which can address problems that pure software solutions cannot. They emphasized the need to focus on industries that haven’t yet been significantly impacted by technology, such as the industrial sector or the Department of Defense.

Fintech and SaaS Market Trends

The intersection of financial software and health tech is a promising area, with opportunities for AI in SaaS to streamline complex tasks like insurance reconciliation and analytics. Every company should be exploring how to integrate AI into its operations to remain competitive. The panel discussed the massive opportunities for AI and automation in the healthcare back office, the office of the CFO, and the risk and compliance industry. 

Building Ahead of the Trend, Not With It

The panel advised founders to think ahead rather than follow current buzzwords. 

“I don’t care about what today's trends are. You're not going to make money playing buzzword bingo. Our job is to focus on what's coming—not what's trendy right now."

To that point, the panel noted some societal changes affecting industries in the next 5 years. There is approximately a 4.1% unemployment rate in the United States, and only 1.61 children are born per household. There needs to be 2.2 children per household to expand the U.S. economy. This demographic decline gives the U.S. fewer eligible people to provide healthcare or defend the country. To that point, automation in the healthcare, national defense, and intelligent robotics industries is crucial to keeping the U.S. economy going and providing for people as they age.

“You make money as an entrepreneur by believing and building things other people don’t believe in.”

Is Now a Good Time to Start a Fintech or SaaS Company?

There has never been a better time to build a fintech company than now. The problem before was that everyone built neo-banks; there wasn’t enough fundamental value in the products.

Now, 80% of fintech pitches are the same because founders are just adding OpenAI to their existing products. The panel advised doing the hard work if you’re going to build a product. It’s much easier to try and build and sell something built on top of OpenAI, but it doesn’t hold true value.

Advice to Founders: Controlling Burn, Raising Smart, and Team Diversity

During the panel, each panelist was asked to give one piece of meaningful advice for founders. Here’s what they noted:

• They emphasized the importance of controlling burn rate, pointing out that overspending is a common mistake for startups. Avoid hiring high-level executives like CMOs or CFOs before a company has solidified its sales process. 

• They underscored the need for ruthless prioritization, recommending that companies focus on a single metric that matters most to their business and pivot quickly if it’s not improving. Also, don’t over-raise. More money at a higher price does not mean you have a better business.

• They also challenged the traditional notion of "funding seasons." They offered up their spin on a classic phrase—ABR: Always Be Raising. Founders should always be networking and building relationships with venture capitalists, rather than waiting for the "right time" to raise capital.

“If an investor gets it wrong and you suck, they’ve got 39 other companies to fall back on. But if you rush in and your investor sucks, there is no divorce. You are going to spend with someone who sucks.”

AI and Investment: How to Navigate the Current Landscape

When discussing AI, the panelists agreed it’s not a fleeting trend but an ongoing transformation in the tech landscape. 

• AI is undergoing a "boom-bust" cycle, and while the current boom will likely see a downturn, the technology's future is bright. Companies investing in vertical AI solutions for specific industries are more likely to succeed than those chasing generalized AI hype.

• Integrating AI is essential for companies to maintain a competitive edge, especially for automating repetitive tasks and enhancing efficiency. But, it is getting harder to differentiate AI products and build moats. The only way you can do so is by partnering with enterprises and providing them with an incredible product, utilizing their data, and establishing a unique brand for your AI.

“Every portfolio company needs to be integrating AI into their capabilities. It’s key to maintaining their workforce, gaining efficiencies, and ultimately generating more profit.”

Biggest Lessons Learned From Failure

The panelists shared their experiences and insights on the lessons learned from failure. 

• Failure can often feel shameful, but it’s a normal part of the entrepreneurial journey. Keep an eye on struggling companies in your network and be open to offering support. But, be realistic about your burn. When you cut costs early, you have a lot more potential for success.

“Don’t hire short people if you’re short. Don’t hire tall people if you’re tall. I use it as a metaphor. Everyone likes to hire people like them. The best teams are actually built with diversity.”

• The #1 reason businesses fail is because people quit. Most failure comes from people not being up to the task. To be successful, you have to dig deep in year three, in year six, and in year nine to find that extra gear again and again. All successful companies have multiple points of almost critical failure.

• Forming strategic partnerships early on can be crucial, as these relationships can provide both distribution advantages and potential exit opportunities. With that, you have to balance the fine line between being transparent about the state of your business and motivating your employees. That being said, you should always tell the truth and be transparent to investors.

How to Meet Founders and Source Deals

One question the panel was asked about focused on how founders should approach VC investors. Here are their responses:

• For deal sourcing, always go for a warm intro. Most VCs have a research function to find founders. But, if you’re a founder, target your approach. Look at the content the VC firm is producing and make sure you’re a fit before cold messaging them. And, personalize the message.

• Cold outreach is another approach, especially if you like to be involved early in the process. This can be the connective tissue to other partnerships. For raising funds, panelists advised VCs to be networking all the time and putting work into relationships.

• On the other hand, some VCs do not typically take cold emails. However, if you have a reference from an enterprise, the chance a cold approach works will be much higher. Many don’t take cold outreach because as VCs, they are testing a founder’s skills. One of those skills is networking.

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Frequently Asked Questions

What does "Is SaaS Dead?" mean in the context of today’s tech landscape?

In today’s tech ecosystem, the death of SaaS looms ahead as AI tools become more prevalent in organizational workflows. SaaS is not dying though. It is changing to integrate better with AI, fintech, healthcare, and underserved sectors such as the industrial industry and the Department of Defense.

What are the biggest trends impacting SaaS today?

The biggest SaaS market trends are AI enablement, moving SaaS to underserved verticals, and the convergence of SaaS and fintech.

How can startups leverage AI in their SaaS models?

Startups can leverage AI in their SaaS models to enhance functionality, optimize processes, and create competitive advantages. Here are several ways AI can be effectively integrated into SaaS offerings:

1. Automating Repetitive Tasks

AI can handle mundane and repetitive tasks, freeing up time for teams to focus on more strategic activities. 

2. Personalizing User Experiences

AI algorithms can analyze user behavior and preferences to offer tailored experiences. In SaaS products, this could mean personalizing content recommendations, customizing dashboard views, or adjusting user interfaces based on individual usage patterns.

3. Enhancing Data Analytics and Insights

AI can process large volumes of data much faster than traditional methods, providing more accurate insights and predictive analytics. Startups can use AI-driven analytics to forecast customer behavior, detect anomalies, and identify trends.

4. Automating Customer Support and Engagement

AI-powered chatbots and virtual assistants can enhance customer support by resolving common queries, directing customers to relevant resources, or even predicting issues before they arise. This reduces the load on support teams while providing timely and consistent customer service.

What are the risks of building a SaaS company today?

Building a SaaS company today presents unique risks that entrepreneurs need to navigate carefully. Here are some of the key risks and challenges:

1. Market Saturation

SaaS market trends show that the industry has become highly competitive, with many companies offering similar solutions.

2. Customer Acquisition Costs (CAC)

With increased competition, the cost of acquiring customers has risen significantly. Paid marketing, sales resources, and promotional efforts can quickly drain budgets, making it essential to optimize CAC.

3. Churn and Retention Challenges

SaaS market trends show that customer churn remains a major issue for SaaS companies, as subscription-based models rely on consistent revenue streams. If users don't see ongoing value, they may cancel their subscriptions, leading to revenue loss.

4. Pricing Pressure

The SaaS market is known for price sensitivity. Competitors may lower prices to attract customers, forcing companies to match or reduce their own pricing, which can impact profitability.

5. Data Security and Compliance

SaaS companies often handle sensitive customer data, which brings significant legal and regulatory requirements. Ensuring compliance with data protection regulations (e.g., GDPR, CCPA) and safeguarding against data breaches is critical.

On October 8th and 9th, The Woodruff Arts Center and Atlanta Symphony Hall came alive as the 17th annual Venture Atlanta conference began! 

Venture Atlanta has been a beacon in the Southeast’s tech ecosystem since its inception in 2007. Venture Atlanta 2024 was no different. And, it was our largest conference to date! Over 1,600 founders, investors, and service providers came together, 50 companies pitched to a packed theater, and one even walked away with a $500K investment prize!

We also welcomed our second class to the Venture Atlanta Alumni Hall of Fame. Congrats to:

• Braxton Jarratt (ClearLeap) - VA alumni company, acquired by IBM in 2015
• Bill Nussey (SilverPop) - VA alumni company, acquired by IBM in 2014
• David Hartnett (Metro Atlanta Chamber) - Venture Atlanta™ Coalition Director/Co-Founder

Keep reading to get a full recap of everything that happened at Venture Atlanta 2024.

Venture Atlanta 2024 by the Numbers

• Third Sold-Out Venture Atlanta Conference
  • 1,600+ Attendees (most ever)
  • 107 Sponsors (most ever)
  • 500+ Investors (most ever)

• 630 Applications to Pitch (most ever)
  • 88 Selected Companies (15 Sectors Represented)
  • 50 Presenting Companies

• 68% From Outside of Georgia (12 Different States Represented)
  • 49% Led by Diverse Founders
  • 22% Led by Female Founders

Key Takeaways From Day 1 of Venture Atlanta 2024

VC Panel & Breakfast: “Is SaaS Dead?”

The first panel of Venture Atlanta 2024 was sponsored by CBRE and talked about the outlook of SaaS, with insights from VCs Leura Craig (Outlander VC), Mark Suster (Upfront Ventures), and Victoria Treyger (Felicis Ventures). Moderated by Lynne Laube of Valor Ventures, here are some of the biggest takeaways:

• While SaaS isn't dead, the focus is shifting away. Investors are now looking for deeper innovations, particularly in AI and hardware integration.

• Leura emphasized the potential for AI-enabled hardware to solve problems that software alone can’t address, especially in industries that have been slow to adopt technology. 

• Victoria highlighted the exciting opportunities at the intersection of fintech and health tech.

• Mark stressed the importance of always thinking ahead—investing in where the market is going in 5 to 10 years, not where it is now.

The panel also dished out some key advice for founders: control your burn rates, avoid hiring a full C-suite too early, and prioritize building strong, long-term investor relationships. 

The consensus? The future of tech isn’t about chasing buzzwords but solving real-world problems with innovative, forward-thinking solutions.

Goodie Nation Thought Leadership Session: Why Resilience Is Critical for VCs and Their Portfolio Companies

Sponsored by Goodie Nation, this thought leadership session (moderated by Claude Alan Woodruff of Founder Mental Health Pledge) brought together Kendra Koch (Divergently), Chad Harris (Open Opportunity Fund), and Brett Haskell (Sports Psychologist) to talk about the importance of reliance for VS portfolio companies.

Here are the key takeaways from the panel:

• Resilience is essential for founders and investors alike, as both face high levels of stress and uncertainty. 

• Founders must navigate setbacks, manage rejection, and keep their companies moving forward despite difficult conditions. Resilience, they argued, is not just about survival but about developing the mental toughness to grow stronger under pressure.

• Building a resilient mindset involves developing coping mechanisms for stress, relying on a strong support system, and embracing failure as a learning opportunity.

• For VCs, resilience means standing by founders through ups and downs, supporting them during tough times, and maintaining a long-term vision for their success. 

• The importance of community and connection is unparalleled. Founders who foster genuine relationships and take time to reflect and recharge are better equipped to handle adversity.

J.P. Morgan Thought Leadership Session: Navigating Capital Currents: Trends in Fundraising for Southeastern Startups

In the J.P. Morgan Thought Leadership Session, panelists Joe De Pinho (Riverwood Capital), Vanessa Larco (NEA), and Howard Lerman (Roam) shared insights on strategic capital raising in today’s cautious market.

Some important advice from each panelist:

• Howard suggested staying bootstrapped for as long as possible, being selective with outside investment, and building a strong board with experienced leaders.

• Vanessa advised that more capital or higher valuations aren’t always the best strategy.

• Joe De Pinho noted an economic rebound in 2024 but warned of challenges from higher interest rates and shrinking corporate budgets.

Altogether, the panel recommended balancing capital raising with key performance indicators (KPIs) and being cautious with early-stage secondary sales. They also noted the importance of product-market fit, customer retention, and smart capital allocation for growth. 

Overall, founders were encouraged to stay focused, raise capital thoughtfully, and prioritize long-term success over short-term gains.

Key Takeaways From Venture Atlanta Day 2

Founders Breakfast

At the Day Two Founders Breakfast, a lively discussion centered around lessons learned, mistakes made, and strategies for scaling businesses. Hosted by notable founders and VA alums Eric Spett (Terminus and Scalebound) and Rob Forman (SalesLoft and Scalebound), the session offered candid insights into the journey of building and growing companies.

Key Lessons on Leadership and Growth:

• Eric Spett discussed the importance of focusing on customer retention early. He reflected on how his team at Terminus prioritized revenue and sales growth, only to face challenges with churn and customer value later. His takeaway? Retention should be a priority from the start.

• Rob Forman emphasized the significance of integrating purpose and values into a company from the beginning. Early in his career, he neglected to do this, which led to internal misalignment. Rob also highlighted the need for accountability in leadership and how giving too much input as a boss can stifle employee ownership and growth.

Advice on Scaling and Prioritization:

• Both Eric and Rob stressed focus and prioritization. Eric noted that success comes from being laser-focused on building and selling the product, especially in the early stages. This involves regularly reviewing and updating priorities and tackling the hardest tasks first.

• Rob also discussed the importance of building a cohesive leadership team. He recommended sharing personal stories among executives to build trust and understanding, as well as defining clear roles to prevent overlap and confusion in decision-making.

Executive Roundtable: Lessons Learned From C-Suite Executives

During this Executive Roundtable, seasoned executives from various industries gave a few kernels of wisdom on what they’ve learned from being in the C-suite throughout their careers. The panel included Ryan Baretto (CEO of Sprout Social), Tom Buiocchi (former CEO of ServiceChannel), Carilu Dietrich (former CMO of Atlassian), and Marty Osborn (CEO of Be Better Inc.).

• Marty Osborn stressed the importance of negotiation, advising leaders to control the process and be prepared for tough situations, as leaving deals to chance can lead to missed opportunities.

• Carilu Dietrich highlighted that marketing is often misunderstood as a "magic wand." In reality, it amplifies what already exists. Many marketing challenges are tied to broader strategy issues, like lack of product-market fit or targeting too many audiences. She emphasized the need for clear inputs and realistic expectations from founders.

• Ryan Baretto underscored that a successful company is built on a product customers love. He advised founders to lead with the product, as it should be the best salesperson. Sprout's success comes from users engaging with the product before becoming paying customers.

• Tom Buiocchi focused on the product roadmap, encouraging companies to prioritize building features that address real customer needs rather than perfecting the product. He emphasized the importance of aligning product development with long-term revenue and growth goals.

Behind the Scenes of Venture Atlanta: What Does It Take to Be a Chair?

In this session, Venture Atlanta 2024 Chairman Joey Womack introduced 2025 Chair Elizabeth Stephens, giving insight into the dedication and vision required to lead Venture Atlanta. 

Both are incredibly excited to see what the future of Venture Atlanta holds as Stephens steps into the role of chair!

Catalyst by Wellstar Thought Leadership Session: Innovating Healthcare: Bridging Clinical Expertise with Entrepreneurial Vision

The Catalyst by Wellstar Thought Leadership Panel explored the intersection of healthcare and innovation, focusing on fostering risk-taking and collaboration in a traditionally risk-averse industry. Panelists Beth Kost-Woodrow, Dr. Daniel Fortes, Nicole Cook, and Snehal Doshi discussed how healthcare professionals and startups can work together to drive change.

Here are some of the key insights the panel discussed:

Risk and Innovation in Healthcare:

• Beth highlighted that healthcare’s “do no harm” philosophy can make innovation challenging, but Wellstar fosters a culture of psychological safety, encouraging experimentation. 
• Snehal emphasized balancing safety and innovation, while Nicole noted the importance of navigating regulatory and billing requirements to ensure success.

Patient-Centered Insights and Technology:

• Daniel stressed that patient access, particularly for those with disabilities, is often overlooked. 
• Nicole shared how companies like Alvee use AI to uncover non-clinical factors impacting health outcomes, helping doctors provide more informed care.

Balancing Mission and Profit:

• Daniel prioritized outcomes over profits but acknowledged that profits are essential to achieving healthcare goals. 
• Nicole emphasized the need for mission-driven startups to effectively sell their vision.

The discussion was lively and encouraging, highlighted by a huge announcement that Alvee, founded by Nicole Cook, is Catalyst by Wellstar’s latest investment in the health innovation space. We look forward to seeing the exceptional work and growth of Alvee with the financial backing of Catalyst by Wellstar.

Venture Atlanta 2024 Keynote: Dawn Staley

At Venture Atlanta 2024, we were honored to have Dawn Staley, highly decorated head coach of the South Carolina women's basketball team, deliver an inspiring keynote, sharing her journey from the Philadelphia housing projects to becoming one of the most successful players and coaches in women’s basketball. Her talk centered on leadership, resilience, and personal growth, offering lessons that apply to both sports and business, including:

The Importance of Process

• When you commit to the process, success and financial rewards will follow. This mindset has guided her throughout her career, both as a player and a coach.

Building a Complementary Support System

• Staley stressed the importance of allowing others to contribute and create a culture of collaboration, both on and off the court, even if they’re more experienced than you.

Leadership Through Tough Decisions

• Staley explained that sometimes you gain by losing and that making the unpopular but right decision is essential for the success of the group.

Personal Standards and the Power of Discipline

• Staley believes that a disciplined person can achieve anything. Be selective about who you allow into your life, as the people around you can either lift you up or drag you down.

Venture Atlanta 2024 Pitch Competition Winners

At this year’s Venture Atlanta conference, we capitalized on the success of last year’s pitch competition format by running it back this year! On day one, 50 companies in the Seed, Early, and Growth stage startup categories pitched to a theater full of investors and other entrepreneurs, where an audience vote selected the top companies from each category to move on to the next round.

On day two, those selected companies returned for a live Q&A with a panel of investor judges—the top Seed Stage startup was awarded $500,000 as an investment prize for winning the first annual Startup Showcase Live!

Here are the top companies that made it for each category:

Seed Stage Winner: SmartWiz

SmartWiz is revolutionizing the tax preparation industry with its AI-powered "co-pilot" for tax professionals. Positioned as a solution that simplifies the complex and time-consuming process of filing taxes, SmartWiz allows tax professionals to upload documents, engage in a conversation with the platform, and have AI input the necessary data—all in a fraction of the time. What typically takes tax professionals four hours is now reduced to just 20 minutes.

With $1.1 million in revenue and recently securing IRS approval, SmartWiz is among the few companies in the tax software space bringing true innovation. The platform allows tax pros to integrate and manage file returns in one place, streamlining a traditionally cumbersome process.

After a well-executed pitch at Venture Atlanta, SmartWiz was named the winner of the Startup Showcase Live, securing a $500K investment prize for their ambitious mission to modernize tax prep software. Congrats to SmartWiz!

Other Finalists

• Good Agriculture - A farm business management platform helping small to mid-size farms save time and improve profitability.

• CrewOS - An industrial strength project management platform, built specifically for the industrial market.

• 360 Direct Video - The first-ever solution to bridge the customer service gap for deaf individuals.

Early Stage Winner: Citiri

Citiri is tackling the staggering 99.5% failure rate of infrastructure projects with its innovative CitiriOS platform. Designed to focus on operations-centric data models and stakeholder engagement, Citiri helps ensure project benefits and economic outcomes improve. 

Initially focused on the aviation sector, Citiri is expanding into transportation, shortening sales cycles with a targeted marketing approach and a reputation for articulating clear value propositions. The platform’s average implementation takes just three weeks, embedding best practices directly into the software and making it a user-friendly solution for large infrastructure projects.

Looking ahead, Citiri plans to enhance its executive dashboard and add fintech services for ancillary partners, continuing its mission to revolutionize infrastructure project success. Citiri’s impressive pitch won them the Early Stage Startup Pitch Competition at Venture Atlanta. Well done!

Other Finalists

• Ovum Health - A proven, at-home fertility treatment solution covered by insurance.

• SupportPay - The all-in-one app to simplify finances for modern families.

Growth Stage Winner: Document Crunch

Document Crunch is transforming the $13 trillion construction industry with its AI-powered compliance platform. With years of experience as a construction attorney, co-founder Josh Levy recognized that contract compliance is a major cause of the billions lost annually in construction. Document Crunch solves this by helping general contractors and subcontractors manage risk and ensure contract obligations are met, from the back office to job sites.

Unlike any other platform in the space, Document Crunch is the only end-to-end compliance solution tailored for construction. Document Crunch won the Growth Stage Pitch competition at Venture Atlanta 2024 after a standout performance!

Other Finalists

• FieldPulse - An all-in-one software making it easier for field service businesses to run.

• Linq - The pocket CRM, helping salespeople seek, manage, and close leads through digital business cards.

Venture Atlanta 2024 and Beyond

Thank you for attending Venture Atlanta 2024! This was our biggest and best year yet—and we’re incredibly excited for what next year has to hold.

There are so many people who came together to make Venture Atlanta 2024 possible, so a massive thank you goes out to:

• Our Venture Atlanta 2024 Chairman, Joey Womack
• The Venture Atlanta 2024 Board of Directors
• The support of our 100+ sponsors
• Our Title Sponsor for the 5th year in a row: Invesco
• Our Premier Sponsor: J.P. Morgan
• Our headline sponsors: Cherry Bekaert; DELL Technologies; ExtensisHR; Morris, Manning, & Martin LLP; and Marketwake.

To stay in touch with everything going on with VA and get all the info ahead of time for next year’s conference, be sure to subscribe to our newsletter and follow us on X, LinkedIn, Instagram, and Facebook.