Austin-Based Venture Capital Fund Continues to Grow In-house Team with Leading Technology Executive
AUSTIN, Texas–(BUSINESS WIRE)–July 15, 2020–
Next Coast Ventures, an Austin-based venture capital firm investing in entrepreneurs on the ‘Next Coast’ of innovation, today announced Cotter Cunningham as its new Entrepreneur-in-Residence as part of its mission to partner with innovative entrepreneurs creating companies that match its investment themes.
Cunningham was previously the founder and CEO of RetailMeNot, Inc., a leading savings destination. Cunningham raised nearly $300 million from investors including JP Morgan, Austin Ventures, GV (Google Ventures), Norwest Venture Partners and IVP. He grew RetailMeNot organically and through numerous acquisitions from a startup to a publicly-traded company (NASDAQ: SALE) with approximately $300 million in revenue and 600 employees in the U.S. and EU. In 2017, RetailMeNot sold for $630 million to a subsidiary of MacAndrew & Forbes. After the sale, Cunningham remained Chairman of RetailMeNot and served as Managing Partner of MacAndrews & Forbes’ Ventures, actively evaluating technology initiatives and potential investments.
“Cotter is one of the most successful consumer Internet executives in Austin’s history,” said Thomas Ball, co-founder and managing director of Next Coast Ventures. “I had the honor of being the first outside investor in RetailMeNot and his first Board member. While at RetailMeNot, Cotter balanced rapid growth and profitability while creating a culture of innovation that attracted world class software engineering and product talent. It is always important to us to have a strong entrepreneur in our office to provide their perspective on market trends. Cotter brings his expertise in entrepreneurship, success as a great CEO and leader, and knowledge of the Austin ecosystem to Next Coast Ventures, and we could not be more thrilled to be partnering with him as he identifies his next project.”
Prior to RetailMeNot, Cunningham was Chief Operating Officer of Bankrate, Inc. helping take the company public in 1999. He was also an executive at VML and H&R Block and wrote his own book called Your Financial Action Plan: 12 Simple Steps to Achieve Money Success. Cunningham has an MBA from Vanderbilt University and a BA from the University of Memphis. Cunningham will continue to serve as a member of Next Coast Ventures’ Entrepreneurs Council.
“I am very pleased to expand my role at Next Coast Ventures to become an Entrepreneur-in-Residence,” said Cunningham. “The last time I was an EIR, Tom and I worked on an idea that became RetailMeNot. I am excited to see what we can create this time. Also Next Coast’s deep experience in consumer Internet and emerging platform companies, and its ‘built for entrepreneurs by entrepreneurs’ ethos make the firm a great partner as I explore potential opportunities.”
About Next Coast Ventures
Next Coast Ventures is an Austin venture capital firm that partners with bold entrepreneurs building innovative companies in big markets. It provides early-stage capital to high-growth startups in ‘Next Coast’ markets, using macro trends and themes to guide its investment strategy. Next Coast provides its growing group of portfolio companies hands-on, company building resources through its strong industry network, Entrepreneurs Council program and the founders’ own experiences as entrepreneurs. Learn more at https://www.nextcoastventures.com/.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.