Circumference Group Participates in New Financing Round for Recurrent
Circumference Group’s Venture Studio to Oversee Investment, Arthur Orduña To Serve as Advisor
LITTLE ROCK, AR. APRIL 13, 2022 – Circumference Group, a unique, operationally-focused investment firm led by former Endurance International CEO Jeff Fox, today announced the firm’s Venture Studio, CG Ventures, has invested in Recurrent, a platform that generates reports on electric vehicle battery usage for prospective and current electric vehicle owners, as part of the startup’s fundraising round.
The investment highlights CG Ventures’ mission of identifying, developing and funding early-stage companies poised to benefit from Circumference Group’s unique operational and strategic management expertise. As part of the investment, Arthur Orduña, Chief Innovation Officer of Circumference Group and Head of CG Ventures, will serve as an advisor to Recurrent with his background in commercial fleet innovation at Avis Budget Group.
“Our partnership with Recurrent is a prime example of our ongoing focus on investing in talented people building strong businesses“ said Jeff Fox. “Through our investment, we will provide both capital and hands-on operational expertise to support Recurrent’s long-term growth and strategic value creation in the emerging EV marketplace.”
Founded in 2020, Recurrent currently services 8,000 active drivers across 50 states. The company seeks to provide valuable and transparent data surrounding electric vehicle usage and allows both current and prospective EV owners to generate various reports that detail overall EV battery health. By accessing this information, shoppers and owners can better monitor EV range and better determine when to purchase or sell an EV vehicle with confidence.
“The CG Ventures team is already leaning in with their technical and strategic expertise. This is exactly the kind of investors we love to work with” said Scott Case, CEO and co-founder of Recurrent.
Backed by Circumference Group’s team of highly experienced C-suite operators, technologists and investors, alongside the team’s global relationships and advisory roles, CG Ventures supports innovative and disruptive early stage companies as they scale their businesses in preparation for future funding and growth. For more information on CG Ventures please visit www.circumferencegroup.com/early-stage-cg-ventures/
About Circumference Group
Circumference Group is an investment firm designed to deliver superior risk-adjusted performance for its capital partners. The firm leverages the broad and deep operational experience of its team to thoroughly understand a target investment’s current competitiveness and performance and the execution risks that may prevent it from reaching its performance potential. Circumference Group invests when its organizational insight, operational intelligence and strategic perspective identify pathways to significant value creation with mitigated risk.
Circumference Group was founded in 2009 by a team of veteran business operators and investors led by Jeff Fox, a proven executive who has served in multiple leadership roles including CEO of Endurance International Group, CEO of Convergys Corp. and COO of Alltel Wireless. For over a decade, Circumference Group has successfully invested in the public and private markets utilizing its Core Value Assessment (CVA), a proprietary framework that evaluates a company’s growth and cash flow potential, as well as its organizational and operational strengths and weaknesses. The CVA underpins all of Circumference Group’s investment strategies. For more information please visit www.CircumferenceGroup.com.
Recurrent was founded in 2020 to provide transparency and confidence in pre-owned electric cars. Through its comprehensive battery reports for EV owners, buyers and sellers, it aims to accelerate the overall adoption of electric vehicles.
For more information on Recurrent, visit https://www.recurrentauto.com/.
Jansel Murad / Zach Kouwe
Dukas Linden Public Relations
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