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After my experience with Rob when he invested at my last startup, I knew I wanted him to be involved with Harvest.”
“It all started with Drew Sievers, as Harvest’s CEO and founder,” said Rob Rueckert, Managing Partner, Sorenson Ventures. “We worked closely when I invested in his previous company, mFoundry, which was acquired by FIS. Drew is unique in that he’s a seasoned founder with several successful exits under his belt. Yet, he’s still as hungry and driven as any founder I’ve ever met.”
Harvest Savings and Wealth Technologies was a Larkspur, CA-based software company that built products to help any size bank or credit union retain and grow deposits, drive fee revenue, and lower operating costs. Harvest developed automated savings and investment products as well as system intelligence that worked with its financial institution customers’ core systems to optimize bank and credit union engagement with their own customers.
Rueckert continued, “Drew attracts top people and builds effective organizations by providing the support, autonomy, and space to grow and succeed. His people are fiercely loyal, and he is able to create repeat networks at each of his companies.”
“After my experience with Rob when he invested at my last startup, I knew I wanted him to be involved with Harvest,” said Drew Sievers. “Rob is the rare investor who is calm, measured, and able to align the company’s best interests with those of his limited partners. He has no ego and is always available exactly when I need his advice, ear, or help with a difficult decision.”
Sorenson Ventures led Harvest’s Series A in 2018. The company grew rapidly and raised an additional $23 million in equity and debt financing in September 2019. Envestnet, an NYSE-listed public company that provides technology and data solutions to wealth managers and financial advisors, acquired Harvest in April 2021.
“At his last company, Drew and his team developed advanced mobile technology for small and medium-sized banks which couldn’t afford to build it themselves,” explained Rueckert. “Harvest successfully followed a similar playbook. This time they developed a sophisticated wealth management platform for the same customer segment they knew very well. Drew didn’t need my assistance often, but he knew exactly when to bring me in and where I could help. It was a partnership that worked very well.”
The CEO of the portfolio company listed above has not received any compensation for this feedback and did not invest in any Sorenson fund.