SPOOL ANNOUNCES LAUNCH OF SPOOL VENTURES AND SPINDLE, SPOOL FOR STARTUPS

The High-Growth Creative Agency Expands in the VC and Startup Space Supporting Traditionally Underrepresented Companies Through Investment and Marketing Services

CHICAGO, Sept. 20, 2022 /PRNewswire/ -- Today Spool, one of the fastest-growing creative marketing and communications agencies in the country, has announced the launch of two new business units to bolster the agency's footprint within the VC and startup space.

Spool Ventures is the agency's investment arm which has made both capital and sweat-equity investments in a portfolio of startups and VC funds with a lens towards impact and equity. Spindle is Spool's startup practice, which officially launches after a beta test phase in both first and second quarters of 2022. Both Spool Ventures and Spindle will concentrate on investing and working with startups run by women, BIPOC, LGBTQ+ and other underrepresented founders and leaders.

"To see these two extensions of Spool come to fruition in tandem with the agency's fourth anniversary is a testament to everyone at Spool and the vision we share of propelling brands that improve our homes, communities and planets for all," said Catherine Merritt, founder and CEO of Spool. "By growing, investing and reimagining brands, we're harnessing the work we do every day for our clients and bringing these services and mindsets to startups who are rooted in impact, sustainability and equity. The lack of investment that goes towards women, BIPOC and otherwise underrepresented founders is wrong and reflects a broken system, which Spool is set out to shake up and reimagine. Make no mistake, this is a cohesive ecosystem, one that will fuel Spool's entrepreneurial mindset, connect current clients with emerging technology and startup solutions within their industries and use our industry to drive positive change in the world."

To-date, as an LP in four venture capital funds, Spool Ventures has invested in over 25 startups and high-growth brands. The funds Spool Ventures has invested in includes Silicon Road Ventures, Supply Change Capital, Portfolia's Food and AgTech Fund and Portfolia's Green and Sustainability Fund. Spool is also a sweat-equity investor in Coco5, a Chicago-based sports drink brand, and Blue Blazer, a ready-to-drink cocktail brand, also based in Chicago. 

"Supply Change Capital believes in a future of food that is sustainability mindful, supply chain efficient, better for you, and culture rich, aligns with Spool's vision of growing brands through an impact-driven lens," says Shayna Harris, co-founder and managing partner of Supply Change Capital. "We're thrilled to welcome Spool Ventures as an LP within our fund and to work together to leverage Spool's marketing and PR expertise and passion for early stage founders to help our portfolio companies grow."

Spindle, the startup arm of Spool, will offer underrepresented founded-startups and businesses with exceptional marketing support at a lower bill rate to reflect the challenges these founders have with garnering traditional investment (only 2% of institutional VC goes to underrepresented founders). Spindle will also explore services in exchange for sweat equity. Marketing and PR veteran Edward Hoffman will be the director of Spindle and lead strategy and marketing support for its forthcoming clients. Hoffman has extensive experience within the food, sustainability and emerging-ingredient and agriculture space, which will lend tremendous value to Spindle's clients.  

For the beta launch, Spindle partnered with Pop Up Grocer to provide marketing services to the winner of their Pop Up Fund, plant-based jerky brand Jack & Friends. Spindle is currently accepting requests from startups and early-stage brands as its inaugural launch client.

Spool, founded in 2018, is the leading people-first agency committed to propeling brands focused on improving consumers' lives at home, throughout their communities and the planet. Spool entered 2022 on a high, having been named the fastest-growing agency globally by PRovoke Media in 2021. In August 2022, Spool was listed as the 940 overall fastest-growing private company in the country, positioning it within the top 20% of the overall Inc. 5000 list. Spool ranked as the 71st fastest growing company within the marketing space and 46th overall in Chicago where the agency's headquarters reside. Spool's clients include nutribullet, The General Auto Insurance, American Dental Association, OZO Foods and Alliant Credit Union, among many others.

Spool is the leading people-first creative and innovation agency. Based in Chicago, Spool has seen exponential growth (684% over the past three years) in its marketing services arm along with its new VC arm, Spool Ventures and its startup-focused practice, Spindle. With an entrepreneurial mindset and global agency pedigree, Spool delivers strategic, integrated, high-impact communications and creative campaigns that drive maximum growth and scale for clients.

Media Contact:
Meghan Kelly
(630) 360-0020
[email protected]

SOURCE Spool Marketing and Communications