The startup picture in Asheville

Venture depth is limited: only 78 of 1293 tracked companies have ever raised outside money, compared with 128 funded startups in Chattanooga.

Startups in Asheville - Funding, Founders & Investors

Everything startup in one place: who's building, how the landscape clusters, the people and investors behind it, and whether the capital is real.

RHA

Company providing disability services in multiple states

est. 1989 · 6,016 staff · raised outside money

Gordon Simmons — CEO

Jeanne Duncan — CEO

Earth Fare

Local Organic Grocery Delivery Service

est. 1975 · 3,050 staff · raised outside money

Frank Scorpiniti — CEO

Pine Gate Renewables

Developer of utility-scale solar and energy storage projects

est. 2016 · 1,099 staff · raised outside money

James Luster — Co-Founder

Ben Catt — Chief Executive Officer

Tupelo Honey

Scratch-made, farm-to-table Southern food and tradition company

est. 2001 · 681 staff · raised outside money

Stephen Frabitore — CEO

IronDirect

Online platform for purchasing and selling equipment and parts

est. 2002 · 627 staff · raised outside money

Tim Frank — CEO and President

Genova Diagnostics

Genova Diagnostics: Personalized Lab Services

est. 1986 · 394 staff · raised outside money

Chris Smith — CEO

BioVendor

Immunoassays, recombinant proteins, antibodies, and endotoxin-removal products developer and manufacturer

est. 1992 · 380 staff · raised outside money

Viktor Ruzicka — CEO

East Fork

Internet-first brand of handicraft kitchenware products

est. 2010 · 130 staff · raised outside money

Connie Matisse — Co-Founder & CMO

Zerorez

Multi-national, multi-surfaces cleaning company using water-based cleaning agent

est. 2000 · 111 staff · raised outside money

Gaylord Karren — Co-Founder

Shawn Moon — CEO

Avadim Health

Therapeutic Skincare for Immune & Neuromuscular Health

est. 2007 · 94 staff · raised outside money

Steve Woody — CEO & Director · Bachelor Of Science UNC Asheville

French Broad Chocolates

Bean-to-bar chocolate with a focus on sustainability and transparency.

est. 2008 · 80 staff · raised outside money

Daniel Rattigan — Co-Founder

Jael Rattigan — Co-Founder

Highland Brewing

Highland Brewing Company: Craft Beer with a Commitment to Sustainability

est. 1994 · 77 staff · raised outside money

Oscar Wong — Founder & VP

Leah Ashburn — CEO & President

Cloud for Good

It's all about your mission.

est. 2010 · 71 staff · raised outside money

Tal Frankfurt — Founder & CEO

DoctorDirectory

A listing platform of doctors and healthcare facilities and community of doctors

est. 1996 · 71 staff · raised outside money

Jay — CEO

Poppy Handcrafted Popcorn

Brand of popcorn

est. 2016 · 62 staff · raised outside money

Ginger Frank — Founder & CEO

Topple Track

Independent music distribution, promotion, and rights management for creators

est. 2011 · 50 staff · raised outside money

Jorge Brea — CEO

Zach Marburger — Co-Founder & ex-CEO

Buchi Kombucha

Private label manufacturing platform for fermented functional beverages.

est. 2009 · 43 staff · raised outside money

Jeannine Buscher — Co-founder/owner

Sarah Schomber — Co-Founder

FLS Energy

A solar EPC company

est. 2006 · 43 staff · raised outside money

Dale Freudenberger — Co-Founder

Galaxy Digital

Technology to strengthen communities by connecting people and resources.

est. 2009 · 38 staff · raised outside money

Doss Church — Co-Founder & CEO · Bachelor of Science Auburn University

Richard Kim — Managing Director

The Climate Service

Climate Risk Analytics SaaS

est. 2014 · 32 staff · raised outside money

James McMahon — CEO

BuildFax

Property data and analytics for understanding risk and its evolution

est. 2008 · 31 staff · raised outside money

Holly Tachovsky — CEO and Founder

Joe Masters Emison — CTO and Co-Founder

Franny’s Farmacy

Developer of e-commerce platform for cannabis products

est. 2018 · 30 staff · raised outside money

Jeff Tacy — CEO

VirtualJobShadow

Career exploration platform providing resources, assessments, and tools for educational institutions

est. 2004 · 27 staff · raised outside money

Ilya Gorelik — Co-Founder and Chief Technology Officer

Innovative Solar Systems

Innovative Solar Systems: Sustainable Clean Solar Farms

est. 2011 · 25 staff · raised outside money

John Green — CEO · BSEE University of South Carolina

cluster · 221 companies

Business Services

10 founded since 2018 · 6 funded

Sub-themes

marketing services · 74it services · 24legal services · 22hr services · 18event management services · 14services for nonprofits · 10

e.g. nunode, Ward and Smith, pisgah legal services

cluster · 184 companies

Healthcare

11 founded since 2018 · 9 funded

Sub-themes

clinic chains · 70rehabilitation and long-term care · 33services for healthcare providers · 14fitness and wellness centers · 12cannabis brands and retailers · 6medical device distributors · 6

e.g. Mission Health, RHA, Allergy Partners

cluster · 125 companies

Real Estate And Construction

10 founded since 2018 · 3 funded

Sub-themes

real estate brokers · 25real estate & infrastructure developers · 25interior designers · 15architects · 15green buildings · 7construction management services · 7

e.g. (cte) carolina tractor and equipment company, mb haynes, McGill Associates P.A.

cluster · 94 companies

Consumer

10 founded since 2018 · 4 funded

Sub-themes

b2c e-commerce · 32professional consumer services · 17fashion tech · 8temples and religious trusts · 7hrtech · 6internet first brands · 6

e.g. eliada homes inc, billy graham training center, Zerorez

cluster · 91 companies

Consumer Goods

9 founded since 2018 · 9 funded

Sub-themes

food & beverage products · 22home furnishing products · 13alcoholic beverage products · 12internet first brands · 9baby & kids products · 7fashion accessories · 6

e.g. East Fork, moog music, Wicked Weed Brewing

cluster · 75 companies

Enterprise Applications

14 founded since 2018 · 9 funded

Sub-themes

saas · 18enterprise software · 17marketingtech · 15hrtech · 13nonprofit tech · 6b2c e-commerce · 5

e.g. IronDirect, gehrimed electronic health record, ECE

cluster · 74 companies

Financial Services

2 founded since 2018

Sub-themes

finance & accounting services · 18asset management · 14insurance carriers · 12services for investment industry · 10consumer and sme loans · 7banks · 5

e.g. Fairway Independent Mortgage, asheville savings bank, Parsec Financial

cluster · 72 companies

Food And Agriculture

6 founded since 2018 · 9 funded

Sub-themes

alcoholic beverage products · 18food service chains · 15food & beverage products · 9services for forest and wildlife · 5restaurants · 5services for crop farming · 4

e.g. Earth Fare, Tupelo Honey, Biltmorefarms

cluster · 61 companies

Retail

6 founded since 2018 · 5 funded

Sub-themes

b2c e-commerce · 18internet first brands · 15fashion tech · 9food & beverage products · 6b2c fashion e-commerce · 5retailers · 5

e.g. IronDirect, eliada homes inc, afg distribution

cluster · 45 companies

Media & Entertainment

4 founded since 2018 · 2 funded

Sub-themes

internet first media · 16film & tv studios · 10internet first news publishers · 5b2c e-commerce · 5radio tech · 5book tech · 3

e.g. TheCheatSheet, world magazine, Topple Track

Founder & Background	Role	Company
Jeanne Duncan University of NC.	CEO	RHA
Ben Catt Pine Gate Renewables, ex-Fls Energy, Indiana University Bloomington	Chief Executive Officer	Pine Gate Renewables
Tim Frank ex- International Construction Products, Sany Heavy Industry, Volvo Construction Equipment. Illinois State University 1994	CEO and President	IronDirect
Chris Smith ex- Orchid Biosciences, Lifecodes, Pathology Partners; MBA, BA - Texas A&M	CEO	Genova Diagnostics
Connie Matisse University of California, Berkeley 2007	Co-Founder & CMO	East Fork
Steve Woody Ex- G3 Medical. University of North Carolina	CEO & Director	Avadim Health
Daniel Rattigan Ex- Founder Bread & Chocolate. Oberlin College BA 2002	Co-Founder	French Broad Chocolates
Jael Rattigan University of Wisconsin Madison 1996, Lenoir Rhyne University MBA 2018	Co-Founder	French Broad Chocolates
Oscar Wong U of Notre Dame, BS, MSc 1963.	Founder & VP	Highland Brewing
Leah Ashburn Herff Jones. University of North Carolina at Chapel Hill BA 1992.	CEO & President	Highland Brewing
Jorge Brea Founder NoisePorn, Founder Symphonic Distribution.	CEO	Topple Track
Zach Marburger Indiana University–Purdue University Indianapolis	Co-Founder & ex-CEO	Topple Track
Brandon Cook 1 800 Contacts, ex-Clean Origin, ex-Lia Sophia, University of Denver	Co-Founder	Topple Track
Jeannine Buscher Fedup Foods, Texas Woman's University, 1997	Co-founder/owner	Buchi Kombucha
Dale Freudenberger Co-Founder Hollis Holdings, SunEnergy1, ex-Scottsdale Construction Company, Crest Enterprises. Nasson College	Co-Founder	FLS Energy
Doss Church Chief Marketing Officer-New Canaan Impact Capital \| Auburn University BS, Marketing 1993	Co-Founder & CEO	Galaxy Digital
Richard Kim Galaxy Interactive, ex-Goldman Sachs, J.P. Morgan, Cleary Gottlieb Steen & Hamilton. University of Washington BA 2004, Columbia La	Managing Director	Galaxy Digital
James McMahon Self Employed, ex-The Climate Service An S And P Global, ex-The Collider, Massachusetts Institute of Technology, 1993	CEO	The Climate Service
Holly Tachovsky Ex- BUILDERadius, Manos de Cristo	CEO and Founder	BuildFax
Joe Masters Emison Ex- TrentSoft, BUILDERadius	CTO and Co-Founder	BuildFax

backgrounds shown where available

77 investors are on record backing Asheville companies. The most committed:

Most active — backed 2+ companies

United States Department of Agriculture

NCBiotech

Convergent Capital

Institutional

NCBiotech · accelerator / incubatorStart · accelerator / incubatorBacked · VC fundTrident Capital · VC fundVital Force Capital · VC fundNew Energy Capital · VC fundNovus Energy Partners · VC fundVision Ridge Partners · VC fundPersei · VC fundHatteras Venture Partners · VC fundWells Fargo Startup Accelerator · accelerator / incubatorPSG · VC fundDetroit Equities · VC fundCofounders Capital · VC fund+ 13 more

Private & corporate backers

United States Department of AgricultureConvergent CapitalHud ExchangeConstitution Capital PartnersApollo Investment CorporationJuna Equity PartnersMonitor Clipper PartnersBregal PartnersGreen Capital PartnersOak Hill+ 40 more

hover a name to see who they backed

Funded startups — peer cities

Columbia

274

Greenville

195

Chattanooga

128

78Asheville

47Roanoke

Companies that have raised

Company	Industry	Rounds	Latest Round	Founded
LoLo	marketing and advertising	7	2019-07	2012
BottleHound	food & beverages	1	2022-09	2017
RHA	individual & family services	0	2011-04	1989
Rhino Networks	information technology and services	0	2023-07	2013
Riverbend Malt House	food & beverages	0	2020-09	2010
RSRV Collective	beverages	1	2021-11	2020
Poppy Handcrafted Popcorn	food & beverages	0	2023-02	2016
The Climate Service	internet	5	2021-07	2014
Topple Track	internet	1	2012-01	2011
ToxStrategies	environmental services	1	2023-01	2008
Truly Home	individual & family services	0	2024-04	2021
Tupelo Honey	restaurants	1	2017-04	2001
ADORAtherapy	cosmetics	0	—	2015
Agisle	food & beverages	0	—	2020
American Chestnut	environmental services	0	2008-08	1983
Appalachian EB5	legal services	0	—	2012
Appalachian Mountain Health	hospital & health care	0	2025-05	2013
Arclet	health, wellness and fitness	0	2024-09	2023
ASAP	farming	0	2011-09	2002
Astral	sporting goods	1	2018-10	2002
Auxbus	entertainment	2	2019-09	2018
Avadim Health	consumer goods	51	2020-04	2007
Avanti	veterinary	0	—	2017
BearWaters Brewing	food & beverages	1	2018-01	2010
BioVendor	biotechnology	3	2023-01	1992

round amounts sparse for tier-3 cities — counts shown, dollar totals withheld

Company	Industry	Founded	Employees
Just Think Thai Teak	furniture	2026	—
Widening Circles	mental health care	2026	—
BeeLine Business Support	accounting	2024	—
Brewwell	food & beverages	2024	—
Drive Well Depot	automotive	2024	—
Zenithstockexchange Global	financial services	2024	—
Skytree Scientific	computer software	2024	—
Sona Health	health, wellness and fitness	2024	—
Speak English With Vanessa	e-learning	2024	—
Try Hair Candy	health, wellness and fitness	2024	—
Arclet	health, wellness and fitness	2023	—
ProMind Complex	health, wellness and fitness	2023	—
Prisma Prop Tech	real estate	2023	—
KBF Cloud	computer software	2023	—
Madian Inbox	computer software	2023	—
Modern Savage Studios	furniture	2023	—
Rescuingtheamericanchestnut	environmental services	2023	—
Tablecointeriors	design	2023	—
Altura Architects	architecture & planning	2022	—
Athlete Domains	sports	2022	—

The startup picture in Asheville

RHA

Earth Fare

Pine Gate Renewables

Tupelo Honey

IronDirect

Genova Diagnostics

BioVendor

East Fork

Zerorez

Avadim Health

French Broad Chocolates

Highland Brewing

Cloud for Good

DoctorDirectory

Poppy Handcrafted Popcorn

Topple Track

Buchi Kombucha

FLS Energy

Galaxy Digital

The Climate Service

BuildFax

Franny’s Farmacy

VirtualJobShadow

Innovative Solar Systems

Business Services

Healthcare

Real Estate And Construction

Consumer

Consumer Goods

Enterprise Applications

Financial Services

Food And Agriculture

Retail

Media & Entertainment

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