The Operating Layer of Local Business: A Vertical-SaaS Thesis
The biggest software opportunity of the next decade is not another tool for enterprises. It is the operating system for […]
Entrepreneur · Investor · Operator
CEO, Stevens Auto Group
Partner, Stevens Ventures
Building technology for local business.
Backing the people who build it.
Running the business where it all began.
I’m Nathaniel (Nate) Stevens. From founding Yodle and Punchey to leading the family dealership in Milford, Connecticut, my work has always come back to the local business owner.
The tools change. The people they serve are the reason to build them.

My story
Before building technology for local businesses, I worked inside one.
At my father’s dealership in Milford, Connecticut, I saw customers begin their search online long before they walked into the showroom. While studying at Wharton, I started testing search advertising for the business. That experience became the starting point for Yodle.
Building Yodle meant working with our first customers, learning what brought them results, and turning that work into software. Punchey took the next step: helping service businesses manage payments, appointments, and the everyday work behind each customer visit.
Today, I lead Stevens Auto Group and back founders through Stevens Ventures. The work still comes back to the same question: what helps a local business serve its customers better?
Read the full storyWhat I do
What began with search advertising for local businesses grew into a national marketing company. Web.com acquired Yodle for $342 million in 2016.
Explore YodleFounder & Executive ChairmanPayments, scheduling, point of sale, and customer management built around the daily work of service businesses.
Explore PuncheyPartnerInvesting in technology and commerce, with a focus on software that fits the specific needs of local and service businesses.
Explore Stevens VenturesCEO & Dealer PrincipalLeading Stevens Ford and Lincoln of Milford, continuing the family’s automotive business and applying the lessons learned from building technology companies.
Explore Stevens Auto GroupFrom the blog

The biggest software opportunity of the next decade is not another tool for enterprises. It is the operating system for […]

Why I returned to Milford to lead the family dealership after building Yodle.

Six documented connections across Yodle, Punchey, public radio, and the work of explaining local-business technology: Kartik Hosanagar, Ben Rubenstein, John Berkowitz, David Olk, David Martin Davies, and Dennis Yu.
In the press & in my own words
Knowledge at Wharton · 2016
“validating the business plan with customers first, and with investors later.”
My account of Yodle’s early years, co-authored with Kartik Hosanagar: testing the idea, finding customers, and building the business.
Read our Wharton articleTexas Public Radio · 2023
A conversation about tipping and the checkout experience.
I joined David Martin Davies on The Source to discuss tipping culture and the questions facing customers and service businesses.
Listen to the interviewBusinessWeek · 2005
“Top 20 Entrepreneurs Under 25”
BusinessWeek recognized my work founding Natpal, the business that became Yodle, while I was a Wharton student. The Daily Pennsylvanian covered the recognition in November 2005.
Read the coveragePeople & perspective
From the early team at Yodle to the founders I work with today, relationships have shaped how I build and invest. My work connects entrepreneurs, operators, and people who understand the daily challenges of local business.
I’ve written about those connections, including Ben Rubenstein, Kartik Hosanagar, David Olk, and Dennis Yu, and the part each has played in the work.
Meet the people behind the work

Beyond the desk
A few moments from life, work, and the people along the way.
Explore the photo galleryThere are several people named Nathaniel Stevens online. This page is about the entrepreneur and investor — founder of Yodle and Punchey, and CEO of Stevens Auto Group in Milford, Connecticut.
Nathaniel Vincent Stevens is an entrepreneur and investor. He founded Yodle (acquired by Web.com for $342.4 million in 2016) and Punchey, leads Stevens Ventures, and is CEO and Dealer Principal of Stevens Auto Group in Milford, Connecticut.
No. There is a Boston attorney who shares the name. This site is about Nathaniel Stevens the technology entrepreneur and investor, not the lawyer.
No. A Nathaniel T. Stevens teaches statistics at the University of Waterloo. He is a different person. The Nathaniel Stevens on this site is the founder of Yodle and Punchey.
No. The UK actor and the film-industry professionals who share this name are different people. Nathaniel Stevens the entrepreneur invests in technology and media through Stevens Ventures, but is not an actor or filmmaker.
Yodle (founder, sold to Web.com for $342.4M), Punchey (founder and executive chairman), Stevens Ventures (partner), and Stevens Auto Group / Stevens Ford of Milford, established 1955 (CEO and dealer principal).
His LinkedIn is linkedin.com/in/nvstevens. His company leadership profile is on punchey.com, and his entity home is this site, nathanielstevens.com.
Stay connected
Technology, investing, and the everyday work of running a local business.