(Photo courtesy of Wildfang)
What Do The Internet Of Things And Apparel Have In Common?
Cascade Angels Fund 2017, LLC has made investments in two Oregon companies – Salem-based Rigado Inc., a global provider of integrated wireless solutions, and Portland-based Wildfang, a growing apparel brand.
For Rigado, the investment will be used to expand Rigado’s line of connectivity products for the Internet of Things (IoT), expand its global footprint into Europe and Asia, and meet the accelerating market demand for chip-to-cloud connectivity solutions, as part of the $3.3M investment led by Oregon Angel Fund (OAF). Wildfang will expand its apparel line and retail footprint to Los Angeles and New York, as part of the $2.35M investment also led by OAF.
“Cascade Angels funds have cumulatively invested over $2M in 15 companies,” said Julie Harrelson, CEO of Harrelson Group, Inc., Fund Manager for Cascade Angels. “You might ask, what do an IoT company and an apparel company have in common? Well, Rigado and Wildfang are both leading edge efforts in their respective industries and we welcome these types of companies and their teams to our diverse portfolio. The fund also collaborates with other funds across the state to invest and support regional companies.”
Founded in 2010, Rigado has grown to serve over 250 customers, with product revenues more than tripling since 2015. Rigado is also fueling innovation and recently introduced its Rigado IoT Gateway and two new wireless modules for commercial, industrial and consumer IoT applications. “We are excited to have Cascade Angels on board as a strategic partner as we continue to expand our IoT connectivity product line and accelerate global expansion,” said Greg Rau, Chief Financial Officer of Rigado.
Launched in 2013, Wildfang was founded by Nike breakaways Emma McIlroy and Julia Parsley. The company “seeks to build a home for badass women everywhere, while delivering menswear-inspired styling and irreverent content,” said Emma McIlroy, CEO of Wildfang. “This funding will help bring the Wildfang brand to millions more people across the USA. We are truly delighted to contribute to the active and thriving startup scene here in Oregon and thrilled to have such strong support from local investors, like Cascade Angels,” she continued.
Cascade Angels Fund is now in its fourth year. The Fund’s mission is to create regional opportunities for investors and businesses to drive economic growth and fuel prosperity. The Fund is managed by Julie Harrelson, an entrepreneur, investor and leader in Oregon’s startup community. She was recently named “Woman of the Year” by the Bend Chamber. Cascade Angels Fund is sponsored by Jones & Roth, Karnopp Petersen LLP, US Bank, and Harrelson Group, Inc.
*Membership in the Cascade Angels Fund 2017 is by referral and invitation only. Angel and venture investments involve a high degree of risk. Participation in the Cascade Angels Fund 2017 is limited to “accredited investors,” as defined by the general rules and regulations of the Securities Act of 1933 of the Securities and Exchange Commission AND to investors who have such knowledge and experience in financial and business matters that they are capable of evaluating the merits and risks of prospective investments.
This release is not an offer to sell or solicit investment in the Cascade Angels Fund 2017, its portfolio companies, or applying companies. The Cascade Angels Fund 2017 does not operate as a broker-dealer or investment adviser and is not registered as such with any federal or state securities regulator.
Cascade Angels Fund
Founded in 2013, Cascade Angels is a professionally managed, investor driven venture fund that creates opportunities for investors and businesses with connections to Central Oregon to drive economic growth and fuel prosperity. The Fund’s investors include prominent business leaders, exited entrepreneurs and institutional investors who are committed to contributing to a sustainable economy and building Oregon’s entrepreneurial ecosystem. Since 2014, Cascade Angels Fund has invested nearly $2M in 15 early stage companies that cumulatively employ over 150 people. For more information, visit www.CascadeAngels.com, Gust.com or www.twitter.com/CascadeAngels.
Rigado
Rigado’s award-winning integrated wireless solutions help companies quickly develop and scale their connected products and services. Rigado offers certified wireless modules and configurable gateways that reduce cost and time to market, and its DeviceOps tools enable secure device updating at scale. More than 250 global customers rely on Rigado to power their consumer, commercial and industrial IoT solutions. For more information, visit www.rigado.com.
Wildfang
Wildfang was founded by Nike breakaways Emma McIlroy and Julia Parsley, and seeks to build a home for badass women everywhere, while delivering menswear-inspired styling and irreverent content. Wildfang.com launched in March 2013, with 20k+ girls joining the family in just 30 days. Previously featured in The Guardian, New York Times, Vice, Cool Hunting, Refinery 29 and Vogue, the Wildfang family has, and continues to, grow fast. Wildfang operates a global e-commerce business at Wildfang.com and two physical stores in Portland, Ore. Visit: http://www.wildfang.com/ or @wearewildfang for more info.
