The Central Oregon based fund closed with $460,000 in its inaugural year.
Droplr will receive $100,000 in investment capital from Cascade Angels Fund 2014, LLC, a year-round fund that evolved out of EDCO’s Bend Venture Conference and through the efforts of the Venture Catalyst program. Cascade Angels Fund 2014, LLC and a syndicated group of investors, including Portland Seed Fund, Seven Peaks Ventures and others, combined to invest a total of $260,000 in Droplr this closing.
“Selecting Droplr for our inaugural investment is important. It’s a growing Central Oregon-based company with great potential,” said Fund Manager Julie Harrelson. “We are proud to be a key investor in this closing and collaborate with several statewide funds and investors to fuel prosperity in Oregon.”
An Oregon-based software startup, Droplr empowers creative teamwork through fast, simple visual collaboration. The company was founded by Josh Bryant and Levi Nunnink, a designer and developer team who were both frustrated with the lack of a simple, easy way to share files and collaborate with each other on projects. Thousands of users from the world’s best companies and most trusted brands rely on Droplr to power their day-to-day workflow – in their browsers, desktops, and mobile devices.
“Since our founding, we have grown to a fantastic group of individuals who are passionate about building tech products that delight our customers,” said Droplr CFO Ryan Andrews. “It’s great to be partnered with so many quality investors from across the state, including being chosen as the first investment for Cascade Angels. We are ready to make this a success for Oregon.”
Cascade Angels Fund 2014, LLC recently closed its initial investment round with $460,000. The fund anticipates investing in 1-4 companies in 2014 and is committed to helping build Oregon’s entrepreneurial ecosystem.
Cascade Angels Fund 2014, LLC is sponsored by Bank of the Cascades, Jones & Roth, Karnopp Petersen LLP and RelianceCM.
* Membership in Cascade Angels Fund 2014, LLC is by referral and invitation only. Angel and venture investments involve a high degree of risk. Participation in Cascade Angels Fund 2014, LLC 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.
