All posts in News

Top investors “All In” new Alliance of Angels seed fund

Alliance of Angels, the premier angel group which invests more than $10 million annually in Pacific Northwest startups, has closed $5.3 million in fresh capital for a new seed fund. Top regional investors including Madrona Venture Group, Trilogy Equity Partners and Voyager Capital, as well as Geoff Entress, Linden Rhoads, Michael Schutzler, Steve Singh, and more than 40 others have joined in to help build the next generation of game-changing companies here in the Pacific Northwest. The fund is capped at $10 million and is still open to investors.

According to Yi-Jian Ngo, Alliance of Angels Managing Director, “The new fund is a boon for area entrepreneurs because it will invest alongside the Alliance of Angels group, increasing the check size that entrepreneurs can expect to raise, and adding to the $10 million that the group already invests into more than 20 companies each year.”

Alliance of Angels has deep roots in the area and an impressive investment track record which has drawn the area’s premier investors to both this fund and the group. Since its inception in 1997, the group has invested $100M into 200+ companies and achieved more than 30 exits. Over the last 10 years, the group’s aggregate internal rate of return has exceeded 20%. Past investments include Clarisonic, DocuSign, Elemental Technologies, Geospiza, Julep, Insitu and SNAPin.

Super-angel Geoff Entress stated, “The Alliance of Angels fund brings together deep pockets and a wealth of early stage investor talent to catalyze the thriving Pacific Northwest entrepreneurial market. I’m excited to be a part of this fund and look forward to helping our very best founders succeed on their entrepreneurial journeys.”

Portland’s Elemental nabs $14.5M investment from Australian backer

Elemental has landed $14.5 million in series D financing. The round was led by Telstra, Australia’s largest telecom and information services company. Read the Portland Business Journal article.

Mercent acquired by CommerceHub

Mercent, a Seattle-based retail technology company that focuses on managing marketing opportunities for large-scale retailers, has been bought by CommerceHub. Read the GeekWire article.

Vidigami raises $1.25M to provide photo-sharing service for schools

Vancouver-based Vidigami has closed a seed round of $1.25 million. The round was led by current investor Andrew Wright, managing director of Wright Ventures LLC, with participation from several others, including Aaron Rallo, former president of PNI Digital Media; James Fletcher, Director of Vision Critical; and Robert Crckshank, chair of Canadian Accredited Independent Schools. Read the TechVibes article.

Blab raises $8.8M for social intelligence platform

Seattle-based social intelligence startup Blab announced that it has raised $8.8 million of an $11.6 million Series B round that will push total funding past $15 million. Read the GeekWire article.