Cascade Angels announced today that the fund has invested $100,000 in Bend-based startup LeadMethod (also one of our #50startups). LeadMethod provides channel sales management software to companies that sell through independent sales reps and distributors.
From the release:
The Cascade Angels investment team was impressed with the LeadMethod team and the company’s product, which has already garnered more than a dozen loyal enterprise clients.
“LeadMethod has targeted an underserved market with a powerful solution that is quickly gaining traction,” says Julie Harrelson, CEO of Harrelson Group, which serves as the Fund Manager for Cascade Angels. “We’re excited about this recent investment, and it’s great to have local capital available to invest in these opportunities.”
The Cascade Angels 2015 Fund grew to $725,000 this year, a 58% increase over 2014’s fund. The mission of the Cascade Angels Fund is to create opportunities for investors and businesses in and with connections to Central Oregon to drive economic growth and fuel prosperity across the state.
LeadMethod CEO Justin Johnson moved his startup to Bend from the Puget Sound area.
“It’s great to have the support of local investors as we embark on a period of rapid growth,” Johnson says. “The Cascade Angels Fund investment certainly helps accelerate our efforts and fuel hires right here in Bend.”
Garret Wales, co-founder of 10 Barrel Brewing Company, is a Cascade Angels investor. He also noted such funds are vital to the region’s economy.
“Early financial investment for aspiring entrepreneurs is critical to job creation in Oregon. I’m stoked to be part of this effort,” he says.
This is the second investment for Cascade Angels 2015 Fund, which invested in Portland-based Lumen Learning earlier this year. The 2014 fund’s investments included Bend-based Droplr, Manzama and Amplion and Poached Jobs out of Portland.
You can reach Kelly by email at [email protected].