Cascade Angels Fund announced today that it has invested $100,000 in Bend-based start-up Odysys, Inc. (one of our #50startups).
According to the news release, the Cascade Angels team was impressed with the Odysys platform, which helps independent hotels improve their digital marketing efforts. The company launched its product this spring and is already generating revenue.
“We could not be more pleased with this investment,” says Kent Schnepp, Founder at Odysys. “Oregon-based funds are key to building strong, viable companies here.”
“Odysys has targeted an interesting and growing market,” says Julie Harrelson, CEO of Harrelson Group, which serves as the fund manager for Cascade Angels.
Cascade Angels’ 2015 Fund grew to $725,000 this year, a 58% increase over 2014’s fund. This is the 2015 Fund’s third investment, and second in a Bend technology company. Cascade Angels is a statewide fund. It’s mission is to create opportunities for investors and businesses in and with connections to Central Oregon to drive economic growth and fuel prosperity.
Schnepp says the investment will spur the company’s growth.
“We purposefully located in Bend,” he continued. “Up until recently, Central Oregon didn’t have a year-round angel fund. It’s great to have that local support. ”
You can reach Kelly by email at [email protected].