The Cascade Angels Fund 2017 announced today that it has invested in Portland-based Wildfang, a growing apparel brand with a feminist/tomboy focus, and Salem, Ore. Rigado, a global provider of integrated wireless solutions.
Both investments are part of larger rounds for the startups. 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 Oregon Angel Fund, according to the Cascade Angels news release.
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 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 also 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,” says 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 says.
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.