There’s been a lot of fundraising happening in Bend lately. And now we have a new addition to the investor pool. Texagon Capital, a private equity firm based in Bend and Houston, recently made its first investment in an Oregon-based company by funding LeadMethod, one of our #50startups.
The Bend-based startup provides channel sales management software to companies that sell through independent sales representatives and distributors. The founders of Texagon, headed by Managing Principal Brad Goebel, have previously invested primarily in energy companies that provide equipment or services to the oil and gas industry.
But according to the news release, Texagon, which was founded earlier this year, was formed with a different purpose in mind. Goebel, who now lives part-time in Bend, was interested in diversifying the company’s portfolio and exploring local tech opportunities.
More from the release:
Because of his depth of experience in working with manufacturers with global sales organizations, Goebel immediately understood the solution that Lead Method provides to companies selling through third-party distributors and value-added resellers (VARs). Such companies often have little visibility into what happens with their sales leads and the potential opportunities that are in their pipelines.
“When I was in the energy business, this was an ongoing significant problem.” Goebel says. “I saw right away that LeadMethod had developed an easy-to-use product that gives marketing and sales departments actionable information about their third-party sales teams –and most importantly helps boost revenue.”
Texagon made its investment in LeadMethod as part of the company’s seed round. The firm doesn’t report specific investment amounts. LeadMethod already has several clients using its software. The startup continues to fundraise, with the aim of using the money to build out its product and grow its team.
“We are genuinely excited to be working with Texagon,” says LeadMethod CEO Justin Johnson. “Texagon’s investment will help us to continue to improve our product and grow the business.” LeadMethod has also recently raised capital from Cascade Angels and the Portland Seed Fund.