November 14th, 2011
Oregon Angel Fund invests in local mobile: Meridian lands $1 million in seed funding
It’s not often you see local money investing in local tech. It’s even more rare that local money decides to bet on mobile tech.
That’s why I’m incredibly pleased to share that the Oregon Angel Fund and the Bellingham Angels Group have decided to invest $1 million in Meridian, a Portland company that helps you find your way around large venues using your mobile device.
Meridian already provides turn-by-turn directions within the Portland Art Museum, Jeld-Wen Field, and Powell’s. Not to mention their work with Cisco’s “indoor GPS” system which helps power the Meridian apps. And word around the campfire is that they’ve got some more interesting locations in the works, as well.
The funding will be used to help Meridian fulfill existing demand for its current product.
So what made OAF take the leap with Meridian?
“We live in a mobile development hotbed, so we see a lot of mobile startups’ stories cross our desks,” said Drew Bernard of Oregon Angel Fund. “What stands out with Meridian is that their team has been developing mobile apps for locations for 10 years. They’re recognized around the world for their expertise with the software and hardware real location-based services require. Meridian provides location-based businesses and venues ways to improve customer service and engagement at the most important moment possible: when the customer is right there at the location.”
Here’s hoping that this is just the beginning of local capital investing in local startups.