Portland startups, open source, and tech news, jobs, and events #pdx
While the most beneficial paths to liquidity for investors and founders can be the subject of debate, getting a company to the point of a private equity investment has become one of the more common modes of achieving that liquidity, around these parts. Today, another one joined the ranks. OpenSesame announced that they had attracted a $50 million private equity investment from JMI Equity and others.
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When I caught the news about Orchestra Software’s equity round, I was immediately reminded of Jama Software. Both companies were bootstrapped early on. They both took on investment after a number of years in business. And the amount of the funding was roughly the same amount.
One of the challenges of the Portland startup community has always been momentum. We sometimes have great—at times even fantastic—startup news, like an exit or a major announcement. But more often than not, that happens as a solitary instance. And then it’s some time before the next major announcement. So it’s rare to have a day like today where both Torch 3D and Vacasa have major news.