Category: VC

OEN announces the winner of Angel Oregon (and it’s not a tech company)

I just received the official announcement from Oregon Entrepreneurs Network (OEN) naming the winner of the Angel Oregon competition. [Update: Who won the elevator pitch competition? Steve Morris has your answer over on Oregon Startups.]

And unfortunately, for me, the winner is an apparel company. (Upside? They have a blog.)

Well, that doesn’t really fit the Web startup flavor of Silicon Florist, so I’m going to cover the runners-up, instead. Because, honestly, these two finalists have the most potential of becoming regulars here on the Silicon Florist:

  • OsoEco, the first online community that allows consumers to shop and research green products and services with friends, interests groups and consumers
  • Revelation, a software company that optimizes qualitative market research, enabling companies to develop and harness rich understanding of customer experiences, behaviors and needs at a fraction of the time and cost of traditional research techniques

OsoEco and Revelation each received $57,500 investment awards for winning the Sustainability Investment and Technology/Biotech tracks, respectively.

“The entrepreneurs participation in the investor presentation coaching and exhaustive due diligence process really helped them to articulate their business plan and demonstrate the potential return for investors,” said, Bob Ward, Angel Oregon chair. “Angel Oregon is attracting really high caliber companies. Couple that with value of the exposure and the experience that competing companies get, and the value proposition of the event is pretty compelling for Oregon’s economy.”

For more information on the Angel Oregon program, visit OEN.

iovation lands $10 million from Intel Capital

iovation, a Portland-based startup that focuses on combating online fraud—and which also allows you to begin sentences with a lower-case letter—has announced a new round of funding, led by a $10 million investment from Intel Capital. The total round sits at $15 million.

iovation, headquartered in Portland, Oregon pioneered the use of device reputation for managing online fraud, abusive behavior and multi-factor authentication. Today, iovation manages the reputation of millions of Internet-enabled devices worldwide, allowing its customers to control online fraud and abuse while benefiting from sharing device reputation intelligence. For more information on iovation and the company’s products, visit www.iovation.com.

(Hat tip Silicon Forest)

Jive Talks (finally) talks about $15 million round

Last week, I saw the news on Jive Software securing a $15 million round of funding from venture firm Sequoia Capital.

Being the diligent type that I am, I immediately jumped over to the Jive site to get the full story.

Only there wasn’t anything there.

No press release. No blog post. Nothing. Crickets chirping.

But I’ve diligently checked the site, time and time again, since that point, and I am now happy to report that Jive is now talking about the round in a post from the CEO, Dave Hersh, on Jive Talks.

Hersh addresses questions that plague any startup making this sort of control-wresting decision:

  • Why did we raise the money?
  • Why did Sequoia choose Jive to win the space?
  • Why Sequoia?
  • What will change?
  • Was it a hard choice?

For more, read Dave Hersh’s post on Jive Talks, “More on our $15M Funding Round with Sequoia.”

[Update] Mike Rogoway of The Oregonian provides additional coverage—and a little link love for Silicon Florist (Thanks, Mike!)—on the Silicon Forest blog.

Jive Software secures $15 million… and moves blog to Clearspace

Big news coming out of Jive Software today. The company announced that it has secured a $15 million round of funding led by Sequoia Capital.

From VentureBeat

One with considerable momentum is Jive Software, a Portland, Ore. Its product, Clearspace, doesn’t tack various software programs together. It offers it all from ground-up: It lets employees and customers collaborate on a mix of blogs, wikis, forums, chat, tagging, files and reputation systems into a single interface behind the corporate firewall (or outside it, if customers are involved, in which case it governs a publishing system that controls what gets outside the firewall). The company was bootstrapped for years, but in February, hit a vein, says chief executive Dave Hersh — demand for its product became overwhelming.

Jive will do more than $15 million in sales this year, with the second quarter revenue almost double what it was the same quarter of last year. It has more than 2,000 customers, says Hersh, mentioning names like IBM, Sun and BEA. So it has taken $15 million from Silicon Valley venture firm Sequoia Capital, to handle the growth.

Mike Rogoway of The Oregonian also covered this round:

Jive said it plans to use the money to continue developing its software and to market its products. Jive is the latest company to benefit from a surge in venture capital backing Oregon businesses. Venture capitalists invested $173 million in Oregon companies during the first six months of the year, up from $76 million in the first half last year.

Mashable covered the funding, as well.

Still no post on the Jive blog or in the Jive newsroom, so I’ll provide other details as they become available.

[UPDATE] As of Monday morning, still nothing from the horse’s mouth, but Om Malik is reporting that the funding will be used to “push sales and marketing of its Clearspace line-up of products,” while Portland station KGW has pulled an AP story that states, “The company said it will be scaling up operations, development and setting up international offices as a result of the investment.”

In related news, when I headed over to the Jive blog to see if they had posted anything, I was happy to see that they had ported their blog to their own Clearspace product. “Eating their own dogfood” as it were.

Although, Clearspace appears to be mighty tasty dogfood.

VC Thunderdome: Seed Oregon

You’ve got good ideas. You’ve got elegant code. And you’ve got the next killer app. But what you could really use is some capital to make a real go of it.

That’s where funding comes into play. Oregon Entrepreneur Network understands.

So rather than make you come right out and beg, they have their own little Thunderdome for funding called Seed Oregon:

Nine presenting companies will be selected to compete in the Seed Oregon tournament. Each will have 10 minutes to present their concept to the PubTalk audience, followed by a 10 minute Q&A session. Three companies will compete at each of the the preliminary rounds, with the audience voting for the winning presentations to move to the championship round. The Angel Oregon Selection Committee will serve as judges for the championship round.

The competition is restricted to companies in the Portland metropolitan area who are currently seeking a seed round that is less than $2 million.

If you match those requirements and you’re interested in a little “two man enter one man leave,” consider sending in an application. The first round entry deadline is August 31, 2007.

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