Portland startups, open source, and tech news, jobs, and events #pdx
There’s a generation of Portland startups that I refer to as the “quiet generation.” Not a lot of pomp and circumstance. Not a lot of public appearances. Just a bunch of amazing founders and companies who have quietly been building compelling businesses in our midst. One of those was Sensu, which had attracted capital from name brand VCs like Foundry Group and Battery Ventures. And now, they’ve also gotten those investors an exit.
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It’s funny because it’s true. If you’re thinking about pursuing an investment from venture capitalists for your startup then this should probably be required watching. From Foundry Group‘s Chris Moody. (Because apparently this pandemic has inspired him to become a YouTuber 😂)
I’m lucky that I get the opportunity to sit at the nexus of passionate founders building early stage companies and the community of mentors who wants to support and bolster those founders as they strive to build the next great Portland company. While we all recognize that building a startup is ridiculously difficult, sometimes we forget that founders are suffering from any number of stressors and pressures, despite the stiff upper lip they project.
Yes. $200 million. For a Portland startup. It’s really really easy to blanche at that number. I get it. It’s a big number. Especially for a homegrown Portland company in the software world. And were this earlier in the life of Silicon Florist, I could have easily focused on the number, cheered for a company raising that much, and moved along my merry little way.
We all know the myths. Scrappy founders creating something out of thin air, raising millions of dollars, becoming an overnight success, and exiting with wealth beyond their wildest dreams. And if you’re happy with those myths, then you can stop reading, right here. But if you’d like to hear the not-so-pretty-and-often-unhappy truth about being the founder of a venture funded startup, then you’re going to want to join Rand Fishkin when he swings by Portland to talk about his new book.
In the world of equity financing and startups, it’s not rare to see folks adding new board members when they announce funding rounds. Because it’s usually VCs who have invested who are getting those seats. So when Portland startup Sensu announced a new round of funding and new board members, it was a pleasant surprise to see that one of them was an independent, Luke Kanies, founder of Puppet.
What began with Google Glass has ended in a successful exit for ONtheGO Platforms—and the local investors who took a risk on the company before it was clear where the market was going. Atheer has acquired OTG for its team and technology, who were early players in exploring the potential of gestures within virtual and physical environments. Read More
It was nearly a $20 million day for investments in Portland startups. Earlier in the day, Lytics announced a $7 million Series A led by Comcast Ventures. And soon thereafter, Urban Airship announced that they had closed a $12 million Series D, with participation by existing investors True Ventures, Foundry Group, and August Capital. Read More
Portland Seed Fund alum and current Startup PDX Challenge resident OnTheGo Platforms certainly knows how to start the new year off on the right foot. The company just announced a $700,000 seed round, led by FG Angels. Local investor Rogue Venture Partners also participated. Read More
Portland has seen an upswing of funding for startups in recent months. And it’s showing no signs of slowing. The latest announcement? Push-notification juggernaut Urban Airship has secured an additional $25 million in funding—led by August Capital—bringing UA’s total funding up to $46.6 million. Read More