April 16, 2014, Portland, Ore. — The Oregon Entrepreneurs Network (OEN) has concluded OEN’s Angel Oregon Spring 2014 Investment Program and selected Nouvola as the winning company.
Nouvola offers a scalable performance testing suite to help companies deploy their applications to the cloud scale successfully.
“This is Nouvola’s second first-place win in Oregon angel competitions, and represents a tremendous validation for our company,” says CEO and Co-Founder Paola Moretto says. The company also clinched first place in the 2013 Bend Venture Conference. Between the two Angel Oregon events, it has raised over half a million dollars.
“Investors have made it clear once again that they believe we have the right solution based on unique technology, solid market opportunity, and a stellar team to advance the company,” says Moretto. “During our early deployments, we are working closely with a growing customer base to continue to enhance the solution around their needs, and we’re excited about the market potential we see.”
OEN’s Angel Oregon has been a key element in the funding and development of seed stage companies in Oregon since 2005 when the first investment award was presented.
“The Angel Oregon Spring 2014 Investor Program attracted a record number of 57 applicants,” says Lauren Wallace, OEN’s Angel Oregon Spring 2014 Investment Program Chair. “Through a series of pitches and reviews, the companies received coaching and mentorship from the investors. Meanwhile, the investors received training in making investments.”
Says Jim Bednark, a first-time investor participant in Angel Oregon, “I found it an excellent way to network with companies seeking capital and other investors. The process was efficient, but yet allowed for in-depth due diligence and the opportunity to get to know the management teams competing for the ultimate funding award.”
Bednark says that while he’s “pleased Nouvola was the winner, through the process our fund has made good connections with other presenting companies and we are continuing discussions about other possible investments. In addition, the forum allowed for great networking with a diverse group of other investors and supporters of the Oregon entrepreneurial community.”
Video produced by Spykermedia.
About OEN’s Angel Oregon Program
OEN’s Angel Oregon is the state’s premier angel conference, attracting the state’s brightest doers, innovators, and big thinkers to present their ideas. Since 2005, 551 companies have applied to compete at Angel Oregon, and 89 were selected to present. From 2005 until 2012, $2.3 million has been directly invested through OEN’s Angel Oregon LLC investment award and there have been three favorable exits. Additional investment has been made outside of the LLCs, and more than 740 jobs have been created.
Oregon Entrepreneurs Network
OnPR for Oregon Entrepreneurs Network