Medical device company Madorra was selected as the top winner of OEN’s Angel Oregon 2017 Investment Program, announced on Thursday, April 27 at OEN’s Angel Oregon Showcase. Madorra received an investment of over $200,000.
Madorra treats vaginal dryness without hormones for the 32 million women who are currently suffering in silence. The company offers a simple, non-invasive, easy-to-use device that empowers women suffering from vaginal dryness to improve their sexual wellness.
From 39 early-stage applications, Madorra survived four rounds of judging by our 2017 investor group. Through a series of pitches and reviews, participating companies received coaching and mentorship from the investors. Meanwhile, the investors received training in making investments.
Five concept-stage finalists also presented at OEN’s Angel Oregon 2017 Showcase, selected from 62 applicants. The first-place winner was determined by the OEN Concept Stage Selection Committee and an audience vote.
First-place winner CMDSense, which offers a smart sensor system for construction surveying. The system saves time and money, empowering everyone on and off a construction site. CMDSense won a package of goods and services worth over $15,000, including free office space and legal, accounting, forecasting, coaching, and marketing services.
During the Showcase, OEN also announced the recipients of three cash prizes awarded by the Portland Development Commission for women and minority entrepreneurs.
Concept-stage companies Tiny Tech Academy and werkhorse each won $10,000 cash. Tiny Tech Academy uses a diverse cast of American super kids to teach and inspire families to explore technology. Werkhorse is a mobile app that connects local companies with local talent to mitigate revenue loss from last-minute call-offs/no-shows. Both companies also each won a package of goods and services worth over $10,000.
In addition to its $200,000+ investment award, Madorra won a cash award of $15,000.
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.
Since 2005, 784 companies have applied to compete for OEN’s Angel Oregon Investment Award and 113 were selected to present. From 2005 to 2016, over $3 million has been directly invested through OEN’s Angel Oregon LLC Investment Award and there have been four favorable exits. Additional investment has been made outside of the LLCs, and Angel Oregon finalist companies have created more than 750 jobs.
Past winners include Collexion, Nouvola, Brandlive, Wild Friends Foods, OpenSesame, and DesignMedix.