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angel investJACKSONVILLE, Ore. – Angel investors selected a Portland-based software developer as the winner of the 2014 Southern Oregon Angel Investment at its conference Wednesday.
Nouvola develops systems to analyze large internet programs. The company was awarded a $215,000 investment. The company said it plans to use the investment to grow the company and develop new technology.
“It’s just amazing, I didn’t expect this,” said owner Paola Moretto. “To see the trust and the confidence of the investors in us was just incredible.”
Nouvola was competing against four other startups at the conference: Fire Cirkl Brewing from Sams Valley, InStove from Cottage Grove, Homeschool Snowboarding Apparel from Portland, and Rogue Rovers from Ashland.
“They were prepared, they knew what they wanted to do, they knew how to present themselves extremely well,” said Gene Miller, with the Southern Oregon Angel Investment Network.
This is the second year in a row that the Angels have invested in a company from outside southern Oregon. In 2013, Bend-based Jettstream took home the grand prize investment. Previous winners of the top investment include Ashland-based companies Folium Partners in 2011 and Montrue Technologies in 2012.
Organizers had previously expressed disappointment in the lower number of local companies competing this year, and said part of the goal was to help grow local business. But more companies could be coming to the region. Rogue Rovers was originally based out of Hood River, but recently moved to southern Oregon to be closer to partners at Southern Oregon University and the Oregon Institute of Technology.