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Oregon Entrepreneurs Network Winner Completes Angel conference 'Triple Crown'
Author: Malia Spencer Staff Reporter- Portland Business Journal May 1, 2014
Posted: May 14, 2014

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Portland startup Nouvola continued its dominance of the local angel conference scene this week with a win at the Southern Oregon Angel Conference.

The company landed an additional $215,000 investment during the Jacksonville event.

On April 16, the company won the Oregon Entrepreneurs Network’s Angel Oregon competition and collected a $256,000 investment. In late 2013, it won the $250,000 investment at the Bend Angel Conference.

All of the money is part of the seed round the company is raising.

Nouvola’s software clients who are working in the cloud test their own software to ensure it can handle peak demand. It also tests to make sure that software updates don’t interfere with existing users.

Soon after winning OEN’s Angel Oregon, CEO Paola Moretto said the wins were validating the company’s market opportunity and technology.

As for the help offered by the angel investors in the state, she had this to say: “The angel community in the state of Oregon is really making a difference in enabling companies like us to get the first round of financing which is extremely critical for this stage,” she said in April.

It’s these early rounds that allow companies to gain traction and become more attractive to larger investors down the line.

Nouvola has 10 employees and Moretto expects to use the seed round to fund product development and sales and marketing.

The company doesn’t disclose pricing or customer details but it is working with dozens of early customers. These customers are mid-market enterprises with between $1 million and $1 billion in revenue, she said.