Cascade Angels Fund Participates in $2.5M investment seed round with Lumen Learning
Investment led by Oregon Angel Fund, with participation from Portland Seed Fund, Alliance for Angels and other investors
Bend, OR Cascade Angels Fund 2015, LLC announced today a $100,000 investment in Lumen Learning, a Portland-based start-up that offers college students access to open source software for general education courses at 60+ institutions, including 6 of the 20 largest U.S. community colleges, reducing students textbook costs by over 90%.
“We are pleased to have Cascade Angels participate,” said Kim Thanos, CEO of Lumen Learning. “Access to Oregon-based capital and expertise is critical to our success in expanding our operations across North America and bringing affordable courseware to community college students.”
Founded in 2012 by Kim Thanos and David Wiley, the company is also a grantee in the Bill & Melinda Gates Foundation’s Next Generation Learning Challenge and Next Generation Courseware Challenge programs. The company has also received grant funding from the Hewlett Foundation and the Shuttleworth Foundation.
“Cascade Angels Fund 2015 is off to a great start with this first investment, building on the strength of collaboration with other pacific northwest based funds, said Julie Harrelson, CEO, Harrelson Group. “Cascade Angels closed with $725K and we are looking forward to reviewing additional Oregon based companies and putting these funds to work.”
The Fund currently has an application period open for launch stage companies.
Cascade Angels Fund is sponsored by Bank of the Cascades, Jones & Roth, Karnopp Petersen LLP, and Harrelson Group.
*Membership in the Cascade Angels Fund 2015 is by referral and invitation only. Angel and venture investments involve a high degree of risk. Participation in the Cascade Angels Fund 2015 is limited to "accredited investors," as defined by the general rules and regulations of the Securities Act of 1933 of the Securities and Exchange Commission AND to investors who have such knowledge and experience in financial and business matters that they are capable of evaluating the merits and risks of prospective investments.
This release is not an offer to sell or solicit investment in the Cascade Angels Fund 2015, its portfolio companies, or applying companies. The Cascade Angels Fund 2015 does not operate as a broker-dealer or investment adviser and is not registered as such with any federal or state securities regulator.