Sacramento Angels Invest in Bicycle Lighting Innovator Revolights

Revolights_LogoRevolights, makers of next-generation bike lights, raised $1 million of Series A funding in a round led by Sierra Angels with the Sacramento Angels as co-lead. Other investors included The Herjavec Group (as a result of a Shark Tank presentation), San Joaquin Angels, Berkeley Angel Network, and two funds, Augment Ventures, and Northern California Investment Fund LLC.

The company’s first product is the patented and award winning Revolights bike lighting system. It consists of “smart” rings of LEDs which attach to a bike’s wheels and synchronize to the bike’s speed to provide: forward path illumination, an actual brake light (it blinks when you decelerate), and a huge increase in bright 360-degree visibility. That is a key bike safety differentiator. The addressable market in the USA and EU is estimated to be ~$1,500M+

Marrone Bio Innovations — An IPO for a Portfolio Company

Marrone Bioinnovations -- make natural, effective, safe, environmentally friendly products the mainstream future of pest managementToday Marrone Bio Innovations (Symbol: MBII) of Davis had their initial public offering on the NASDAQ stock exchange. It was priced at $12/share and ended the day at $13.75.

SacAngel members first invested in the company in 2006 as part of MBI’s first round of funding (Series A). It is estimated from the company S-1/A filing with the SEC that those investors had a return in the range of 6.4x based on the closing price today (i.e., for every dollar invested, their return today, if they sold their stock, would be $6.4). Similarly, those that invested in subsequent Series B (2008) and Series C (2010-11)  financing rounds got returns of 3.9x and 3.6x, respectively.

SacAngels Invest in Eco-Friendly Utensil Company, EcoTensil

EcoTensil_logoThe group invested in EcoTensil earlier this year along numerous other angel groups in a syndicated deal for $850K. There are a number of press releases on the web like this one, and below is a press release we received from the company.


EcoTensil, Inc., maker of the most eco-friendly paperboard utensils available, announced that it has over-subscribed and closed its Series A round of financing, having raised in excess of $850,000.  The successful capital raise complements some other important business milestones, such as the shipment of the company’s first SpoonLidz on-package product, and the move into a new, larger office.

Glue Networks On Hockey Stick Growth Curve

Glue Networks -- Intelligent Cloud NetworkingSacramento TV Station News 10 ran a piece on our portfolio company, Glue Networks, this evening. The original link is here but we have embedded the video below.

Portfolio Company Aperia Technologies Emerges at the Wall Street Journal ECO:nomics conference

SacAngels members invested in Aperia Technologies as part of a deal led by the Sierra Angels with significant participation from the Band of Angels. According to the SEC Form D, the total raise was almost $700K.

Aperia have kept a pretty low profile since their funding while the product was developed and market development was initiated. Recently, more information about the company has emerged as the company CEO, Josh Carter, was invited to speak at the Wall Street Journal ECO:nomics conference in Santa Barbara (take a look at the program; it has some pretty impressive speakers).

Portfolio Company Glue Networks to unveil Cisco Virtual Office-as-a-Service

Today we saw this press release about our Portfolio company, Glue Networks, new product, Cisco Virtual Office-as-a-Service (CVOaaS). They are showcasing  the product at Geek Day in Washington,US.

The new release automatically builds, maintains, monitors, and manages next-gen networks anywhere in the world, and delivers voice, video and real-time data applications for remote offices and employees with plug-and-play simplicity, error-free set up, military-grade security, and full network lifecycle management for a low monthly fee.

Portfolio Companies Welldog and Cloudcruiser in the News

We invested Welldog about a year ago and they are now growing rapidly. See this recent press release about a A$4MM (about the same in US$) order for their services in Australia. Welldog provide data service to the coal mining and coalbed methane discovery industry.

We also invested in Cloud Cruiser almost two years ago and they continue to gain significant recognition in the Cloud computing space — they provide cloud cost intelligence solutions. They were recently selected “As One of 20 Coolest Cloud Software Vendors”. They join the likes of industry heavyweights Google, Oracle, Microsoft, Salesforce, Intuit, and SAP in that top 20 list. See the press release.

Portfolio Company WellDog Closed $5,000,000 to Support Expansion

International mix of angel and strategic investors provide debt and equity capital

Below is the press release from Welldog mentioning our recent investment. There is also a short note in the Sacramento Bee.

Funky scientist WelldogLaramie, Wyoming (8 June 2011) – WellDog announced today that it has closed on $5,000,000 in new debt and equity financing to support its continued expansion.  The round was led by Simon Ashton and his strategic investment company, ProX Pty Ltd, and included participation by members of Sacramento Angels, Houston Angels, and some of the successful entrepreneurs behind Pure Energy, as well as expanded investment from the Brisbane Angels.

Sacramento Angel Investors Put Capital Into WellDog To Accelerate Coalbed Exploration in Asia

WellDog is a privatelCoalbed methane explorationy held company focused on using innovative technologies to improve exploration and production of oil, gas and alternative energy resources. They are headquartered in Laramie, Wyoming, with a subsidiary in Brisbane, Australia.

Emerging Asian economies need energy and Asian energy exporters are struggling to meet demand. Coal based resources, including gas, are contributing but they need new technologies to meet demand responsibly and quickly, exactly the niche WellDog has found with its exploration services.

Coalbed methane exploration

Welldog Raman Tool Going Downhole

Group Invests in Vokle, A Tech Coast Angels Led Investment

The  Sacramento Angels participated in the funding of Santa Monica based Vokle together with the Sierra Angels. The Tech Coast Angels of Southern California led the deal which closed this month.

A web based, social media, live video talk show platformVokle provides a web based, social media, live video talk show platform that enables anyone to build their audience via real time Q&A features. It has been used by the like of Huffington Press, Washington Post, Tony Robbins, and TimeWarnerCable.