Charlotte Angel Fund Invests in InHerSight

Robust User Community and Increasing Societal Focus on Women’s Workplace Issues Drive Funding

Charlotte, NC – Early stage investment group Charlotte Angel Fund announced today a $100,000 investment in InHerSight., a company focused on bringing transparency to the working world for women.  This investment was a part of the Company’s $750,000 equity funding round. This is the Fund’s tenth investment since formation in December 2013. 

InHerSight, based in Durham, NC, has created a company ratings and jobs platform for women.  Among the factors making this an attractive investment were the more than 37,000 rated companies and the increasing awareness and importance of women’s workplace issues.

In addition to funding from Charlotte Angel Fund, participants in the InHerSight funding round included The Motley Fool and Hunt Technology Ventures, L.P. 

A significant factor in the Fund’s investment selection was the strong InHerSight co-founding team of Ursula Mead, Daniel Stapleton, and Adam Hill, who were in leadership roles at The Motley Fool prior to founding InHerSight. Their experience and expertise in user community development gained at The Motley Fool is a significant asset to the Company.

“InHerSight has done a terrific job of building a community that is exchanging of information about the items which matter most to women in the workplace,” stated Greg Brown, Charlotte Angel Fund’s Administrator.   “Insights gained from this will be extremely valuable to employers as they seek to ensure that they are attracting and retaining top female talent.  We are pleased to have participated in this financing, and look forward to the continued development of the company and this exciting platform.”

Charlotte Angel Fund Selects Ecomdash As Its First Charlotte Investment

CHARLOTTE, Jan. 03, 2017 (GLOBE NEWSWIRE) -- Ecomdash, an ecommerce automation software, has been selected to receive investment capital from the Charlotte Angel Fund. The selection marks the first Charlotte-based investment by the capital group.

"We are very excited to have had the opportunity to add Ecomdash as our ninth portfolio investment,” said Greg Brown, Administrator of the Charlotte Angel Fund. “Their dramatic growth over the two years that we have followed the company are a tribute to the entire Ecomdash team. Importantly, this is our first investment in a Charlotte-based company.”

Ecomdash CEO Nick Maglosky presented Ecomdash to the Charlotte Angel Fund. The process included a formal pitch, due diligence, and a final vote by the members of the fund. Ecomdash will receive $125,000, which is part of a larger round of financing. Funds will go toward a few key strategic initiatives as well as sales and marketing efforts.

“We’re very excited to have Charlotte Angel Fund as part of our investor team,” said Maglosky. “We are particularly proud to call Charlotte our home, so this investment is about more than just Ecomdash. It’s about fueling the continued growth of the Charlotte startup ecosystem.”

The Charlotte Angel Fund cited Ecomdash’s sustained growth as a major driver in its decision.

“Ecomdash is a sterling example of the development of Charlotte's entrepreneurial community,” said Brown. “That growth will certainly lead to further investments by our group in local startups.”

About Charlotte Angel Fund

Charlotte Angel Fund was formed to invest in high growth, early stage startups in the Charlotte region and across the Carolinas. It is a committed capital group, meaning the 60+ members of the Fund have pooled capital for investment in these opportunities. Monthly meetings are held where new opportunities are presented to all members. The group remains open to new members. For more information, please see www.CLTAngelFund.com or contact Greg Brown at gbrown@CLTAngelFund.com or 980-307-0754.

About Ecomdash

Ecomdash is a software-as-a-service that automates backend operations for ecommerce sellers. Ecomdash streamlines and integrates omni-channel retailers’ inventory, sales orders, product listings and shipping processes across marketplaces like Amazon and eBay as well as ecommerce-ready website platforms like Shopify. Ecomdash gives merchants the ability to grow sales, save time, and increase customer satisfaction. For more information, please see www.ecomdash.com or contact mktg@ecomdash.com or 704-687-8067.

Charlotte Angel Fund Releases Results of Charlotte area Early Stage Investor Survey

Charlotte, NC – Charlotte Angel Fund, an early stage investment group, today announced the results of a survey that it conducted of Charlotte area angel and venture capital investors.  The survey’s purpose was to gain a better understanding of the investment history and outlook of Charlotte’s early stage investment community. 

The survey respondents were 61 Charlotte area residents who identified themselves as active angel or venture capital investors.  Those 61 respondents reported that their personal investments in the categories of angel or venture capital within the past five years totaled $36.175 million.  It should be noted that this represents investment of personal funds rather than any funds which the respondents may manage on behalf of others, and excludes investment into any business where the investor is involved in management.

“The total of over $36 million of angel and venture capital investment made by Charlotte area residents demonstrates that there is a significant level of early stage capital available in our city,” stated Greg Brown, Charlotte Angel Fund’s Administrator.  “That equates to $7 million of investment per year, or 14 startups that can be funded at $500,000 annually by those who responded to the survey.  It should also be noted that the 61 survey responses represent only a fraction of Charlotte’s active angel and venture capital investors.”

The survey gathered data with regard to the geographic regions where those 61 investors made their investments over the past five years, and where they believe that their investments will be made over the next five years.

“The data clearly indicate that Charlotte investors disproportionately invest close to where they live, with a full one-third of their capital going to early stage companies in the Charlotte metro area,” said Brown.  “It is interesting to note that while the Raleigh-Durham area is seen as North Carolina’s hotbed for startups, Charlotte investors have deployed more than three times as much early stage capital in Charlotte-based companies as they have in the remainder of the state.  Looking at the prospective data, the investors intend to increase even further their commitment to investing in Charlotte, the state of North Carolina, and the southeast U.S.”

With regard to investment by industry sector, software & apps as well as healthcare were the most popular.

“As expected, software and healthcare were the sectors which received the most early stage investment dollars,” commented Brown.  “Of note is that Charlotte investors expect to increase their allocation to software over the next five years, with a corresponding decrease in healthcare startup funding.”

Charlotte investors have also demonstrated a willingness to provide substantial capital to individual companies.  Over half of the survey respondents have invested $100,000 or more in a single company, with 15 of them having provided $250,000 or more in investment to an individual company. 

“This survey data should be seen as extremely positive news for Charlotte as a whole, and in particular for our city’s entrepreneurial ecosystem,” stated Brown.  “Charlotte residents have demonstrated a willingness to provide capital to startups in this city and throughout the state, and intend to increase their allocation to those areas.” 

Brown continued, “It is heartening to see the increased level of attention being paid to Charlotte’s entrepreneurial companies, as it is from that community that the drivers of Charlotte’s economic future will emerge.  Hopefully this survey will enable data-driven discussions between policy makers, entrepreneurs, and investors rather than having to rely upon anecdotes.”

Brown concluded, “This survey was conducted as a part of Charlotte Angel Fund’s efforts to create a more cohesive early stage investment community in Charlotte.  By doing so we aim to improve investment outcomes for angel and venture capital investors in the area, increase the amount of capital that is available to local startups, and make it easier for Charlotte’s entrepreneurs to make themselves visible to local investors.

Charlotte Angel Fund Invests in PRSONAS, Inc.

Charlotte, NC – Early stage investment group Charlotte Angel Fund announced today a $94,000 investment in PRSONAS, Inc., a company focused on development of holograms which use artificial intelligence as a means of augmenting their customers’ branding efforts.  This investment was a part of the Company’s $525,000 convertible debt funding round. This is the Fund’s sixth investment since it formed in December 2013. 

PRSONAS, based in Durham, NC, was an attractive investment due to its unique position of being a cutting edge technology company that has product in the market and a significant customer base.  The company’s holograms are used by over 40 customers as digital greeters in a variety of settings.

In addition to funding from Charlotte Angel Fund, participants in the PRSONAS funding round included IMAF Coastal Plain, IMAF Sandhills, and IMAF East.  Concurrent with the funding, PRSONAS also added former Red Hat executive Tom Rabon and former DigitalSmith’s executive Petra Weishaupt-Smith to its board of directors.

A significant factor in the Fund’s investment selection was the strong PRSONAS co-founder team of David Rose and Chuck Rinker.  Their combination of experience and expertise in the areas of sales and technology development were keys to the investment decision.

“To have been able to develop a sophisticated technology product, launch it, and land over 40 customers with no external funding speaks volumes about the PRSONAS team,” stated Greg Brown, Charlotte Angel Fund’s Administrator.   “We are pleased to have participated in this financing, and look forward to the development of the company and this exciting technology.”

Charlotte Angel Fund Invests in Camras Vision, Inc.

Charlotte, NC – Early stage investment group Charlotte Angel Fund announced today an $81,000 investment in Camras Vision, Inc., a medical device company focused on developing a treatment for glaucoma.  This investment was a part of the Company’s $600,000 Series Seed funding. This is the Fund’s fifth investment since it formed in December 2013. 

Camras Vision, based in Research Triangle Park, NC, was an attractive investment due to its novel approach for treatment of moderate to severe glaucoma sufferers, and its strong management team.  The Camras Shunt, which is designed for glaucoma patients who have failed pharmaceutical therapy, is less invasive and provides patients with an accurate pressure adjustment.

To date the company has been engaged in pre-clinical testing of the shunt and development of its patent portfolio.  A six month animal study in expected to conclude in 2016, which will pave the way for first in-man studies.

In addition to funding from Charlotte Angel Fund, participants in Camras Vision’s Series Seed round include IMAF Coastal Plain, IMAF Sandhills, IMAF East, RTP Capital, and IMAF RTP.  In addition, the company has received grant funding from the NIH and NSF.

A significant factor in the Fund’s investment selection was Camras Vision’s strong management team.  The company’s Chief Scientific Officer is Dr. Lucinda Camras, who developed the Camras Shunt.  CEO Ray Krauss previously served as COO of Summit Technology (developers of LASIK eye surgery technology) and Division VP of Johnson & Johnson’s Ophthalmic Division.  Roberto Alfaro, President, brings operational and financial expertise to the team.

“The Camras Vision team brings passion, focus and a strong background in ophthalmic technology and business development,” stated Greg Brown, Charlotte Angel Fund’s Administrator.   “We are pleased to have participated in this financing, and look forward to participating in the development of the company and this exciting technology.”