Outdoor Project Secures Series A Funding
— $2M investment will drive nationwide expansion —
— Oregon Angel Fund leads the round with Cascade Angels’ support —
— Company was awarded $150k as winners of 2016 Bend Venture Conference —
BEND, OR (February 23, 2017) – Local startup Outdoor Project—found online at outdoorproject.com—announced this week that it has secured a total of $2M in a Series A funding round. This past October, Outdoor Project was awarded $150,000 in funding as part of the Bend Venture Conference.
The most recent investment was led by Oregon Angel Fund, and includes Cascade Angels. Outdoor Project is Oregon Angel Fund’s first digital media investment and the second to be added to Cascade Angels’ portfolio. The round includes participation from other angel investors and industry veterans from the digital media and outdoor industries.
“When we first met with Outdoor Project, we were immediately impressed by their team. They are clearly very passionate and knowledgeable about the outdoors and have created a great way to share experiences with other passionate enthusiasts,” said Jon Maroney, a partner at Oregon Angel Fund. “ OAF is very excited to be part of Outdoor Project’s adventure.”
Julie Harrelson, Fund Manager for Cascade Angels, added “we are pleased to be making this investment in Outdoor Project. Outdoor Project impressed our team with their growing track record of success over the past three years. This is our sixth and final investment for 2016 and we’re excited to be an integral part of their business.”
Tyson Gillard, Co-Founder and CEO at Outdoor Project commented, “Closing this funding round is tremendous validation for the quality work our contributors and team put into building the world’s greatest outdoor adventure guidebook. Great media, detailed maps and inspiring, complete content is a key piece to support an ever-growing movement for people, largely millennials and young families, to get outside. We’re excited to expand our content to the entire U.S. and key markets in Canada in 2017.”
Outdoor Project will use a portion of the funding to add five new hires to support its six person founding team. It will also bring on more adventurers to join its nearly 200 active contributors who provide the media and information used to build adventures on the website. The company will announce these key industry hires as well as new board members in the coming weeks.
Gillard concluded, “Building a successful digital media company requires a great team that understands how brands can leverage great content to connect with their target audience, and we’ve been fortunate to add some amazing industry insiders to the business.”
About Outdoor Project
Outdoor Project’s goal is to create the most comprehensive online resource and the largest community for outdoor adventure and travel, with a plan to revolutionize the way that people find, search for and share their outdoor experience. The website provides photos, maps, and guides for all types of human-powered outdoor activities. The content aims to inspire users to explore new places, head a little bit further down their favorite trails, and get outside more often to find adventure. Outdoor Project starts with exceptional photography and adventure videos, custom maps, and guides. A community of members completes the picture. Outdoor Project can be found at www.outdoorproject.com.
About Oregon Angel Fund
Founded in 2007, OAF is a community supported, professionally managed, investor driven venture capital fund backed by the leaders of Oregon’s business, technology, and entrepreneurial communities. The fund’s largest investors include the State of Oregon, the Oregon Community Foundation, and the Meyer Memorial Trust. OAF invests $10 million annually in the most promising startups and early-stage growth companies in Oregon and SW Washington. Over 2,200 jobs have been created by the over 40 companies in the portfolio. For more information please visit: www.OregonAngelFund.com
About Cascade Angels
Founded in 2013, Cascade Angels is a professionally managed, investor driven venture fund that creates opportunities for investors and businesses with connections to Central Oregon to drive economic growth and fuel prosperity. The Fund’s investors include prominent business leaders, exited entrepreneurs and institutional investors who are committed to contributing to a sustainable economy and building Oregon’s entrepreneurial ecosystem. Since 2014, Cascade Angels Fund has invested almost $2M in 13 early stage companies that cumulatively employ over 100 people. For more information, visit www.CascadeAngels.com or www.twitter.com/CascadeAngels.
About the Bend Venture Conference
The Bend Venture Conference, hosted by Economic Development for Central Oregon, is one of the largest angel conferences in the country. More than 500 attendees, six funds, 32 prominent investors, and 90 companies participated in 2016’s conference, where close to $4 million was awarded to 12 winners.