Funding will be used to expand IoT connectivity product line and accelerate global expansion
PORTLAND, OR, June 01, 2017 — (Marketwired) – Rigado Inc., a global provider of integrated wireless solutions, today announced it has closed a $3.3 million seed round of funding, led by the Oregon Angel Fund, with Rogue Ventures and others participating. The investment will be used to expand Rigado’s line of connectivity products for IoT, extend its footprint into Europe and Asia, and meet the accelerating market demand for chip-to-cloud connectivity solutions.
“Rigado is meeting a significant need for wireless solutions that help companies bring IoT products to market faster which is incredibly important as the IoT race heats up,” said Scott Sandler, Oregon Angel Fund Manager. “Rigado is positioned to take advantage of the growing proliferation of IoT devices with technologies that help companies manage and update them at scale. We are proud to invest in Rigado and help them accelerate IoT solutions for global enterprises.”
Steve Buhaly will join the Rigado Board of Directors as the investor representative from the Oregon Angel Fund. Mr. Buhaly has a deep background in finance and technology, having served as a CFO representing publicly held companies in the Oregon high tech sector for the past 15 years. Mr. Buhaly most recently served as CFO at Qorvo, a wireless RF provider, and prior to that TriQuint Semiconductor.
“Rogue Ventures has a strong track record of working with many of the best and most promising Northwest start-ups and we are glad to have Rigado join our portfolio,” said Tom Sperry, co-founder and Managing Director of Rogue Venture Partners. “We are inspired by entrepreneurs who are driven by market traction and Rigado has this in abundance, growing quickly and serving hundreds of clients with its wireless IoT solutions. We look forward to helping Rigado further accelerate its leadership position, innovation and market traction.”
Founded in 2010, Rigado has grown to serve over 250 customers, with product revenues more than tripling since 2015. Rigado is also fueling innovation and over the past year introduced its Rigado IoT Gateway and two new wireless modules for commercial, industrial and consumer IoT applications. These solutions have helped propel Rigado’s business growth and contributed to Rigado being:
Rigado’s award-winning integrated wireless solutions help companies quickly develop and scale their connected products and services. Rigado offers certified wireless modules and configurable gateways that reduce cost and time to market, and its DeviceOps tools enable secure device updating at scale. More than 250 global customers rely on Rigado to power their consumer, commercial and industrial IoT solutions. Rigado can be reached at www.rigado.com.