Blue Medora software attracts $1.2M from Start Garden and Grand Angels
Start Garden announced its largest investment yet today.
The seed fund is putting $500,000 into Blue Medora, a Grand Rapids based enterprise software development company located at 3325 N. Evergreen Drive.
Starting with a few more zeroes than Start Garden’s typical $5,000 first level fund, Blue Medora is also getting financial love from Grand Angels, a regional group of angel investors, which announced 20 of its members will also be contributing investments totaling $750,000 into Blue Medora.
With Start Garden and Grand Angels funds combined, Blue Medora just became $1.25 million richer. The company plans to use the new funding to fuel its continued rapid expansion and go-to-market activities.
Blue Medora specializes in the developing, implementing and supporting software products in enterprise systems management markets. Its primary focus is virtualization and cloud monitoring and management plugins, which extend the functionality of IBM Tivoli Monitoring and Oracle Enterprise Manager.
Rick DeVos, founder of Start Garden, said the organization’s biggest investment to date is a great example of supporting businesses that bring people into the economic ecosystem.
“We’re thrilled with how it’s going and just the variety of ideas we’re getting exposure to,” DeVos said. “I think we’re all pretty excited.”
Paul Moore, Start Garden marketing director, said Blue Medora showed it deserved the hefty investment immediately.
The software it creates helps managers crunch data most relevant to them, Moore said, and Blue Medora’s work has been chatted about in many startup circles.
“Most startups think direct to consumer, and this is an enormous opportunity for startups catering to enterprise companies,” Moore said. “It’s a really intriguing opportunity, and it’s clearly the starting point for it.”
Blue Medora’s founder, Nathan Owen, had the enterprise company connections Moore was looking for: Owen has been a member of the IBM Tivoli business development team, which managed IBM Tivoli’s SAP and Oracle relationships. He was a member of IBM’s software acquisition due diligence team. Owen also co-founded the software firm OctetString, which Oracle bought in 2005.
To put the cherry on top, Owen was recently selected by IBM as one of 20 worldwide inaugural "IBM Champions," which honors “innovative thought leaders in the technical community.”
“We are extremely grateful for the support that Start Garden and Grand Angels have provided for Blue Medora,” Owen said. “We feel that we have a significant opportunity to build a successful business and to be able to find others right here in our own community that share that belief and are willing to provide the resources to help make it possible is pretty remarkable.”