Falls Angel Fund announces new investment

From staff reports

A North Dakota software-technology company is the latest investment for Falls Angel Fund, a Sioux Falls-based angel investment fund.

Myriad Mobile announced it has raised $1.5 million to launch an ag-tech product for the grain industry. The business focuses on mobile and web applications, and has deployed more than 350 apps since 2011.

Gen7 Investments, the investment arm of North Dakota-based Forum Communications, is the lead investor in the round, which includes Falls Angel Fund and other investors.

Matthew Paulson

“We are very excited about the opportunity that Myriad has to modernize the way that farmers and grain elevators interact with each other,” said Matthew Paulson, chairman of Falls Angel Fund. “We were very impressed with the adoption rates at the elevators that piloted this technology, and we can’t wait to see what kind of progress they make with this new infusion of capital.”

Myriad briefly had an office in Sioux Falls but no longer has one.

“Myriad has a driven and intuitive team, with strong roots in agriculture,” said Bill Marcil Jr., president, CEO and publisher of Forum Communications, Agweek and Gen7 Investments. “They have identified a real need in the ag space and have done the hard work to fill it. We’re excited to give them the boost they need to leverage this new technology for the grain industry and bring it to market.”

Myriad will launch its product for the grain industry later this month, as the investment also will help build-out technology infrastructure as well as marketing and promotion. The company of more than 40 mobile engineers, designers, architects and business consultants has strategized, designed and deployed more than 350 technology projects for national brands American Express, U.S. Bank and ag giants Cargill, Bobcat, John Deere and Monsanto.

“This is exactly the kind of company that Falls Angel Fund is looking to invest in,” Paulson said. “Myriad Mobile has a great management team, is operated locally and has strong prospects for future growth.”

Falls Angel Fund announces new investment

A North Dakota software-technology company is the latest investment for Falls Angel Fund, a Sioux Falls-based angel investment fund.

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