Minnesota's software sector has gone through a remarkable transformation over the past 4 years. The software sector began to shift dramatically between 2021 and 2023. During this period, the state witnessed a surge in innovation and investment, boosting startups like Upsie and Sentra.
The state has over 100,000 software employees, which accounts for around 5 percent of the total employment.
However, securing an investment aint a piece of cake. With so many angel investors eager to fund software startups, it can be difficult to choose one.
But, fear not. The following list highlights some of the top ranked angel investors in Minnesota investing in the software sector.
Here is the List of The Top 7 Angel Investors in Minnesota who Fund Software Startups
| Investor Name | Focused Sectors | Funding Stages | Notable Investments |
|---|---|---|---|
| Shani Graber | Computer, Network Security, Software, Logistics, Retail Technology, Cyber Security, SaaS, Advertising, Marketing | Seed and Series A | LogicStream Health, RemitDATA, Pure Life Renal, Relativity Technologies, EG Technology, Voxie, BioMimetic Therapeutics, MacStadium |
| Conor Green | Artificial Intelligence, CRM, Health Care, Machine Learning, Consulting, Developer Tools, Information Technology, InsurTech, Biotechnology | Seed and Series A | Updox, ConsumerMedical, Clinithink, Revel, MacroHealth |
| Dean Dorman | Artificial Intelligence, CRM, Health Care, Machine Learning, Consulting, Developer Tools, Information Technology, InsurTech | Seed and Series A | NextHealth Technologies, Happify, Updox, ConsumerMedical, Clinithink, Revel, MacroHealth |
| Ben Ault | Software, Logistics, Retail Technology, Cyber Security | Seed and Series A | DataSmart, DataCloud |
| Sean Stevens | Computer, Network Security, Software, Logistics, Retail Technology, Cyber Security, SaaS, Advertising, Marketing | Seed and Series A | Tower Cloud, Envera Health, Advance Health, Senior Whole Health, Diabetes Care Group, Trilliant Health, Virtustream, Vocalocity |
| Shawn Kelly | Artificial Intelligence, CRM, Health Care, Machine Learning, Developer Tools, Information Technology, InsurTech, Biotechnology, Pharmaceutical, Wellness, Software, SaaS, mHealth | Seed and Series A | Realized, Capacity |
| Samuel Copman | Software, SaaS, mHealth, Neuroscience, B2B, B2C, Collaboration, Developer APIs, Messaging, Unified Communications | Seed and Series A | 48 Forty, Brain Waive, Quick Pay, Shop Ease |
Shani Graber
- Contact: LinkedIn
- Focused Sectors: Computer, Network Security, Software, Delivery Service, Logistics, Retail Technology, Same Day Delivery, Women Founded, Women Led, Cyber Security, SaaS, Security, Advertising, Marketing, Messaging, E-Commerce
- Present In: Minnesota
- Notable Investments: LogicStream Health, RemitDATA, Pure Life Renal, Relativity Technologies, EG Technology, Voxie, BioMimetic Therapeutics, MacStadium
Shani Graber is a prominent angel investor with a deep passion for supporting innovative technology startups. Since beginning her investment journey in 2015, after gaining experience with major venture capital firms like Sequoia Capital and Benchmark Capital, Graber has invested in over 30 early-stage tech startups.
Graber prefers to invest in early-stage startups, mostly participating in Seed and Series A rounds. She focuses on startups that have strong growth potential, a clear market need, and a visionary founding team.
The investment range of Shani Graber lies between $50,000 to $250,000, depending upon the estimated ROI and targeted market.
Conor Green
- Contact: LinkedIn
- Focused Sectors: Artificial Intelligence, CRM, Health Care, Machine Learning, Consulting, Developer Tools, Information Technology, Information Services, InsurTech, Biotechnology, Genetics, Pharmaceutical, Women Founded, Medical, Wellness
- Present In: Minnesota
- Notable Investments: Updox, ConsumerMedical, Clinithink, Revel, MacroHealth:
Conor Green is a well-known angel investor focusing on early-stage startups in the fields of artificial intelligence and healthcare. Since starting his investment career in 2016 with renowned firms like Andreessen Horowitz and Blackstone, Green has invested in numerous software companies that have evolved into industry leaders.
Likewise, Conor Green likes to invest in startups that offer innovative solutions to pressing market needs. He is active on social media platforms and searches for companies who are well aware of the modern software landscape.
Since 2016, Conor Green has funded over 25 startups, with an investment range generally between $100,000 and $300,000 per company.
Dean Dorman
- Contact: LinkedIn
- Focused Sectors: Artificial Intelligence, CRM, Health Care, Machine Learning, Consulting, Developer Tools, Information Technology, Information Services, InsurTech
- Present In: Minnesota
- Notable Investments: NextHealth Technologies, Happify, Updox, ConsumerMedical, Clinithink, Revel, MacroHealth
Known as one of Minnesota's most prominent fintech investors, Dean Dorman also has a keen interest in tech-driven startups. He began his investment journey in 2014 and has funded dozens of fintech and insurtech companies, many of which have scaled above $100 Million.
He usually looks for startups that have strong growth potential and can easily scale on an international level once provided with the right guidance and funds.
The investment range of Dean Dorman varies between $100,000 to $500,000, depending upon the growth potential.
Ben Ault
- Contact: LinkedIn
- Focused Sectors: Software, Delivery Service, Logistics, Retail Technology, Cyber Security, SaaS, Security, Advertising, Marketing, Messaging, E-Commerce, Information Technology, Craft Beer, Enterprise Resource Planning (ERP), Enterprise Software
- Present In: Minnesota
- Notable Investments: DataSmart and DataCloud
Funding startups since 2017, Ben Ault is an angel investor with a strong focus on technology and consumer-facing startups.
Ault primarily invests at the earliest stages, targeting startups that have a clear vision, a scalable business model, and a strong founding team. His investment philosophy revolves around guiding businesses through the different startup stages and helping them make a successful exit.
Ben Ault has invested in over 15 startups, with an investment range typically between $100,000 and $400,000.
Sean Stevens
- Contact: LinkedIn
- Focused Sectors: Computer, Network Security, Software, Delivery Service, Logistics, Retail Technology, Same Day Delivery, Women Founded, Women Led
- Present In: Minnesota
- Notable Investments: Tower Cloud, Envera Health, Advance Health, Senior Whole Health, Diabetes Care Group, Trilliant Health, Virtustream, Vocalocity, Half Off Depot, SecureWorks, NewsStand Inc., Wellcentive, NovuHealth, 2080 Media, Aunt Bertha, BroadSource, Acumen Holdings
Investing in businesses since 2016, Sean Stevens has funded more than 20 startups with most of his investments through social platforms and fundraiser events.
He has a background in CS and has worked with Greylock Partners and The Carlyle Group as a Manager/Investor. Stevens focuses on startups that showcase innovative technology, a clear market need, and a scalable business model. He is particularly interested in companies that have developed B2C software and have ideas that can shape the future.
The investment range of Sean Stevens lies between $150,000 to $500,000.
Shawn Kelly
- Focused Sectors: Artificial Intelligence, CRM, Health Care, Machine Learning, Consulting, Developer Tools, Information Technology, Information Services
- Present In: Minnesota
- Notable Investments: Realized and Capacity
With more than 15 investments in his portfolio, Shawn Kelly is also looking forward to supporting early-stage startups in Minnesota. He began his investment career in 2015 and worked at Kleiner Perkins and TPG Capital.
Kelly prefers to invest in startups that offer groundbreaking solutions in their respective industries. He likes startups with a strong emphasis on research and development, as well as those with a clear pathway to commercialization.
The investment range of Shawn Kelly lies between $200,000 and $600,000, depending upon the startup's idea market. He is an active participant in different startup events to discover new investment opportunities.
Samuel Copman
- Focused Sectors: Software, SaaS, mHealth, Neuroscience, B2B, B2C, Collaboration, Developer APIs, Document Management, Messaging, Unified Communications
- Present In: Minnesota
- Notable Investments: 48 Forty, Brain Waive, Quick Pay, and Shop Ease
Samuel Copman is an active angel investor with a focus on startups in the fintech, artificial intelligence (AI), and e-commerce sectors. He started his investor journey in 2012 and has funded around 20 companies at the seed-stage.
Copman primarily invests in startups that leverage cutting-edge technology to solve real-world problems.
Like most other investors in the state, Samuel Copman invests through startup events. He often participates in events conducted by Andreessen Horowitz, Blackstone, or other notable companies whom he has worked with.
The investment range of Samuel Copman can go up to $500,000.
Wrap-Up:
And.. That's it. The list of top angel investors has finally come to an end. However, for founders who are ready to pitch to their targeted investors, let us share some important tips.
When approaching individual angel investors, take the time to research their past investments and understand their focus areas. A common mistake many founders make is getting overly excited after the initial approval of their idea and rushing to close the deal.
Create a customized pitch to align with their interests, and highlight how your startup can address a gap or create value in their preferred industry.