Gimigo says adios to Minnesota

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Gimigo Security startup Gimigo was founded in Minneapolis, but has recently relocated to Seattle, WA, according to founder Lukas Dickie.

Focused on enabling consumers to securely manage and share personal information, Gimigo raised an unknown amount of initial  funding in 2008, yet for Dickie, “the investment climate in Minnesota was sailing like without wind” when it came time for a second round.

“An opportunity opened up on the west coast which will allow us to achieve our goals. Never quit.  Never follow.  Change is the only constant.”

Comments

  • http://twitter.com/nathanrerickson Nathan Erickson

    just have to go where you're supported ;)

  • Joe

    Not the first and certainly not the last tech start-up to leave Minnesota due in part to the cold funding climate. The funding environment in Minnesota isn't great and it does not look like things are improving.  This fact is very frustrating due to the amount of “old money” in the area. There is as always lots of talk but nothing is done to help things move forward.

  • http://twitter.com/casey__allen Casey Allen

    For the sake of intelligent conversation: the company has yet to launch a product.

    Most startups that leave MN giving “lack of investors” as the reason don’t go anywhere. Those that move because of clients or talent or Y Combinator (of which there are ~ 8-10 MN alum) or other reasons tend to do well.

    Yes, of course, there is more investment dollars elsewhere. It doesn’t mean you need to move to get them and doesn’t mean you have a prayer of getting them anyways.

    It’s almost the bellwether. If a company moves claiming lack of investors the odds are almost certain they won’t be doing anything impressive two years later.

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