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Raising Startup Capital From Anywhere, USA (Submittable.com in Missoula, Montana)

January 24, 2013 /

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Technology startup Submittable Inc. http://www.submittable.com has raised nearly $1 million from angel investors since its inception in 2010. Its three founders aren’t from an entrepreneurial hub like San Francisco or New York. They live in Missoula, Mont., are in their 40s and have never before started a business.

To court potential backers thousands of miles away, the trio posted a profile of their startup on AngelList, a networking site for investors and entrepreneurs not unlike LinkedIn. They included details about the business that they figured would be attractive to investors, such as the number of customers already using its Web-based submission-management software.

"It acts as a megaphone," says one Submittable co-founder, Michael FitzGerald, 42 years old.

By SARAH E. NEEDLEMAN AND LORA KOLODNY

Full Story: http://online.wsj.com/article/SB10001424127887324039504578260421145373916.html

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