Built in Colorado: Colorado technology companies had best year ever in 2014

By: InnovatioNews Friday January 30, 2015 0 comments Tags: Boulder, Built in Colorado, Craftsy, Denver, Fort Collins, Galvanize, Ibotta, Mercury Payments, Orbotix, Pete Khanna, TrackVia, TriZetto, ViaWest

 

DENVER - Built in Colorado announced 140 Colorado tech companies raised $758 million in 2014, a 64 percent funding increase over 2013.

In addition, 36 Colorado digital tech companies had exits totaling nearly $11 billion -- 836 percent higher than 2013 -- making 2014 the best year on record for tech companies, Built in Colorado said.

Built in Colorado's report said investment in startups was geographically split between Boulder and Denver at 42.3 percent and 56 percent respectively.

The report noted that investment in Colorado startups appears to be getting easier.

"Gone are the days of 'Well, we can't really attract out-of-state capital,'" said Pete Khanna, TrackVia CEO, whose company raised $2.5 million in 2014.

"There is a lot of out-of-state money coming into Colorado," Khanna said in Built in Colorado's report. "Colorado is now a destination for people to invest from all over the country."

The report noted that 2014 was also a good year for buyouts and IPO valuations, with three "unicorn" companies - valued at more than $1 billion - making exits.

They included ViaWest's $1.2 billion sale, Mercury Payments' $1.65 billion sale and TriZetto's $2.1 billion sale.

Several Colorado startup companies raised significant amounts of funding in 2014, the report said, including Craftsy's $50 million, Ibotta's $22 million and Orbotix's $15.5 million.

Galvanize, a tech skills training company, raised $18 million in 2014 with plans to have five Colorado locations in 2015 with two in Denver, two in Boulder and one in Fort Collins.
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InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.