Built in Colorado: Funding for startups had $780M record year in 2016

Wednesday January 25, 2017 0 comments Tags: Built in Colorado

DENVER – Total funding for Colorado-based tech startups was up 14 percent in 2016 over the previous year, according to a report just released by Built in Colorado.Built_in_Colorado_logoUSE_1

The report said more than $780 million was raised in 2016 to fund 129 companies, the highest amount ever raised in a single year.

A total of more than $38 billion was taken in from 14 exits in 2016, according to the report.

Companies raising more than $20 million in 2016 included PaySimple, LogRhythm, Galvanize, Welltok, SendGrid, Wiland Inc., simPRO Software and FullContact.

PaySimple raised the most money in 2016 with $115 million in equity funding, followed by LogRhythm with $50 million. Galvanize was third-highest for the year with $45 million in a Series B round, the report said.

Level 3 Communications had the biggest exit of 2016 when it was acquired by CenturyLink for $34 billion.

To view the entire report, click here.