Built in Denver: Colorado launched 122 new digital tech startups in 2012

By: Steve Tuesday June 4, 2013 0 comments Tags: Brad Feld, Built in Denver, COIN, Denver, Erik Mitisek, Foundry Group, Jim Franklin, Kristin Russell, SendGrid

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DENVER - Built in Denver, an online community for digital startups and entrepreneurs, reported Colorado entrepreneurs launched 122 digital technology startups in 2012.

BID also announced 70 companies secured funding of at least $1 million last year, with software and B2B web representing the fastest-growing sectors, and 20 companies were acquired.

"2012 was another record-setting year for digital technology companies in Colorado," said Erik Mitisek, Colorado Technology Association CEO and Built in Denver board chair.

"The spotlight on Colorado's digital technology economy is shining bright, as government, media, large corporations, major universities and investors from around the country are taking notice - and now we have the data to prove it."

"Built in Denver's report further highlights and provides hard data on the power and energy of the information technology community in Colorado," said Kristin Russell, Colorado's secretary of technology and Colorado Innovation Network (COIN) board chair.

"Colorado is truly becoming the innovation center and the 'Silicon Mountain' of the information technology community in the United States."

Activity in Colorado attracted more than 47 investors from outside the state to help fund digital companies in 2012, with the highest number of investments from Boulder-based Foundry Group.

"Colorado has developed into a state that every investor should watch," said Brad Feld, Foundry Group managing director. "Our startup communities and economy are thriving, and the companies being created here are awesome."

The report said 78 percent of the investment went to software and B2B web-focused digital technology companies, with SendGrid raising the most money -- $21.6 million--to further develop its cloud-based email infrastructure system.

"2012 was a key year for SendGrid as it cemented the brand as the leader in email delivery," said Jim Franklin, SendGrid CEO. "The funds we raised last year gave us the ability to scale our business to meet growing global demand and aggressively accelerate hiring and invest in our product, developer relations and customer support."

For more information, visit http://www.builtindenver.com.

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