The Term Sheet: Startup funding roundup for June

spruce ipad

An iPad in the dressing room at Spruce simulates different lighting situations – this is the club theme. Photo by Amy DiPierro.

Companies aiming to help surgeons – and singles – were among 30 up-and-comers claiming a chunk of the $41 million invested in Colorado startups last month.

In its monthly round up of SEC Form Ds, BusinessDen found that Denver startups brought in $23 million, outraising their Boulder counterparts 11 to 1. (You can download a sortable Excel file with all of the transactions here.)

Notion sensors send signals to a Wi-Fi connected plug-in that forwards messages to smartphones.

Notion sensors send signals to a Wi-Fi connected plug-in that forwards messages to smartphones.

Denver owes nearly half its lead to Convercent, a compliance software startup that raised $11 million as it plans to ramp up from 57 to 80 employees by year-end.

Also in Denver, home sensor system startup Notion reported raising another $5.6 million. It last disclosed a capital raise in March.

Dating website MeetMindful, fresh off a stint at Techstars in Boulder, moved back to the Mile High City and landed $800,000 in funding as it set its sights on Portland.

And in Westminster, a venture capital firm pumped $920,000 into CardioNXT, which is testing a tool it says will make it cheaper for doctors to see the wiring of the human heart.

Statewide, tech startups raised $24 million.


GetOutfitted rents out camping and other outdoor equipment. Photo courtesy of GetOutfitted.

Colorado’s newbie retailers also reaped fresh capital last month. Berkeley-based Spruce, a menswear store and barbershop known for tech-savvy touches, raised $120,000 as part of a Techstars accelerator in Minneapolis. Gear rental startup GetOutfitted grabbed $385,000 after launching a rent-to-own program for kayaks. 

For the monthly tally, BusinessDen defines a startup as any company founded in the past 10 years that isn’t publicly traded and isn’t an investment fund or real estate project.

February marks the high-water mark for startup funding this year, with Colorado companies in their first 10 years raising $75 million. In-state startups raised $45 million in May.

Excluded from this month’s tally is a combined $600 million raised by oil and energy company FourPoint Holdings and a related entity. FourPoint announced it would buy $385 million in assets from Chesapeake Energy in February.

You can see all of the data from June – and filter it by the companies’ headquarters and industries – in this document. A map of all of the capital raises reported in Colorado this year is here.

Got a startup news tip or a question about the spreadsheet? Email [email protected]

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