For the second month running, Foundry Group led the largest funding round of startups statewide by placing another bet on a Boulder business.
TeamSnap, which makes software to organize sports teams, reaped a $25 million raise led by Foundry in January. The deal helped boost Colorado startups to $76 million in fresh capital for the month.
In December, another Foundry-backed software startup, VictorOps, topped the month’s startup rounds with a $15 million haul.
Year-to-year, startups raised more than double their January 2015 total of $33 million.
For this monthly survey, BusinessDen rounds up SEC Form Ds, by which firms report fresh private investments. We define a startup as any business founded in the past 10 years, excluding publicly traded companies, real estate projects and investment funds.
Not counting a whopping $1.1 billion private placement (filed as part of a deal to restructure Denver-based natural gas liquids company DCP Midstream), Colorado Form Ds totaled $209 million in January.
For in-depth details on all of those raises – startups and non-startups alike – download a spreadsheet here.
Here is past coverage of the companies on this month’s list in BusinessDen:
- Software startup Cloud Elements raised $13 million in a Series B financing. It last passed the hat to investors in September 2016 for a smaller $1 million round.
- Faction Holdings filed paperwork for $5 million in equity financing; it announced a total of $11 million raised last month, counting debt. The data center firm’s previous funding round, in December 2015, was $3 million.
- SecureSet Academy raised $4.7 million as it eyes an expansion into Florida. The company, which teaches classes for aspiring cybersecurity pros, has also been fueling its startup accelerator.
- RxRevu, which helps customs compare drug prices, raised another $4.7 million after a $3.7 million boost in the arm in October.
- Cannabis-based dog supplement maker Therabis raised $500,000 to keep pace with the puppy munchies.
- Virtual reality startup Walkthrough netted $325,000 as it plans to stroll its virtual home tours into San Francisco.