The Term Sheet: Notable startup funding raises in 2019

Colorado startups collectively raised nearly $1.48 billion from January to November this year, with the largest raise reported by Denver-based Guild Education.

BusinessDen defines a startup as a company that’s 10 years old or less and excludes funds, real estate ventures and publicly traded companies.

Here are some of the largest capital raises by a startup from January to November.

Guild Education: $142.3 million

Denver-based Guild Education raised nine figures in venture capital in November. (Courtesy Guild Education)

Guild Education, which offers reduced-cost college education to large employers, reported to the SEC in November that it had raised $142.3 million from 17 investors. The company announced around the same time that it had raised $157 million in all.

The funds raised will help the company hire additional staff, foster more partnerships with universities and employers, and explore acquisition opportunities, according to a news release.

Flat River Minerals: $102 million

Oil and gas venture Flat River Minerals raised $102 million in May.

Congruex: $75.78 million

Congruex raised almost $49 million in capital funding.

Congruex, a telecom engineering and construction startup that launched in 2017, raised $26.51 million in July, $48.89 million in August and $381,780 in September, according to SEC filings.

Funds raised in August will be used to offer end-to-end services to broadband providers, according to BizWest.

Red Canary: $33.84 million

Red Canary plans to expand its workforce in coming months. (Courtesy Red Canary)

Cybersecurity firm Red Canary’s software detects potential threats and sends them to its analysts to investigate. If it’s a false alarm, the software learns to ignore similar activity in the future. If it’s a real breach, the analyst alerts customers and helps them to respond.

The company raised $33.84 million in April.

DispatchHealth Holdings Inc.: $32.92 million

The Denver-based company that provides mobile health care to patients raised $33 million in May.

DispatchHealth health care professionals travel to patients’ homes for non-emergency care. (Courtesy DispatchHealth)

DispatchHealth, founded in 2013, said at the time that part of the capital would be used to move its headquarters within Denver. The company declined to provide more information when BusinessDen checked in last week.

DispatchHealth operates in 18 cities, with at least one new city coming online soon, according to the company’s website.

Elite SEM Holdings: $31.35 million

Denver-based digital marketing firm Elite SEM Holdings reported $31.35 million in venture capital in June.

Overland Energy Partners III: $30 million

Denver-based Overland Energy Partners III raised $30 million in September with 37 investors, according to an SEC filing.

Overland Energy Partners III is a branch of Overland Oil & Gas and Overland Minerals & Royalties. The company, founded in 2011, is an oil, gas and mineral rights acquisition company.

Edgewise Therapeutics raised approximately $25 million in September. (Screenshot)

Edgewise Therapeutics: $25.07 million

The Boulder-based company focused on developing medicines for musculoskeletal diseases raised $25.07 million in September.

In a previous interview with BusinessDen, Edgewise Therapeutics said it planned to use the funds for clinical development of a molecule designed to help patients with Duchenne and Becker Muscular Dystrophy. The molecule, which is in a preclinical study, is expected to be tested on patients in a trial by the end of 2020.

Term Sheets for each month can be found here:

January | February | March | April | May | June | JulyAugust | September | October | November 

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