Venture capital looks much different than it did in 2021 and 2022, but Colorado companies are forging ahead despite a decline in funds.
The five largest local raises in August pulled in a collective $61 million, albeit this number is down from the $93 million raised by the five largest Colorado rounds in July.
Companies that raised the most capital last month span the healthcare, biotech, SaaS and artificial intelligence industries. These businesses plan to hire and scale marketing efforts with their fresh capital.
Quadratic — $5 million
Quadratic, a Boulder-based spreadsheet company, raised just more than $5 million in mid-August, according to a Form D filed with the U.S. Securities and Exchange Commission. The company offers a modern spreadsheet that allows engineers, business analysts and data scientists to pull data from various sources and work through that information with tools like Python, Pandas and SQL.
Transverse Medical — $6.63 million
Transverse Medical is developing a medical device to reduce the risk of stroke during heart valve procedures. The Denver-based company raised approximately $6.63 million from 31 investors in August, according to a Form D filed with the U.S. Securities and Exchange Commission. Transverse Medical was founded in 2011 and ranked as one of this year’s largest Denver-area biotech and bioscience companies.
Rebalance Health — $7.37 million
Boulder-based Rebalance Health created hormone-free lozenges that reduce people’s anxiety and address hot flashes and low testosterone. The startup was incorporated in late 2020 and launched its first products in March 2023. Backed with a recent $7.37 million Series C round, the startup plans to increase its marketing efforts and accelerate the launch of its products.
Beamer — $20 million
Also based in Boulder, Beamer helps companies smoothly roll out tech updates. Its platform allows businesses to tell users about new and upcoming product updates and collect feedback about these changes. Beamer raised $20 million from SaaS investment firm Camber Partners in August and named a new CEO, Satya Ganni, who also comes from Camber. Beamer co-founder Spencer Coon said the company will hire to accelerate its growth and expand its reach.
Prins AI — $22 million
Prins AI raised a $22 million Series A+ round, according to venture capital and private equity publication FinSMEs. The startup offers “AI digital human training” and helps celebrities and businesses create digital identities. According to the Colorado Secretary of State, the company was formed on June 13, 2023, under the name Prins AI Technology. Documents show that Prins is based out of an active Chuy’s Tex-Mex restaurant in Lakewood.
