Several Colorado companies kicked off 2024 by securing hefty funding rounds.
The five largest rounds raised by local companies in January pulled in a collective $5.2 billion, nearly double 2023’s 10 largest funding rounds in Colorado. January’s funding was also significantly larger than the $115 million raised by five businesses in December.
The majority of the funding — $4.76 billion — secured last month went to a Denver-based data center provider with locations around the globe.
Albedo Space Corp. — $35 million
Satellite imagery startup Albedo raised a $35 million Series A-1 on Jan. 23 from the likes of Standard Investments, Y Combinator and Bill Gates’ investment firm Breakthrough Energy Ventures. The Broomfield startup develops low-flying, mid-sized satellites that capture high-quality images from space. The fresh funds will help Albedo launch its first operational satellite.
Sploot Veterinary Care — $40 million
Denver-based Sploot Veterinary Care raised a $40 million Series A round in mid-January. The startup is a tech-driven veterinary care platform for pet parents and veterinary professionals. The round led by investment firm L Catterton will allow Sploot to accelerate its expansion plans. Sploot opened its first clinic in September 2022 and now has seven locations in Denver and Chicago, with two more opening in the coming months.
BillingPlatform — $90 million
BillingPlatform is a fast-growing billing software that began as a tool to support usage billing for the telecommunications industry and has since expanded to serve the full revenue lifecycle. The Englewood startup raised a $90 million growth equity investment in late January and will put the funds toward adding more customers and growing its revenue. BillingPlatform has landed on the Deloitte list of fastest-growing tech businesses for the last four years and has a three-year revenue growth rate of 296%.
Quantinuum — $300 million
Broomfield-based quantum company Quantinuum raised $300 million in equity on Jan. 17 at a pre-money valuation of $5 billion. The company is developing advanced software solutions and trapped ion quantum computers — which apply the laws of quantum physics to computing to quickly solve complex problems. Quantinuum was formed in 2021 when Cambridge Quantum Computing and Honeywell Quantum Solutions merged.
Vantage Data Centers — $4.76 billion
Global provider of hyperscale data center campuses Vantage Data Centers raised a $6.4 billion equity investment in early January to expand its operations. Roughly $1.64 billion from this round was announced in September after Vantage sold a minority stake in its Europe, Middle East and Africa (EMEA) business to an Australian pension fund. Headquartered in Denver, Vantage has data centers across North America, the APAC and EMEA.
