March was a busy month for deal flow in Colorado, highlighted by Broomfield's Webroot $618.5 million acquisition closing, a $382 million internet infrastructure fund raising capital and a host of other startups across the state raising money.
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We gathered some of the state's top fundings in a roundup below.
After choosing Denver over Washington D.C. to house its engineering team, Pie Insurance has announced a major Series B that will help the company double its staff by the end of this year. The insurtech startup, founded in 2017, announced the completion of a $45 million Series B funding round. Participating investors include SVB Capital, Sirius Group, Greycroft, Moxley Holdings, Aspect Ventures and Elefund.
Denver's NextHealth Technologies, an AI-powered healthcare analytics platform, announced that it has completed a $17M Series B funding round led by TT Capital Partners.
Boulder's Clear Comfort Water, a company creating a non-chlorine swimming pool water treatment, raised $850K in an equity round of funding, according to a Form D filing.
Good Buy Gear, a marketplace for secondhand children’s gear and accessories, recently raised a $2M funding round led by Atlanta’s Be Curious Partners, a firm focused on reinventing parenthood through technology. Colorado’s Access Ventures and Relay Ventures also took part in the round. The funding will allow Good Buy Gear to expand out of Colorado, eyeing Dallas, Atlanta or Phoenix as its next target markets.
Cerebral Therapeutics, an Aurora-based developer of medications with a focus on refractory epilepsy, raised $7.8M in funding, bringing its Series A total to $11M. Investors include Granite Point Capital Management LP and Vivo Capital LLC.
Private equity firm L Catterton has agreed to sell Denver's CorePower Yoga, a yoga fitness studio operator, to TSG Consumer Partners. Since 2013, CorePower Yoga has grown its footprint from 80 studios in 12 states to over 200 studios in 23 states. The financial terms of the deal were not disclosed.
Denver startup Shotzr announced that it has raised $3M to further build out its targeted image marketing platform. Access Venture Partners led the round with additional participation from DVI Equity Partners, Blue Note Ventures, First Mile Ventures, Spring Time Ventures and Rockies Venture Club. As part of the round, Brian Wallace, Managing Director of Access Venture Partners, has joined Shotzr’s Board of Directors.
Fort Collins-based water monitoring company In-Situ has acquired Wisconsin's ChemScan Inc., an automatic chemical analysis systems manufacturer for water and wastewater monitoring. The acquisition will expand In-Situ's ability to serve process applications including municipal and industrial wastewater, drinking water and other industrial water process markets. As part of the move, ChemScan, previously known as ASA Analytics, will continue to operate in Wisconsin.
Denver's Covered Insurance Solutions, an independent digital insurance marketplace, raised $3M in a new round of equity funding, according to a Form D filing.
Denver's Knotty Tie Co, a custom, homemade tie and pocket square company, raised $640K in a new round of equity funding, according to a Form D filing.
Louisville's cQuant.io, an energy analytics startup, raised $1.4M in a new round of equity funding, according to a Form D filing.
Littleton's BenchSentry, a startup building secure porch benches for deliveries, raised $530K in a new round of equity funding. More on BenchSentry here.
After working on the product for the last 18 months, Denver's Nodin is prepared to launch its AI-driven analytics platform in April. The company, previously named Appli, has developed a SaaS-based platform that provides clear, automated business insights about what is happening in a business, why it is happening and what to do next. In preparation for the platform's launch, Nodin announced a $5M funding round that included participation from institutional investors, including Liberty Global Ventures and the Anschutz Ventures Group.
Boston's Carbonite, a cloud-based data protection provider, closed its previously announced acquisition of Broomfield's Webroot at a total price of $618.5M. Webroot is a cybersecurity provider for managed service providers and small businesses. The combination of cloud-based backup and recovery with cloud-based cybersecurity introduces a new approach to data protection, the companies said in a release.
Denver's HarperDB, a software startup trying to simplify the database landscape, raised just over $4M in a new round of equity funding, according to a Form D filing.
Boulder-based Catalyze raised $4.6M in funding from Innosphere Fund, Prisma Energy and angel investors, according to a Daily Camera story. Catalyze is an energy services partner for real estate developers, helping them turn the utilities at their properties into a renewable energy infrastructure. More on the funding here.
Mount Elbert Capital Partners, a Denver-based private equity firm specializing in internet infrastructure, announced that it has completed the final closing of its debut fund, Mount Elbert Capital Partners Fund 1, totaling $382M. The fund surpassed its initial target of $290M. More on the fund here.
