As the weather heats up, so is Colorado's tech and startup funding.
In June, we tracked $208 million in funding over 10 deals, topping May's figures of $155 million across 10 deals.
June's total was bolstered by DispatchHealth's $135.8 million round and MycoTechnology's $39 million Series D. In addition to the funding rounds, a handful of venture firms brought in capital this month, including $14 million for Boulder's Delta-v Capital.
We cover funding rounds, acquisitions and other transactions in our daily newsletter, The Beat. You can sign up for that here! We gathered some of the state’s top fundings from June in a roundup below:
Denver’s DispatchHealth, a provider of tech-enabled in-home health care, announced the closing of $135.8 million growth capital financing. It’s one of the state’s largest funding rounds in recent history. The Series C round was led by Optum Ventures and included participation from existing investors Alta Partners, Questa Capital, Echo Health Ventures, new investors Oak HC/FT, Humana Inc. and additional strategic investors. DispatchHealth offers acute, extended and advanced care services to treat simple to complex injuries and illnesses in more than 19 cities from coast to coast and is rapidly expanding to new cities across the country.
Boulder-based Bonusly, an employee recognition and rewards platform, announced that it has received $9 million in Series A funding to grow its team and built out its platform. The round was led by Denver's Access Venture Partners, joined by Next Frontier Capital, Operator Partners and existing investor FirstMark Capital. On Bonusly's platform, employees get a monthly allowance to give small bonuses to their colleagues to recognize their contributions. These points translate to a monetary amount, giving employees the ability to transfer them into real-world rewards.
A Denver-based startup using mushrooms to make healthier and more flavorful food has closed a $39 million Series D that takes its funding total over $100 million, since its founding in 2013. MycoTechnology closed the round of financing, which was co-led by Greenleaf Foods, SPC, S2G Ventures and Evolution Partners. Rich Products Ventures, Tyson Ventures, Continental Grain, Middleland Capital, Bunge Ventures, Seventure Partners, Cibus Investments Limited and Kellogg’s eighteen94 Capital investment arm participated in the round. This investment comes after the company raised $30 million in January 2019. To date, the company has raised $120 million in outside capital.
Denver's PAIRIN, a social enterprise startup making education relevant and hiring equitable, announced the close of $2.1 million funding, the first tranche of its Series A round. The funds will be used to support the growth of the company and its My Journey platform. My Journey is a workforce process management platform that personalizes career exploration, job matching and skill development for education, workforce programs and governments. This round is led by social impact investor New Markets Venture Partners, along with New U Venture Partners, JFFLabs and return investors Village Capital and Independent Spectrum, LLC. More here.
Routinify, a Denver-based remote healthcare solutions company, raised $1.5 million in equity funding led by Resolute Capital Partners. The company intends to use the funds to expand operations and its business reach. More here.
Denver's Stedi, a messaging platform for B2B transactions, raised an additional $7 million as part of a $21 million equity funding round, according to a Form D filing. The company had previously reported raising the first $14 million of this round in November.
Flatfile announced that it closed a $7.6 million seed round led by Two Sigma Ventures, with participation from previous investors including Afore Capital, Designer Fund and Gradient Ventures, Google’s AI-focused venture fund, as well as new investors HNVR, Work Life Ventures, Quiet Capital, Basecamp Fund and Soma Capital. The funding coincides with the launch of its new solution, Concierge, a product focused on data onboarding for large enterprises.
Colorado's Hacker Noon, a technology publishing platform serving 4 million readers per month, announced a $1 million investment from Coil, a San Francisco-based startup helping creators monetize content. In addition to the funding, the companies kicked off a three year partnership focused on web monetization for contributing writers. With this, Coil automatically streams micropayments to a writer’s wallet based on the amount of time Coil members spend reading. More on the funding and partnership here.
Boulder-based Shinesty, a company making "outlandish" clothing, raised $600,000 as part of a $1.5 million round, according to a Form D filing. The company was recently named a 2020 NFL Players Association Licensee of the Year for its player-themed Hawaiian shirts.
Cloud Agronomics, an Englewood-based geospatial imaging and analytics company creating a living map of global agriculture, raised $4.67 million in equity funding as part of an $8 million round, according to a regulatory filing.
Other deals
Two weeks after it filed for an IPO valued up to $100 million, Boulder's ArcherDX, a biotech company developing personalized genomic medicine, has been acquired by Invitae for a deal valued at approximately $1.4 billion. Invitae, a genetics company based in San Francisco, will combine with ArcherDX to create a genetics giant with a focus cancer genetics and precision oncology.
Delta-v Capital, a PE firm with offices in Boulder and Dallas, has raised about $14 million for a new funding round. The Boulder Daily Camera reports the cash is likely going toward North Carolina software firm TeamWorks. Delta led a $25 million Series C round for the company last year.
Denver’s CoPeace, a diversified holding company which invests in growing businesses demonstrating positive impact, announced that it has secured $1.6 million in funding through a private capital raise. The round included more than 48 individuals from within the company’s private network of investors. As a holding company, CoPeace utilizes investor capital to purchase controlling interest in complementary, purpose-driven holdings through an investment approach that creates a path for nearly anyone to participate in impact investing, including communities often overlooked in traditional investing.
Kubera Venture Capital, a Denver-based early-stage VC firm, reported raising $2.75 million for a new venture fund titled Kubera Venture Capital Fund I, LP. The firm was created in 2019. Its website shows it makes pre-seed to Series A investments in tech companies across North America. Its general partners are Balaji Gopinath, James McKee and Sena Zorlu.
